The Assumption Church by the ferry in Pskov is located opposite the floating bridge. It was originally built in 1444 and then restored in 1521. The icons of the Meeting and the Mother of God in the Pechory Monastery depict the church, dating back to the late 16th or early 17th century. Since then, the exterior of the church has changed significantly, yet it remains a prime example of Pskov-Novgorod architecture.

Yuri Spegalsky wrote about the Paromenskaya church, stating that it is the first monument encountered by anyone crossing the bridge from the center of Pskov to Zavelichye. A bridge has existed at this site since ancient times, built on rafts. In winter, it was dismantled and reassembled after the spring floods, and while the bridge was not ready, it was replaced by a ferry.

The modern church was built in 1521 on the site of an older one. In the late 17th and early 18th centuries, it acquired its current appearance. At that time, its dome with a neck, four-pitched roof, and side extensions with rectangular apses appeared. The covered porch in front of the western narthex dates back to the late 18th or early 19th century.

The church has not yet been thoroughly studied, and precise data on its original architecture is lacking. It is known that the temple had an eight-pitched roof and an onion dome. To the south, there were side chapels and a narthex, likely similar ones were on the north side. Galleries passed between the narthexes. Inside the temple, in the southeast corner of the square, under the roof, there was a niche illuminated by a narrow window. Above the iconostasis, a 16th-century completion has survived. Until 1944, the dome was adorned with a 16th-century cross, which was replaced in 1948.

The interior of the temple has been spoiled by later paintings, but its proportions give it grandeur. The tents are interesting, with traces of beams that supported the iconostases remaining in the walls. Old floor tiles and windows have been preserved, as well as wooden window sills installed in 1521. The original entrance to the tents was from the choir, accessed by wooden stairs.

The church was closed in 1938, and during the Soviet era, the dome was restored. The bell tower housed the blacksmith workshop of the famous Pskov blacksmith Vsevolod Smirnov. The temple was returned to the Russian Orthodox Church in 1994 in a deplorable state. Restoration work began with the chapel of Saint Princess Olga, where services have been held since 1995. In 1998-99, the main chapel of the Assumption of the Mother of God was restored.

A four-tiered iconostasis with 53 icons was created with donations from employees of the Internal Affairs Administration of the Pskov region. The icons were painted by icon painters from Velikiye Luki and Pskov. The Assumption church is an "attached" church of the Pskov police, and its rector serves the units of the Internal Affairs Directorate of the Pskov region.

After the church's restoration, work began on the bell tower. First, debris and rubble were cleared, then funds were raised for repairs. As a result, on November 7, 2008, the people of Pskov heard the first ringing of the bells.