In 1881, the Council of Elders of the Kyiv Merchants Assembly acquired permission to establish a recreational area in the Tsarskaya (Tsar’s) Square (now the European Square) where a year later a brick building decorated with towers and metal eaves was erected by the famous Kyiv architect Vladimir Nikolayev and named the Merchants' House  (Merchants' Assembly).
In 1881, the Council of Elders for the Kyiv Merchants Assembly obtained permission to establish a recreational area in Tsarskaya Square (now European Square). One year later, they commissioned Vladimir Nikolayev, a prominent Kyiv architect, to build a brick structure with towers and metal eaves that was named the Merchants' House. This building served as the headquarters for the Kyiv Merchants Assembly.