The tower was built between 1493 and 1495 on the northwest side of the Kremlin wall, which today runs along the Alexander Garden. It is located between the Borovitskaya and Komendantskaya towers.

In 1676-1686, the tower was topped with a tent roof, and to this day it has well preserved its medieval forms. Its architectural design is similar to that of the neighboring Komendantskaya tower: a massive square base with a fighting platform and parapet, above which rises an open square topped with a tent and a lookout tower. Inside the tower, there are two tiers of vaulted rooms, and the entrance to the lower tier is located on the Kremlin side.

The modern name of the tower was given in the 19th century due to the building of the Armory Chamber, constructed on the territory of the Kremlin.

The height of the tower is 38.9 meters.