The Square was formed on the location of the first fortified precinct of Sibiu. The actual precinct dates from the end of the 12th century, the existence of the prepositure in 1191 being an "ante quem" term for the dating of the actual surface of the square. The buildings were erected on the line of the first walls at the time when the fortification lost its practical purpose, starting with the second half of the 14th century, along with the complete fortification of the "Upper Town". In 1415, the existence in this location of a cemetery chapel with Saint Jacob as a patron saint is mentioned here, the right of patronage having been conceded by the pope towards one of the deputy mayors of Sibiu named Jacob. Also, in the immediate vicinity of the chapel there existed the Priests’ Tower, and alongside it, a house belonging to Thomas Gulden, donated by its owner to the city to serve as headquarters for the City Hall. The constructions around the Evangelic Cathedral represent valuable vestiges of culture dating from the 15th to the 18th centuries. Among these, the most important ones are the Parish House, the Stairs’s Tower and the Brukenthal High School.

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