You might want to have a look at this post I wrote a few months ago about Plaza Sotomayor. The building you see with the tower was originally built in 1833 and used as Customs' House. In 1856 it was taken over and used as the Intendencia before being knocked down and replaced, in 1910, by the French style palace that still stands today (which was also the Intendencia before the Navy kicked out the council in the 1970s).
As I've mentioned before, the new Plaza Sotomayor project was recently cancelled, indefinitely it would seem. The remodelled Plaza should have been finished a couple of months ago. Yes, really. Instead, the council decided it would be better to cancel the approved plans and undertake another study as to the feasibility of renovating Valpo's main square. Then, once the study is finished, they'll set up another competition to design the Plaza. My guess is that the work will start around 3050.