The tower, dating back to the 16th century, got its name due to its proximity to the Georgievskaya church, which unfortunately has not survived, or from the Georgievsky terema, the palace of the city's founder. In 1785-1786, it was converted into a storage facility, with openings laid between the battlements.

In 1943, the construction of the Chkalov staircase began, which was completed in 1949. The staircase leads from the monument to Valery Chkalov, located near the Georgievskaya tower, down to the Volga River. In 1953, the tower was restored.

The tower is a square four-tiered structure. The lower tier is almost completely hidden underground and is connected to the upper tier by a system of passages and stairs built into the thickness of the adjacent wall.

The central room of the tower, isolated from the passages, originally served as a through passage until the gates were closed with a drop grate. The gates were protected by a complex system, including a long wooden bridge and a drawbridge in the form of a heavy shield that closed the opening when in a vertical position. The mechanisms of the drawbridge have remained almost unchanged. The passage through the tower had a bend that prevented direct fire. In the side walls of the main room, there are combat stoves.

On the third tier, there are four combat chambers, while the fourth tier is intended for fighting from the battlements.