The community was founded in 1999 by [[Elder Ephrem|Elder Ephraim]] of Philotheou with the blessing of His Eminence [[Metropolitan]] [[Alexios (Panagiotopoulos) of Atlanta|Alexios]] of Atlanta. The original [[monk]]s came from [[St. Anthony's Greek Orthodox Monastery (Florence, Arizona)|St. Anthony's Greek Orthodox Monastery]] in Arizona, as well as the holy [[Philotheou Monastery (Athos)|Monastery of Philotheou]] on [[Mount Athos]].
The monastery lies on a beautiful property with rolling hills, in an area of Florida known for its Spanish moss covered live-oak trees, horse farms, and horse-training facilities. The property was originally a sugar plantation.
The monks support themselves by making beeswax candles as well as maintaining a bookstore and giftshop. The monastery is dedicated to the [[Theotokos]] and is named after the famous historical church of the Panagia of Blachernae in Constantinople.
The monastery celebrates its major feast day on [[July 2]], the feast of the Deposition of the Sacred Robe of the [[Theotokos]] at Vlahernes. In addition, twice a year it celebrates the feast day of St. [[Sava the New|Sava the New of Kalymnos]] ([[December 5]] and 5th Sunday of [[Great Lent]]). All services are in Greek and follow the Athonite [[typicon]].