Coyoacán was founded by Toltecs in the 10th century and later settled by the Aztecs, or Mexica. Bernal Díaz Castillo, a Spanish chronicler, wrote that there were 6,000 houses at the time of the conquest. Cortés set up headquarters in Coyoacán during his siege of Tenochtitlán and kept his famous Indian mistress La Malinche here. At one point he considered making Coyoacán his capital; many of the Spanish buildings left from the two-year period during which Mexico City was built still stand.
Coyoacán has had many illustrious residents from Mexico's rich and intellectual elite, including Miguel de la Madrid, president of Mexico from 1982 to 1988; artists Diego Rivera, Frida Kahlo, and José Clemente Orozco; Gabriel Figueroa, cinematographer for Luis Buñuel and John Huston; film star Dolores del Río; film director El Indio Fernández; and writers Carlos Monsiváis, Jorge Ibargüengoitia, and Nobel laureate Octavio Paz.
It's also the neighborhood where the exiled Leon Trotsky met his violent death. Coyoacán's streets buzz with activity, and it has a popular food market, the Mercado Xicotencatl. On weekends families flock to its pleasant zócalo, second in importance and popularity only to the Zócalo downtown.
Coyoacán has now both absorbed by the ever-growing capital. But its managed to retain its original tranquillity. You'll want to linger here if you have the free time. The Frida Kahlo and Leon Trotsky museums give intense, intimate looks at the lives of two famous people who were friends and lovers, and who breathed their personalities into the places where they lived. Allow at least an hour at each.
The other museums are much smaller and merit less time. Remember that museums close on Monday. Weekends are liveliest at the Plaza Hidalgo and its neighboring Jardín Centenario (usually referred to as la plaza or el zócalo), where street life explodes into a fiesta with balloons, clowns, cotton candy, live music, and hypnotic dancing to the sound of drums.