In the early 20th century, the territory of the monastery was located outside the city and was likely vacant. The committee for the construction of the monastery was established on May 16, 1903, and on February 17, 1904, the city council approved the transfer of the land for the archbishop's residence of the Saratov diocese, where Tsaritsyn held second place in significance. In 1905, the first buildings appeared here, including the summer church of the Descent of the Holy Spirit upon the Apostles, which initially accommodated about 100 people, with a square size of 12×12 meters and a small sexton's house. The author of these buildings was likely the diocesan architect Alexey Salko. The refectory and bell tower were added to the church only in 1907, and the consecration took place on October 28.

On March 1, 1908, Germogen appointed Hieromonk Iliodor to manage the residence, who was transferred to the Saratov diocese for his literary activities at the Pochaev Lavra.

In 1913, the monastery became a women's monastery.

In 1923, the monastery was closed, and its buildings were transferred to various institutions. During the Great Patriotic War, repair workshops were located here, and later, a military unit.

In April 2010, a pheasantry with several rare birds opened at the monastery. Its maintenance is overseen by monks and students of the Orthodox University.

In 2011, a chapel of St. John the Theologian was added to the monastery, located on the slope of the Tsaritsa River bank near the Second Longitudinal Highway.

As of early 2012, the number of monks was 13.