Yekaterinburg is known for its buildings that reflect different historical eras. Each estate here is a monument of regional or federal significance. On the embankment of the picturesque city pond are two stone mansions built about two hundred years ago, nicknamed "the twins" due to their similarity. One of them, the more pompous, belonged to the head of the mining factories, while the other belonged to merchant Pshenichnikov. Both buildings are cultural heritage sites of the Ural capital.

The beginning of the 19th century was a golden time for Yekaterinburg and the Urals. The development of the mining industry contributed to the emergence of large factories, construction, and the advancement of culture and education. Significant funds flowed into the city, and the local nobility began to build luxurious homes for themselves. Thus, in 1821, the mansion of the mining chief appeared on the pond's shore, and in 1830, the estate of merchant Pshenichnikov, whose ancestors were engaged in business in the Urals. Although little information about Pshenichnikov has survived, it is known that he was a wealthy man, as construction on the shore was only affordable for the rich residents.

Both mansions were designed by architect Mikhail Malakhov, a well-known Russian architect who studied in St. Petersburg and preferred the classical style. The two-story estate with a mezzanine harmoniously fit into the ensemble of the embankment. Before the revolution, this part of the city was called "Gymnasium" and later became "Embankment of Working Youth." Malakhov skillfully integrated the buildings into the surrounding landscape without disrupting its integrity.

The facade of Pshenichnikov's house is adorned with a portico of four columns with balconies and carved railings. The gallery is set on a projection of the first floor, faced with stones, and the space above the windows is decorated with stucco.

After Pshenichnikov's death in 1843, the house passed to his relatives, who rented it out. Among the tenants was the forester of the mining enterprises, who used the building as a residence. The forester was responsible for the restoration and protection of the forests, which served as the main source of energy for the factories. In 1838, Ivan Shultz was appointed chief forester, a position he held for nearly 50 years, teaching industrialists the proper way to fell trees.

In 1887, Pshenichnikov's house was purchased by Evdokia Ustinova, a "peasant widow." History is silent on how she managed to acquire such an estate. In the early 20th century, part of the mansion was bought by the manager of an insurance company, and until 1917, the building housed the office of this organization along with the branches of two banks.

After the events of 1917, the estate was looted. In the early 21st century, the building underwent reconstruction, and its interior was updated. Currently, the mansion houses the president's reception.