El Monumental was built on land reclaimed from the marshy coast of Río de la Plata. On May 25, 1935, the cornerstone was laid on the Centennial (now Figueroa Alcorta) and Río de la Plata (Udaondo) Avenues. On December 1 of that year, the Steering Committee presented the approved project in detail to its members at an assembly. They obtained a loan of $2,500,000 from the government and on September 27, 1936, construction began under the direction of architects José Aslan and Héctor Ezcurra.