The square had appeared in the XVI-th century and since then was the center of the social and economic life of the city.
In 1778 it was redeveloped according to the architectural plans of the Catherine II's commission and received a modern form.
The building of the square was formed later — from the XIX-th to early XX-th centuries.
Torgovaya square is located in the center of Ustyuzhna, on the right bank of Mologa river, at the intersection of Lenin Street and Korelyakova Lane.
[1] From the east, the area is bounded by Vorozha River's pond, which separates Torgovaya Square from the Sobornaya one.