earthquake destroyed Caracas on 26 March 1812, which was portrayed by authorities as a divine punishment for the rebellion against the Spanish Crown. The war continued until 24 June 1821, when Bol�var gained a decisive victory over the royalists at the Battle of Carabobo.
As the economy of oil-rich Venezuela grew steadily during the first part of the 20th century, Caracas became one of Latin America's economic centers, and is also known as the preferred travel hub between Europe and South America. During the 1950s, Caracas began an intensive modernization program which continued throughout the 1960s and early 1970s. The Universidad Central de Venezuela, designed by modernist architect Carlos Ra�l Villanueva and declared World Heritage by UNESCO, was built. New working- and middle-class residential districts sprouted in the valley, extending the urban area towards the east and southeast. Joining El Silencio, also designed by Villanueva, were several workers' housing districts, 23 de Enero and Simon Rodriguez. Middle class developments include Bello Monte, Los Palos Grandes, Chuao, and El Cafetal. On 17 October 2004, one of the Parque Central towers caught fire. The dramatic change in the economic structure of the country, which went from being primarily agricultural to dependent on oil production, stimulated the fast development of Caracas, and made it a magnet for people in rural communities who migrated to the capital city in an unplanned fashion searching for greater economic opportunity. This migration created the rancho (slum) belt of the valley of Caracas
