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It was built to thank for the access to the fresh water pipeline going to the central imperial palace for Margareten in 1835/36. It features Saint Margarete killing a dragon.

Built by the architects Ferdinand Fellner und Hermann Helmer in 1884/85.

Two previous churches were located here, the most recent a Baroque building from the 18th century, which despite massive popular protest was demolished in 1965 due to traffic considerations. The new steel and concrete church was designed by the German architect Rudolf Schwarz and built between 1961-1965. A defining characteristic is the interplay of light concrete and dark glass, with the entry side featuring an oversized cross motif, and the side featuring a herringbone pattern. The main altar from the old church, painted by F.X. Wagenschön and depicting the transfiguration of St Florian, is now located in the organ loft of the new church.