The Novodevichy Monastery was founded in 1524 by Grand Prince Vasily (Basil) III in commemoration of the conquest of the city of Smolensk in 1514. It was built as a fortress at a curve of the Moscow River and became an important part of the southern defenses of the capital, a ring of defenses that already included a number of other monasteries including the Donskoy Monastery. When it was founded, Novodevichy Convent was granted 3,000 rubles and ownership of the villages of Akhabinevo and Troparevo. Ivan IV later granted a number of other villages to the convent.