The School building became functional in 1900. During the First World War, the Ministry of Public Works carried out its activity in the building (1916-1918). In 1917, a fire started inside the building caused numerous damages. In the period 1918-1925, the floor of the building was occupied by the Iaşi Court - Section III, which will move to the new Palace of Justice built by I. D. Berindei (the current Palace of Culture). After 1931, a series of renovation works took place, after which the School was able to resume its activity. In front of the school is the white marble statue of Gheorghe Asachi (1788-1869). The work was made, in 1890, by the Bucharest sculptor Ion Georgescu (1856-1898), considered the most prominent representative of neoclassicism in Romanian sculpture. On the plinth of the monument is the inscription: "To the first teacher, Gheorghe Asachi, grateful Romanian schools". Two bas-reliefs are placed on the sides: the first one represents Gheorghe Asachi offering flower crowns to the prize-winning students from the "Vasile Lupu" Gymnasium (in the background is the silhouette of the Three Hierarchs church), and the second one depicts Gheorghe Asachi as an architect , presenting to ruler Mihail Sturdza, the construction plans of the Michael Academy (1835).