Fundación Calicanto was founded in 1994. The organization's initial efforts focused on protecting the community through responsible conservation and restoration efforts. Thanks to the work they do together with other organizations, the Old Town of Panama received the Title of World Heritage Site by UNESCO in 1997.

This brought about a great economic and architectural development in San Felipe, but in turn caused the displacement of many of the area's residents, who did not have the economic capacity and preparation necessary to participate in this movement.