For years, Colon street was the central of commercial and financial center of Cebu. Business establishments and major offices were built along this historical street. Movie theaters, entertainment centers and cultural shows all began their growth in Colon. Along with this growth, major universities and schools were built in this street. Among these are the University of the Visayas, University of Cebu, University of San Jose Recoletos (formerly known as Colegio de San Jose Recoletos) and the University of San Carlos.

It was also in Colon Street that shopping malls took root. Now, Colon has lost its standing as the city’s main trade and commerce hub. Colon street’s movie theaters have lost their luster, replaced instead by dark and dirty gloominess. Lately, it has earned a bad reputation of being a hub of thieves, snatchers and robbers.

However, Colon Street still has not lost its character over the centuries. It is still the bargain hunter’s ultimate destination, the commuters’ usual alighting point and it will remain, always, a historical street – a huge part of Cebu City’s growth.