Zeleni Venac is located in downtown Belgrade, just few minutes away to the east of Terazije, the designated center of the city, down the Prizrenska or Sremska streets.

The remains of the ancient graveyard were discovered during the construction works in the 1930s when the Brankova Street was extended to the Sava river, to make a connection to the King Alexander Bridge, which was finished in 1934.

At 16 Brankova Street a Roman tomb was discovered in 1931, with ceramics and coins from the period of the emperors Aurelian and Claudius Gothicus.

[3] Also during the Interbellum, in Kamenička Street, a golden polyhedron shaped earring from the early Middle Ages (Great Migration Period) was discovered.

When the foundations for the building of the Medical Association were dug on Zeleni Venac, more than 4 kg of the Late Roman coins were discovered.

During the Ottoman period it served as the burial ground for the Belgrade Serbs, until Prince Miloš Obrenović ordered the relocation of the graveyard to Tašmajdan in 1826.

The couple migrated to Belgrade in 1838, but after her husband's death, she decided to quit the hat making business, rented the house and turned it into the kafana.

[13] The Theatre Board insisted on this location as it was on the route of the main road which connected Varoš Kapija with Savamala and Vračar.

Some public figures objected, and Vuk Karadžić commented that the chosen location is ćorbudžak prema sredini beogradske varoši, the edge compared to the downtown.

The foundations were laid down but it showed that Kasano wasn't that experienced as the terrain remained rich in underground waters witch continued to flow down the Terazije ridge.

This required expensive massive deep foundations so the Theatre Board almost went bankrupt and the works stopped in 1857, draining large amount of money.

[4] Merchant Maksim Ranković from Ostružnica founded a drink store and built a two-storey house after the pond was drained.

Local kafanas remained the gathering place for the progressive high school and university students, workers, merchants, craftsmen and activists in the next decades.

Kafana Zlatna Moruna was a gathering place and an unofficial base of the members of Young Bosnia revolutionary movement, prior to the 1914 Assassination of Archduke Franz Ferdinand of Austria, a prelude to World War I, including Gavrilo Princip and Mustafa Golubić.

[4] A massive building, the Serbian Medical Society House, was finished in the early 1932 at the corner of the Kraljice Natalije and Prizrenska streets.

[16] After the farmers market was opened in 1926, Zeleni Venac became a terminus for the omnibuses to the interior (Lazarevac, Valjevo, Banja Koviljača, Zvornik, etc.).

The bridge was demolished during World War II, routes to Zemun disconnected, so after 1947 it was decided to make Zeleni Venac a public transportation hub as downtown Terazije became congested.

Author of the entire project, which regulated one of the busiest crossroads in the city at time with 100,000 vehicles daily, was Olga Divac.

On 18 November 2000, a group of skinhead hooligans, supporters of FK Rad, brutally attacked him erroneously assuming he was Romani.

[23] Further plans were announced in November 2021 which envisioned higher structures and reduction of traffic surfaces, even though the neighborhood is one of the most congested in Belgrade.

Project consists of three phases, marked by the streets, of which the latter two deal with Zeleni Venac itself: Balkanska-Kraljice Natalije, Kraljice Natalije-Lomina, and Lomina-Gavrila Principa.

Over a century old idea of making the terrace into the scenic viewpoint, from downtown Terazije, over Zeleni Venac, to the Sava, and across it further in the Syrmia, was discarded by architect and member of the Serbian Academy of Sciences and Arts Milan Lojanica [sr], who stated that "(this idea) is completely disavowed in our time by the gigantic structures in Belgrade Waterfront, erected right between the terrace and the Sava".

Also one of the major terminal stations of the city's public transportation, with almost 20 bus lines beginning there, is located next to the market.

It was the most modern open farmers market on the Balkans at that time as it included running water, sewage system, brick-walled shops and stores and gauged weighing scales.

There is a memorial plaque, commemorating Vojislav Stojković Keka and his sister Vera, originally from Golemo Selo near Vranje, who donated the fountain to the Belgraders.

[31] As the entire Terazije slope, including Zeleni Venac, is very active mass wasting area, it caused much of the public and academic debate during the reconstruction, especially when massive rains resulted in sliding which ruptured the streets around the market as if they were hit by a very strong earthquake.

The communal infrastructure was completely renewed, a special parking lot was built, and the area was protected from future mass wasting.

It turned out that it has several major inadequacies: it doesn't comply with the modern seismic regulations, the last two floors were added later and are unusable today due to the damages and the entire building has only 5 parking spots.

In 2009 the renovation began: the building was emptied, installations and internal walls removed but the works stopped when it was discovered that asbestos has been used for the facade.

[37] In August 2017, Stattwerk has disclosed its plans for the building, saying that it will be the first energy-efficient skyscraper with green facades in Serbia with different commercial and tourist facilities.