The objective of this square was to be the political center of the Ancient Maritime Republic.
It is here that the Palaceof Elders was built. After the fall of Pisa, under the rule of the Medici, it was transformed by Vasari for Cosimo I, and was assigned to Headquarters of the Order of the Knights of Santo Stefano, order of chivalry created to defend the coasts of the Tyrrhenian Sea from the Muslim invaders.
This building currently houses the Scuola Normale Superiore, founded in 1810 by Napoleon Bonaparte. The Building of the clock completes the square, which was composed on commission of the Order of the Knights of Santo Stefano in 1607.