A display substrate, a method of fabricating the same, and a liquid crystal display apparatus having the same. The display substrate includes a storage electrode extending over first and second areas formed on a substrate, a insulating layer pattern formed on the storage electrode, and first and second pixel electrodes formed on the insulating layer pattern. At least one of the first and second pixel electrodes has at least one recess. The insulating layer pattern has first and second openings formed in the first and second areas corresponding to the storage electrode. Accordingly, electric short circuits between the first and second pixel electrodes is prevented due to the recess or the openings during the manufacturing process for the first and second pixel electrodes.