In 1814, Metropolitan Gabriel, with the permission of the Holy Synod, founded on the land donated by the Moldovan nobleman Alexander Teutul, which later became known as the "Big Fountain", a bishop's courtyard. In 1824, the courtyard was converted into a men's monastery in honor of the Assumption of the Most Holy Theotokos.
On June 1, 1824, the monastery was approved in the category of second-class.
At first, a small wooden church was built, and later, in 1825, a stone two-altar cathedral was erected in its place. The main altar of the cathedral was dedicated to the Dormition of the Most Holy Theotokos.
In 1834, with donated funds from the Odessa merchant Daria Kharlambu, a second monastery church with a bell tower was built in honor of the icon of the Mother of God "Life-giving source" (now - Uspensky)