As the monastery grew into one of the wealthiest landowners in Russia, the woods where it had stood were cleared and a village (or posad) sprang up near the monastery walls. It gradually developed into the modern town of Sergiyev Posad. The cloister itself was a notable centre of chronicle-writing and icon painting. Just opposite the monastery walls St. Paraskeva's Convent was established, among whose buildings St. Paraskeva's Church (1547), Introduction Church (1547), and a 17th-century chapel over St. Paraskeva's well are still visible.