The Assumption Church is located on the territory that was once part of the Pushkin City Park of Culture and Recreation, and was once part of the Fair Square. In 1734, by decree of the Holy Synod, thanks to the efforts of Saransk merchants Ivan and Stepan Kotelnikov, a new church with gilded crosses was built on the site of two old wooden churches, consecrated in honor of the Assumption of the Blessed Virgin Mary. The street was also named after the church, Assumption Street.

In 1802, merchant Kazitsyn built another stone church in the Empire style next to the Assumption Church, consecrated in honor of St. Nicholas the Wonderworker.

In 1882, a new bell tower was erected between the churches with funds from the Syromyatnikov merchants, replacing the previously demolished bell tower of the Assumption Church. Thus, the two churches united into a single complex: the Nicholas Church became the winter church, while the Assumption Church served as the summer church.

In 1905, the wooden lattice of the stone fence was replaced with a wrought iron one.

Both churches were closed on November 16, 1930. The Assumption Church was turned into a shoemaking workshop, and in 1934-1935, it was demolished along with the bell tower. The Nicholas Church survived and was used as a sobering-up station, a warehouse, a police post, and a utility room for the Pushkin City Park of Culture and Recreation. After repairs in the early 1980s, it housed a rare book museum. There were also plans to equip a planetarium, but the project was not realized. At that time, the building was recognized as a monument of architecture from the first half of the 19th century.

In 1992, the building was returned to the Church and consecrated by Bishop Varsonofy, the Bishop of Saransk and Mordovia, in honor of the Assumption of the Blessed Virgin Mary. On May 20 of the same year, the first service was held in the church, an all-night vigil in honor of the Apostle and Evangelist John the Theologian. In the following years, the church was repainted, new floors were laid, and in 2006, a new bell tower was built on the site of the destroyed one according to the original project.

On July 15, 2008, His Eminence Archbishop Varsonofy consecrated the church in honor of the Placement of the Honorable Robe of the Most Holy Theotokos at Blachernae on the second tier of the bell tower.

The returned churchyard, the dimensions of which were determined by archival photographs, was enclosed with a metal fence. Inside, there are plans to build a Sunday school building with a computer classroom.