Slottsbacken (Castle Slope) is a street that runs steeply down to the water's edge, affording fabulous views over the impressive museums on the other side of the channel. The royal architect Tessin the Younger built the elegant Tessin Palace, opposite the Royal Palace, for himself. Nowadays, it is the official residence of the governors of the province of Stockholm. The famous statue of Gustav III, by Sergel, stands alongside the water.