In 1941, the Rt. Rev. Emilio Iasiello, Pastor of St. Raphael Parish in downtown Bridgeport, saw a need for a satellite chapel to accomodate parishioners living in the northern reaches of the Parish. After searching for the ideal location, Fr. Iasiello found a plot of land on Park Avenue and with support of the city's Italian community, a small colonial style chapel was erected and named for St. Margaret. On September 20, 1942, it was dedicated by the Most Reverend Maurice F. McAuliffe, Bishop of Hartford. At that time, the Diocese of Bridgeport did not exist.
 
 Inspired by the events of World War II, Fr. Iasiello's intent was to establish St. MargaretChapel as a monument of peace. After the attack on Pearl Harbor, his plans were expanded to add religious statues and chapels where worshippers would offer their prayers for those serving their country and for those who had given their lives.
 
 To fulfill this goal, adjacent properties were purchased. The land was predominantly ledge which had to be blasted and cleared. In the process, a grotto-like area was created: Monsignor Iasiello looked upon it as a perfect spot for a replica of the Grotto of Lourdes. A shrine to Our Lady of Lourdes with St. Bernadette kneeling in prayer, was blessed by the Most Reverend Henry J. O'Brien, Archbishop of Hartford. This was the forerunner of many shrines honoring saints from countries around the world, i.e., Italy, Cuba, Mexico, Portugal and Vietnam.
 The grounds were landscaped and small water pools created. The topography includes stone pathways, wide stairways, gentle hillsides and picturesque bridges. Gradually, statues, shrines and chapels were erected and St. Margaret Shrine became known as a great haven of beauty and peace.

In January 2012, the Most Reverend William Lori, Bishop of Bridgeport, as a gift to the people of the Diocese, designated the Shrine as The Diocesan Shrine, an entity unto itself, no longer under the auspices of any one parish.
 
 The Most Reverend Frank J. Caggiano, current Bishop of Bridgeport, visits our Diocesan Shrine frequently and has celebrated Mass at the outdoor Pieta Altar. It is a privilege to have his admiration and support.
 
 On a lofty pedestal at the entrance to the Meditation Gardens, is a 9 foot statue of Chris the King carved in Italy of Carrara marble. It is a replica of Our Savior with arms outstretched; He beckons all to come unto Him and join Him at this "Oasis for Prayer in Connecticut."