In 1551, one of Leo X’s papal bull encouraged the foundation of charitable organizations such as pawnshops, in order to get people out from usurers’ clutches. On the base of this act, in 1581 the Azzurri archconfraternity  (sky blue, from the color of their cloak used during the ceremonies), who had previously built a hospital, built the Monte di Pietà. At first, it rose up in a place where, some years before, on the ruins of a church dedicated to St. Basil, the same confraternity had built the church of Santa Maria della Pietà. In 1616, the construction project was given to the Jesuit architect Natale Masuccio. He died in 1619, after making only the bottom of the building. At that point, an anonymous architect continued the work trying to follow the predecessor’s architectural plans. It is only during the 18th century that the building assumed the present look: in 1741, on the occasion of the 200th Azzurri’s anniversary, a beautiful flight of steps was made leading to the church, and it was designed by the architect A. Basile and the painter P. Campolo. It was made of pink marble from Taormina. The stairs also gave the interior a scenographic aspect,  thanks to declivity of the ground and the pyramid shape of the church. A marble fountain representing the Abundance by Ignazio Buceti was put half way up the stairs at the center of the staircase. 

The building overlooks Via XXXIV Maggio with its beautiful eighteenth-century façade characterized by an ashlar portal with a marble plaque in which it is written “MONTE DI PIETÀ” on the top. Upon the arch, there is a plaque that says: "MAIOR OMNIUM CHARITAS 1789" in memory of its reconstruction after the earthquake of 1783. On the sides there are four windows and six niches, while the upper floor, destroyed by the earthquake, was not rebuilt. After entering the building, you will be in a foyer with a barrel vault. On your left there is a door, which leads to the upper floors, and in front of you, there is a fountain built in 1732. 

The wide court, from where the stairs begin, leads to the church that once was decorated by precious paintings, such as the “Pietà” of Guinaccia and several frescos made by Filippo Tancredi and Placido Campolo, that were lost during the earthquakes of 1783 and 1908. The Second World War caused other damages to the structure and in 1979 it was restored. Today the building, belonging to the Azzurri, is often used for cultural events, such as theatrical plays, concerts and exhibitions.