El Centro Español was chartered in 1891. Cigar manufacturer Ignacio Haya was the club’s first president. The club sponsored and built El Centro Español, the first ethnic social club and mutual aid society in Ybor. In 1909, club officers started a campaign to raise funds for this French Revival building when the club outgrew the first house on this site. They built a similar smaller structure in West Tampa for club members living there. The organization's role was to provide members with healthcare and social welfare. It provided entertainment to members and was a place to gather and socialize. Due to declining membership, in 1983, the organization consolidated to its West Tampa clubhouse and sold the Ybor building.

In the mid-1960s, 16th Street, which ran next to the building, was closed to build El Paseo de Ybor, a pedestrian mall. The thought was the mall, beautifying 7th Avenue and running bus tours, would turn the historic district into a tourist mecca.

Once a freestanding building, in a controversial deal in 2000 proposed by former Mayor Dick Greco, it became part of a complex of buildings known as Centro Ybor. The building has struggled with long-term occupancy ever since. It has housed several businesses, including an antique and furniture store, L ‘Olivier Restaurant & Cabaret, Carne Chophouse, and TheYbor Chophouse, which closed in 2020. In April 2024, Ten Rooms, marketed as a dining and retail destination, opened a multi-functional space. Big local names led the effort. It closed in July 2024, four months after opening.  

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