The Nizhny Novgorod Fair (Nizhegorodskaya yarmarka) occupies a large neoclassical building complex on the low-lying land across the Oka from the Upper Town — the same floodplain that was for centuries the site of the greatest trade fair in Russia, if not the world. The surviving Main House, built in 1890, is now used for exhibitions and events, and the restored Alexander Nevsky Cathedral (completed in 1881) stands beside it.
The fair ran from August to October every year from the early 19th century until the revolution, and the name "Nizhny" became synonymous with commerce throughout the Russian Empire. The current exhibition complex still hosts trade fairs and public events. The surrounding area has been cleaned up somewhat and there is a pleasant walk along the riverbank toward the cathedral, whose twin spires are one of the landmarks of the lower town.