Official town center since 1932.

The square got its name from the Bielefeld Jahneiche, which was planted in 1861 by the Bielefeld gymnastics club. The bronze-colored clock was a gift from Alcina Cosmetic in 1996. From June 2020 to June 2022, the central, inner-city square was redesigned by the city of Bielefeld according to the guiding principle of "climate-friendly mobility". Pedestrians, cyclists and bus passengers now have more space;