In 1713, an icon of the Mother of God "Theodorovskaya" was discovered above an unnamed spring located below the village of Kashpir. For some time, it was kept in the local parish church. In 1730, Kashpir became part of Syzran, and the miraculous icon was transferred to the Syzran Ascension Men's Monastery. Every year, the icon was taken out of the monastery to the city for a public prayer service and a procession to the holy spring.

After the revolution, there were several attempts to destroy the well-spring. The last of these occurred in 1968 when three barrels of phenolic additives from a local shale processing plant were poured into the well, after which it was filled in.

In the 2000s, the well was completely excavated and cleaned of pollutants. Archbishop Sergey of Samara and Syzran held a water blessing service here and blessed the gathering of water. Local residents arranged this holy place.

In 2006-2007, the spring was reconstructed: the well was fully repaired, a new oak frame was installed, it was deepened by one and a half meters, and cleaned. A chapel was built over the well, consecrated in honor of the icon of the Mother of God "Theodorovskaya," and a road was laid to the spring.

In June 2007, by the blessing of Archbishop Sergey, the holy spring was transferred to the Syzran Men's Monastery.

In 2008, the construction of a summer church in honor of the icon of the Mother of God "Life-Giving Spring" was completed, which was consecrated by the priestly order. That same year, a baptistery and bathing facilities were built.