The Pechersky Ascension Monastery in Nizhny Novgorod arose in 1328-1330. It appeared thanks to the monk of the Kiev-Pechersky Monastery St. Dionysius of Suzdal. Arriving on the banks of the Volga from Kiev, he found a cave three kilometers far from Nizhny Novgorod and began living in it. And in 1335 he started organizing a man's convent here. It quickly became one of the spiritual centers of Russia. Its statute was strict, all were obliged to work and could leave the territory of the monastery only if asked for permission of a rector.
In 1597 the Pechersky Ascension Monastery was hit by a mountain near which it was built. Most of the buildings of the monastery were destroyed. And they did not restore buildings in the old place. A new temple with residential buildings was built about a kilometer far from the old monastery in 1597. But the main construction work began in the middle of the XVII century. The dominant feature of the new ensemble of the Pechersky Ascension Monastery was the five-domed Ascension Cathedral. Later the Gate Church of St.Euphemia of Suzdal appeared at this place. It was a building where the cells for the conventual community and the Church of the Intercession were located. In 1924 the monastery was closed. During the Soviet era private premises, restoration workshops and even a cinema were housed here. In the 90s of the 20th century the Pechersky Ascension Monastery was returned to the Russian Orthodox Church.