The place known today as Largo do Paiçandu was once called either Praça de Alagoas or Zunega Tank, and at the time it sheltered Yacuba’s creek ponds and springs.
With the drainage of the area, its name was changed in honour of the city of Paysandu, taken in 1865 during the Paraguayan War.

The sight of Nossa Senhora do Rosário dos Homens Pretos Church, built by free black workers in the early twentieth century, and the Mãe Preta monument, both make Largo do Paiçandu a major reference point for the African descent community.

From year 1920 Largo do Paiçandu begun receiving seasonal circuses, like the famous clown Piolin, and along with the circus the traditional Caipira music duo singers, which kept in meeting at the Largo until 1980.

Other notable sights are the Galeria do Rock, a meeting place for all tribes and trades related to Rock n 'Roll, Skate, Graffiti, Tattoo and Silk Screen, which played an important role in the formation of the punk and hip-hop scenes from Sao Paulo in the 1980s; and the Olido Gallery that shelters the Secretaria Municipal de Cultura and a Circus Memorial.