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This square, at the foot of the slopes of the Croix-Rousse, takes its name from Nicolas Fay de Sathonay, the first mayor of Lyon to govern the whole city following the Revolution, in accordance with the law of the 6th of March 1805. His main town planning project was to renovate the facades of Place Bellecour.
In around 1300, a convent was set up by the Carthusian nuns; the remains can still be seen inside the 1st arrondissement mayor's office, located on the square.
