The area was named for the "San Nicolás" Parish, consecrated in 1773. Demolished when work on Ninth of July Avenue started, the Obelisk of Buenos Aires now stands in its place. The future Metropolitan Cathedral of Buenos Aires was also built in the San Nicolás area between 1770 and 1822. Prospering following the establishment of the Viceroyalty of the Río de la Plata, Buenos Aires merchants had Boneo's Pier built in 1802, quickly becoming the city's main shipping terminal. The British Empire opened a consulate here in 1794, leading to the development of a sizable British community in the area, which became known as the "English borough." They founded the English Merchants' Society in 1810 and the British Consulate became home to the first modern bank in Buenos Aires, in 1822.