The museum is located in the historical center of Vologda in a two-story stone building that previously belonged to the State Bank and is a federal cultural heritage site from the mid-19th century. This building is associated with the names of two famous Vologda residents from the past. The first owner was Alexander Vasilyevich Sorokin, a descendant of the peasant class from the village of Turundaeva in the Vologda district, who amassed a significant fortune in trade. He was repeatedly elected as a member of the Vologda City Duma and served twice as the mayor of Vologda. In 1859, Sorokin sold the house to Lieutenant Colonel Nikolai Petrovich Bryanchaninov, a representative of a well-known noble family in the Vologda province. The total area of the building is 1500 m². In 2008, 56 million rubles were allocated from the regional budget for restoration.

In 2008, the idea of the Governor of Vologda Oblast, Vyacheslav Pozgalev, to create a lace museum in Vologda received support from the Ministry of Culture of the Russian Federation, the Government of the Russian Federation, and President Dmitry Medvedev. Funding was provided under the departmental target program "Heritage of Vologodchina," with about 270 million rubles allocated from the regional budget for this purpose. In 2010, an additional 50 million rubles were allocated from the federal budget under the "Culture of Russia" program to complete the exhibition setup. The artistic design of the museum was carried out by Vologda artist-designer Sergey Mikhailovich Ievlev, a member of the Union of Artists of Russia.

The Lace Museum opened on November 3, 2010. The grand opening was attended by representatives of the consulates of Poland, Germany, France, Belgium, Austria, the leadership of the Ministry of Culture of the Russian Federation, Governor of Vologda Oblast Vyacheslav Pozgalev, Mayor of Vologda Yevgeny Shulepov, as well as deputies of the Legislative Assembly of Vologda Oblast and the Vologda City Duma. The museum has been open for visits and tours since November 5.