This is the largest square within the historical core today. It opens towards the north and the Town Harbour and it has assumed its form after a number of restorations, demolitions of historical buildings and erection of mostly inappropriate new buildings such as the hotel Astoria and in particular mansion Danica. opposite the corner tower of the Prince's Court (Knežev dvor). The square was probably open towards the wall of the fortress and the harbour sea in the Roman town basis. In the medieval age and until the pulling down of the town wall, by the end of the 19th century, it was closed from that side by the wall of the fortress. On the eastern and western end there were two tall square towers. The first one was belted in the 15th century by a semicircular external bastion. A door leading towards the galleys' and smaller vessels' moorings was in the western tower. The southern facade of the square consisted of a number of typical two floored town houses with stylistic features of the Romanesque and the Gothic periods. One of the palaces of the family Dominis is still located on the eastern corner of the square.

On the western side, forming the beginning of the Lower Street and the overall square facade. there is a complex of the Prince's Palace (Knežev dvor), which has always been the centre of the town's civil administration. The square ground basis tower lies in its core and belongs to the late-Romanesque-Gothic and early-Renaissance period. The oldest part of the building is in the Lower Street (Donja ulica)with large Romanesque biphoras on the first floor. The square was a dynamic and a public life centre when its coast was the main town harbour. All inshore liners moored daily even though that disfigured the face of the external fortress until a new promenade was built on the peninsula's tip.