A small red brick building intended for a women's primary parish school was erected in 1907 thanks to the funding from the Pereslavl merchant and timber industrialist Nikolai Petrovich Sveshnikov. By 1909, 150 girls were being educated in this school.

There is a common misconception that the funds for the construction of the building were provided by Ivan Petrovich Sveshnikov, a patron who bequeathed his collection of paintings to Pereslavl. Part of this collection later became the foundation for the art gallery of the Pereslavl Museum-Reserve.

In fact, the initiator of the school's building was his brother Nikolai Petrovich Sveshnikov, who approached the city council with this proposal. While construction was underway, he also suggested using a rented space from the Gladkov merchants, paying the rent from his own funds, for which he received gratitude from the city council. In 1909, the school was named after its founder, N.P. Sveshnikov.