The building, inaugurated in 1905 as a school, was acquired by the City Council in 1978 and declared a Site of Cultural Interest (BIC) in 1986. Its history includes significant expansions, such as the addition of an attic and an ornamental pediment in 1921, and the construction of an auditorium in 1950. After its closure as an educational center, it opened to the public as Viera y Clavijo Cultural Park, housing various institutions and the Pérez Minik Theater.

In 2004, the City Council transferred the management of the theater to the Government of the Canary Islands for its rehabilitation, a project that was suspended in 2009. More recently, in 2023, an agreement was signed to rehabilitate the park with the intention of housing the Rodin Museum of Paris, an idea that was ultimately discarded by the French entity due to local cultural opposition.

The decision to transfer the space to the La Caixa Foundation was made in May 2025, following a sectoral consultation that determined that the CaixaForum Tenerife project best met the established objectives. The Foundation will be responsible for the financing and programming of the center, which will include exhibitions, conferences, workshops, screenings, live music, educational initiatives, social projects, technological advancements, and themed summer nights.

The agreement commits the Santa Cruz City Council to complete the first phase of rehabilitation works throughout 2026 and to build an auditorium, the Pérez Minik, the following year. The historic building, spanning 3,800 square meters, will feature two multipurpose rooms, interactive spaces with dynamic programming, and a 250-square-meter hall for permanent exhibitions, complementing the outreach activities in the outdoor gardens.

The park will be expanded with a 15,000-square-meter green ring, which will house diverse flora with over 500 trees and native species, including a forest of ceibas and a unique specimen from the 16th century. The gardens will also display contemporary art pieces, such as ‘La Femme Bouteille’ by Joan Miró, ‘Esperando a Óscar’ by José Abad, and a sculpture by Manuel Drago, in addition to a children's playground and a cafe-terrace.