Metropolitan Cornelius of Arkhangelsk and Kholmogory chaired a meeting on the planned restoration of St. Nicholas Cathedral, the Holy Dormition Church, and the bell tower, which are part of the former Nikolo-Korelsky Monastery in the city of Severodvinsk (Arkhangelsk Region), Russia.

This monastery is believed to have been founded in the late 14th century by St. Euphemius, an Orthodox missionary in the Karelian lands. The main church of the monastery was dedicated to Saint Nicholas, the holy patron of sailors. The wooden church was burned down, and the five-domed cathedral of St. Nicholas was built of stone in 1670–74, preceded by the Holy Dormition church (1664–67), to which it is joined by a gallery.  After the Revolution, the Monastery was abolished.  

In the 1990s, some of the monastery buildings were transferred to the church. The Cathedral of St. Nicholas the Wonderworker was the first to be restored. On April 7, 2005, with the blessing of Bishop Tikhon of Arkhangelsk and Kholmogory, the first Divine Liturgy was celebrated in the cathedral.

On August 22, 2009, Patriarch Kirill celebrated an All-night Vigil in the former monastery. In December 2009, five domes and crosses were installed on St. Nicholas Cathedral. The original domes were lost in 1933 in a fire, allegedly caused by lightning. The drums of the cathedral were destroyed in 1936. 

The restoration was carried out via parishioners’ donations. 

In November 2021, the revival of the Nikolo-Korelsky monastery was discussed at a meeting chaired by the President of the Russian Academy of Sciences, Alexander Sergeev. Dr. Sergeev expressed support for the Arkhangelsk diocese in organizing restoration of the monastery buildings.