The building was inaugurated with a luxurious ceremony on 12 October 1950, Día de la Hispanidad (Day of the Spanish-speaking world, then named Día de la Raza). The Álvarez Quintero Theatre was opened, representing the old aspiration of Torcuato Luca de Tena, who had hired the regionalist architect Aníbal González to build it in a central location. However, neither of them survived this dream (they both passed away in 1929) and it was the Marquis Juan Ignacio de Luca de Tena who gave the keynote speech in the enclosure, built with a design by Rodrigo and Felipe Medina Benjumea and with all the advances and comforts of the time.
The theatre, which was dedicated to the work of Seville's playwrights, opened its programme with the work of the Álvarez Quintero Ventolera, followed by an interlude by Luca de Tena, Malvaloca y Consolación, starring the actresses Lola Membrives and Carmen Díaz, queens of acting at that time.
The theatre closed in 1987 and was recovered by the El Monte savings bank (later Cajasol) in 1999, which restored the facilities and used them for the cultural activities of its foundation. In a new stage, the Seville Town Council has redefined the area as a cultural location for programming shows and training activities under different disciplines. Ancient music, classical music, contemporary music, jazz, emerging artists and family activities are now located in the centre of Seville, where a shape with two sailboats symbolising the Álvarez Quintero brothers is still preserved at the top of the tower on the corner of Calle Arguijo.