The plaza named after Joaquim Fonseca Guimarães (a local resident whose house became Hotel Santa Teresa, just up the road) now forms the center of bohemian Santa Teresa. A festive Carnaval street party originates here, and a number of restaurants, handicrafts and thrift shops lie within a short distance.

　　This is the final cable-car stop on the bonde before it heads back downhill to Centro.