The Vozdvizhenskaya Church is an architectural monument, located on a small hill on the bank of the Ternopil Pond, which is why it is sometimes called the Overhead Church. The oldest temple in Ternopil was built in 1570 by the founder of the city, crown hetman Ya. Tarnovsky, on the site of an ancient Russian temple from the time of Danila of Galicia. In 1627, a square bell tower was completed from the west. In a fire in 1831, the roof was destroyed, the interiors were damaged, and part of the church utensils were lost.
During the battles of two world wars, the church lost its bell tower, unique frescoes and iconostasis. In 1959, the Vozdvizhenskaya Church was restored, but for 30 years it was not used as a place of worship. The unique icons from the temple - "The Savior", "The Baptism of Jordan" and "Exaltation of the Holy Cross" were transferred to the Ternopil Museum of Local Lore. Since 1991, the Church of the Exaltation of the Holy Cross has been owned by the Ukrainian Orthodox Autocephalous Church.