Seven blocks west of the parque central is one of the most inspiring views in a region famed for them: the view across Laguna de Masaya to the smoking Santiago crater. The attractive, if crumbling, malecón was constructed in 1944, when you could still swim, drink or fish in the impressive lagoon. Things have changed. Several trails carved into the volcanic crater millennia ago lead from a humble collection of restaurant-bars down to the water.