It was built in 1964-67 accordingly to design of architects S.I. Evdokimov, A.P. Izotko and engineers V.F. Minin and L.F. Onezhski.
The swimming pool was renovated for Goodwill Games in 1994.
People say that initially some foreign company took the renovation contract, but hadn't finished it. So some domestic construction crews completed the job under terrible time pressure. To show to everyone that job was done right, the Mayor Anatoly Sobchak personally dived in during the opening ceremony.