Today, Luitpoldplatz itself mainly serves as a central, inner-city parking lot. Large festivals take place here several times a year: for example the March market or the Grünstadt wine festival, which takes place regularly on the 4th weekend in July under the name "Grünstadter Weinwettstreit". The city's central extinguishing pond was once located on Luitpoldplatz. The fire station was located where the Weinstrasse Center can be found today. The name goes back to Prince Regent Luitpold of Bavaria.