Named after the church and former monastery of the Carmelites.
The square was named on 15 March 1905 after the Carmelite monastery and church. Discalced Carmelites settled here in the 1620s; their church was consecrated in 1639 and has been the parish church of St Joseph since 1783. The monastery was demolished in 1904–1910. In 1848 the square was briefly called Bürgerplatz.