The cemetery was purchased in 1858 by St. James Episcopal Church, Alexandria. It is the second oldest cemetery in Rapides Parish and has always served as a community burial ground. The earliest marker is 1824.
Mount Olivet Chapel was established as a mission of St. James and was consecrated on June 29, 1858 by Bishop Leonidas Polk. The gothic style building was erected from the plans of the church architect Richard Upjohn. During the Civil war, the building was used by the Union Army. In 1972, the chapel was given to the Episcopal Diocese of Louisiana, and since 1980 has served as the headquarters of the Episcopal Diocese of Western Louisiana.