Formerly the hotel of entrepreneur Skoryna, the „Slovyanskyi” building is one of Cherkasy’s most recognizable landmarks. It was constructed at the end of the 19th — beginning of the 20th century, most likely designed by architect Vladyslav Horodetskyi. The building’s architecture combines Neo-Gothic, Romantic, and Modernist elements with traces of Classicism and Eastern motifs. Its facade features elegant towers with spires, arched windows, decorative balconies, and intricate stucco. The corner tower at the intersection of Khreshchatyk and Dashkovycha streets dominates the structure. In the early 20th century, the building housed a confectionery café and a clock shop owned by I. P. Zeiger.

According to local legend, the great opera singer Feodor Chaliapin once stayed here and miraculously restored his voice with the help of a local cat. Inspired by this story, in 2023 a bronze cat sculpture was installed on the balcony of the „Blue Palace,” becoming a new symbol of the building. Between 2022 and 2024, the building underwent major restoration. The roof, spire, balconies, and decorative details were renewed, while the wrought-iron elements and windows were restored. The facade color was returned to its historical warm sandy hue instead of the bright blue shade it had in recent decades. The surrounding area was also cleared and improved to reveal the beauty of the architecture.