Approved and budgeted by the council in 1926, Ayerza's eclectic design drew heavily from French Neoclassical architecture. The foundation stone was laid under the First Congress of Municipalities of the Republic of Argentina, on November 18, 1926 by Marcelo Torcuato de Alvear.[1] A commemorative plaque was affixed on the occasion. Louis Falcone was awarded the contract with a completion time of 5 years, and the work started on September 19, 1927; the contract included works of luxury fittings, lighting, a clock tower with five bells and a carillon with 30 bells.