The Velozavodsky market took its name from the street ‘Velozavodskaya’ and was built in 1932 based on the project of architects Y.S. Grinevetsky and M.F. Oleneva. Earlier in this area there was the first bicycle factory in Moscow. In 1973, a new typical Soviet-era building was built at its place. For many years of operation, the building became dilapidated and ceased to meet the tasks for which it was designed.
In 2017 the facility was closed for reconstruction and reopened as a modern shopping complex in 2018.