Don Ignacio de Figueroa, Marquis of Villamejor, lived in 1885 in the old area of Madrid, in a huge hamlet, near the Plaza del Progreso, in the old street of Barrio Nuevo 12, today called Conde de Romanones. Like many other nobles settled in the Court, he decided to move his residence to the Ensanche, choosing for this the Paseo de la Castellana, the most privileged area, where the land had acquired greater value and had good communications, both with the center and with the racecourse; the land where the National Panorama was installed was awarded, which had gone to public auction for having broken up in the face of the little success of the show.
In September 1885 he asked for the string strip to be made for the new construction. A month later, the municipal architect Enrique Sánchez y Rodríguez marked the alignments and levels to which the building should be adjusted, but up to two years later the license to build it was not requested.