Fensala Hall was built in 1903 by the Markerville district pioneers. The pioneers formed the Fensala Stock Company and sold shares to gain funds to build the hall. Fensala is named after the home of Freyja, the Goddess of Love. 
In 2003, the Stephan G. Stephansson Icelandic Society gained ownership of the hall and completed the restoration in 2006. The restoration included the addition of a commercial kitchen and modern amenities. Fensala, a designated Provincial Historic site, is the longest continuously operating community hall in Alberta.