Church of the Annunciation on Myachina is located south of the city, half way to the Yuriev Monastery. Here, in 1170 in memory of the miraculous salvation of the city icon "Our Lady of the Sign" Archbishop John (Elijah) with his brother Gavril (Gregory) Arkazhsky founded the monastery. And in 1179 for 70 summer days here it was built a stone church, which has survived only up to half the height. The upper part of the walls, arches and dome collapsed in the XIV century and was rebuilt at the same again.

In 1189 the church was painted. Customer paintings was the same Gabriel (Gregory), after the death of his brother who became Archbishop of Novgorod. The surviving fragments of quite significant now cleared and allowed to meet with one embodiment of the Byzantine style in the XII century monumental painting. The frescoes executed in a bold and decisive manner. Human figures graceful, delicate, very expressive face. The painting is executed in golden-yellow and purple-green tones.