The Canal Grande (also known as Canalazzo) is the city’s main waterway, and neatly divides it into two sections with its winding 'S' shape. Venice grew around the Canal and it has played a fundamental role in its commercial activities since the Middle Ages. Along its banks stand magnificent palazzos, as owning a residence directly overlooking the Canal Grande was a mark of wealth among noble Venetian families. The Canal Grande is also dotted with case-fondaco, a typical structure of the Maritime Republics. The building served both as a warehouse, located at water level for the easier handling of cargo, as well as the living quarters for merchants to be close to their merchandise. It was considered a sign of prestige for a Maritime Republic to have a casa-fondaco in another Republic, a sort of early official 'embassy', as testified by the fondacos that still remain in Venice, like the Fondaco dei Turchi and the Fondaco dei Tedeschi, the Turkish and German Fondacos, both of which overlook the Canal Grande.