This quarter of Rome, newly built at the end of the 19th century for the middle classes, was lacking in a theater, so a wealthy entrepreneur named Costanzi decided to have an Opera House constructed in the area. Although the work uncovered a 2nd century Imperial Roman Villa, little importance was given to it and building went ahead as planned.

The theater was inaugurated as the Teatro Costanzi on November 27th 1880, in the presence of King Umberto I and Queen Margherita. On the same evening, the king presented Costanzi with the title Cavaliere, Knight of the Italian Crown.
In 1926, the Rome City Council acquired the Opera House and commissioned Pio Piacentini to completely refurbish it, though the work was not finished until 1960.