It was built throughout the centuries from houses bought by the city of Valencia in 1493. In 1498 the new building was begun by the architects Pere Compte and Pere Bernia. Pere Compte also designed the most outstanding constructions in the city of Valencia, such as the Lonja (The Silk Market), the Cathedral and the Palau de la Generalitat, headquarters of the Valencian government.

The structure of the building has evolved since its 15th-century beginnings. All studies at the University of Valencia were taught in this building until the progressive transfer of different Faculties and Schools to new locations throughout the times.

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