The avenue itself was built in the 20th century. The original purpose of the street, build in the 19th century, was to connect between Puerta de Alcalá to Plaza de Espana.
In 1904 the plans were finally approved, and a few years later, construction began. In 1929 construction was completed.
During the Civil War period, the name of the street changed a few times, for everyone who ruled wanted to give it its own name.
Today, the avenue is crowded and luxurious. There are movie theaters, fascinating luxury homes, huge stores, and more. You can see here the Central Bank, the Communication Palace, and many other public buildings. On one side of the square there is Plaza de Espana, and on the other side the Paseo del Prado.
If the name Gran Via is familiar to you, that is because it is popular for street names around Spain - in Barcelona, Zaragoza, and Madrid. If your accommodation is near the Gran Via, it means you have a great place to stay!