Complex sentence: It takes its name from the promontory of Punta Gorda, on top of which, a square and park, Plaza de la Armada (formerly known as Plaza Virgilio) is a tourist hotspot.
Split into simpler sentences: It takes its name from the promontory of Punta Gorda. On top of the promontory is a square which is also a park, the Plaza de la Armada (formerly known as Plaza Virgilio) and it is a tourist hotspot.