Built at the request of Ion Cantacuzino between 1760 and 1765, the Old University (Universitatea Veche) was seriously damaged during a fire in 1795. After a renovation it became a royal residence and remained so until 1806. On the stone arch in front of the palace, kept from that period, the Moldavian emblem and an inscription in Cyrillic letters which translated means "the door of hope" are visible. Nowadays, it is the home of the College of Medicine and Pharmacy.