In recent years Theatre Square became an interesting place where a lot of people gather in the evening. The square appeared in this place in 1878. Then it was called Staroostozhnaya. However, the forming of its architectural ensemble began only after the construction of the Communal Bridge was finished in 1961. 

This bridge connected the banks of the Yenisei and Krasnoyarsk began to develop around it, and the square, which was then called Predmostnaya, became the central square of the city. Opera and Ballet Theatre was built on the square in 1966-78. The hotel Krasnoyarsk was built in 1970. The buildings of Krasnoyarsk administration with the famous clock tower (the natives call it «Krasnoyarsk Big Ben») and Yenisei steamship line face the square.

In 2005 it was renamed Theatre Square. The light and musical fountain was installed in the center of the square. Around the square there appeared a lot of restaurants, hotels and many other entertainment establishments.