The monastery is a 12th century Byzantine monastery situated in the Valtos area of Parga. The surviving bell tower is 15 meters in height. It is said, that it was built by the residents of Constantinople (Konstantinoupolis), when for various reasons they left the Constantinople in Turkey and dedicated it to the Virgin of Vlahernon to remind them of their homeland. In the ruins surrounding the small church, battlements can be seen.
The half-ruined monastery, which represents the remains of another era and culture looks towards the village of Parga and the future of Parga showing the respect they deserve.