The revival of the Second Athos was initiated by Metropolitan Gideon (Dokukin) of Stavropol. In July 1991, with his blessing, the clergy of the Lazarus Church from Pyatigorsk held the first prayer service at the site of the future monastery.

In 1997, a cross was erected at the site of the monastery, symbolizing the beginning of its revival. The Cossacks from Pyatigorsk, who settled here in tents and trailers, cleared the area and prepared a pit for the foundation of the new church.

On June 21, 1999, the ceremony for laying the first church of the reviving monastery took place, led by the archpriest John Znamensky, the dean of the churches of the Caucasian Mineral Waters. The builder of the monastery church was Archpriest Vadim Tsalikov. The church, located in a remote area without light and water, was built in two years. Its consecration took place on August 28, 2001. Metropolitan Gideon (Dokukin) of Stavropol consecrated the church in honor of Saint George the Victorious and became the abbot of the monastery.