According to tradition, in this place, located on the Camino de Santiago, El Cid had his residence in the city. In the 11th century, the hill between the castle and the cathedral, between the gates of San Esteban and San Martin, was the most populated place in the city and also the richest. In 1593, the council of Burgos planned to build a monument here in remembrance of El Cid but the project didn’t materialise.

The current monument is the work of architect José Cortés del Valle and was carried out in 1784. It was funded by the city council of Burgos, which, to carry out its plans, had to fight against the Monastery of Cardeña who owned the land. The shields of Burgos, of San Pedro de Cardeña and, in the middle, a commemorative inscription about El Cid, work of sculptor Manuel Campillo are displayed on three monoliths on a pedestal. The inscription reads:

«EN ESTE SITIO TVBO SU CASA Y NACIO EN EL AÑO DE 1026 RODRIGO DIAZ DE BIVAR LLAMADO EL CID CAMPEADOR. MVRIO EN VALENCIA EL DE 1099 Y FVE TRASLADADO SV CVERPO, A EL MONASTERIO DE SAN PEDRO DE CARDEÑA CERCA DE ESTA CIUDAD.

LA QUE PARA PERPETUAR LA MEMORIA DE TAN ESCLARECIDO SOLAR DE VN HIJO SVIO, Y HEROE BVRGALES ERIGIO SOBRE LAS ANTIGVAS RVINAS ESTE MONVMENTO EL AÑO DE 1784 REYNANDO CARLOS III»

Nowadays it is an archaeological site.