Named after the physicist Hermann von Helmholtz, the square is the heart of the Helmholtz district, one of the most densely populated neighborhoods in Berlin. Until 1885 there was a brickworks here, where material for the construction of the southern part of Prenzlauer Berg was also produced. The square, which was built at the end of the 19th century, is a meeting place for the neighbourhood, where children can play and there is a children's flea market on many Sundays. A square house is a place for social neighbourhood projects.
A small Saturday market takes place in the adjoining Lychener Straße.