The Fish Market Arcade is the only remaining building of the old city market, which once covered the entire Soborna Square area – including the current House of Councils, the park behind it, and the adjacent block all the way to the Spartak sports complex. The arcade is located in the courtyard of the Faculty of Physical Education of Bohdan Khmelnytskyi Cherkasy National University, and one of its ends opens into the backyard of a residential building on Khreshchatyk Street.

There is a hypothesis that the project was designed by the famous Kyiv architect Vladyslav Horodetskyi.
The area where the Fish Market Arcade stands used to be the very heart of the city – both a central trading point and religious square that brought citizens together. Today, the building is owned by the university and is used as a storage space.