A monument of architecture of local importance (security number 172 M).
The building is a unique example of urban development of the palace type of the second half of the XIX century. A two-storey brick building of U-shape with a tent four-pitched roof, made in the style of classicism. The architectural splendour of the facade is added by a two-tiered two-column portico decorated with an attic and a small spire, as well as walls cut by pilasters and framed by cornices.
The original purpose of the building is not known for certain, it is likely that it could be a family noble estate/mansion. With the outbreak of World War I, the former palace was converted into a military hospital, and in the interwar period (20-30s of the twentieth century) the town cooperative hospital was located in its premises. With the entry of the town into the USSR in 1939, the building was finally nationalized, and the Kremenets Music School opened within its walls, which continued its activities after the end of World War II. In the postwar years, its director was the Ukrainian cultural and public figure, musician, conductor and teacher Ivan Hipskyi.
In the 70s of the twentieth century, the building was reconstructed, as a result of which a concert hall and a spacious lobby were completed to the back of the building. However, the original appearance of the interior was almost completely lost.
Nowadays, in this building functions the Kremenets School of Arts named after Mykhailo Verykivskyi – Kremenets citizen, a famous Ukrainian composer of the twentieth century, conductor and folklorist, who wrote more than 400 musical works during his work.