The church was located on Uspenskaya Street by the Volga River and was part of the Assumption Monastery. During the siege of the fortress by Stepan Razin's troops in 1670, the monastery and church were destroyed. In 1673, a new stone church of the Assumption of the Mother of God was built on this site, with an altar in honor of Saint Nicholas, consecrated in 1674. The church, which was part of the monastery, had a clergy to serve the parishioners of the lower part of the city.

In 1724, the monastery was closed, but the church remained active until 1826, after which its parishioners and the church itself were attached to the Peter and Paul Church. In 1854, the Holy Synod transferred the Assumption Church to the Old Believers who had joined the Orthodox Church. The clergy and parish were restored in the church. However, in 1866, due to the relocation of residents from the coastal part of the city, the church was dismantled and moved to the upland area, and a chapel was built in its place.

A new stone Assumption Church was erected in 1867 at the corner of the modern streets of Gagarin and Millionnaya, but now a five-story residential building stands there. The church existed until the 1930s. It had historical and memorial significance, forming one of the old streets of the city leading to Kazan, along which A.S. Pushkin traveled to Simbirsk in 1833. The original location of the church by the Volga River contributed to the creation of a picturesque silhouette of the embankment from 1649 to 1866.

The new location of the Assumption Church on Novokazanskaya Street since 1867 created a vertical accent and enriched the vertical silhouette of the city from the northwest side. To the west of the church was a bell tower, followed by a refectory and a temple in the shape of an octagon on a square base. The church was built in the Byzantine style, plastered and covered with sheet iron, painted with copper paint.

The Assumption Church was consecrated in 1868 and had three altars: the main one in honor of the Assumption of the Mother of God in the cold section, on the southern side, in the name of the Protection of the Blessed Virgin Mary, and on the northern side, the refectory in the name of Saint Nicholas.