Palacio Sara Braun The town developed economically around 1890 when the region became an important center of the sheep-raising industry. Before the Panama Channel was built, Punta Arenas was considered one of the most important harbors in Chile and South America.Manors and mansions still line the beautiful Plaza Muñoz Gamero and reminders of Punta Arenas' seafaring legacy are found all over town in museums, street names and monuments.Palacio Sara Braun, built for the owner of Sociedad Explotadora de Tierra del Fuego and his wife. Today this is a national monument and a museum. (closed as it was Christmas eve)