Avenida dos Aliados is generally regarded as Porto's city centre and is, as such, the most grandiose avenue. Flanked by ornate buildings in a range of architectural styles, from neoclassical to French Beaux-arts, this avenue was built to impress. As such it is home to some of the city's most prestigious hotels along with a number of banks.
When I lived in Porto I was never quite convinced I was in an actual proper city until I wandered down to Aliados.