It was founded in 1656 by Doña María de Oquendo. The remains of this convent, originally home to nuns of the Saint Clare order, is opposite the offices of the regional government, the Parlamento Regional de Cantabria. It was constructed along typical lines, around a central cloister. The church is an example of neoclassical architecture. In 1837, the convent was converted into a tobacco factory, in response to the commercial dictates of the time. Much damage has been done to the fabric of the building over the years, but the bell tower and the vaulting in the church have remained pretty much intact. Visits inside are not allowed.