The Ascension Church was located on the high right bank of the Vologda River, not far from the confluence with the Zolotukha River, on the so-called "Known Hill." The first mention of the wooden Resurrection Church dates back to 1627, but the exact date of its founding is unknown. In the church books of the 17th century, it was listed as a parish church. In some documents, the church's name was supplemented with "by the floating bridge," as there once was a raft bridge across the Vologda nearby. The street leading to this place was called "Bridge Street." According to the "Census Book of the City of Vologda 1711," near the Ascension Church, to the south, on the bank of the Zolotukha River, there were "stone Nikolsky gates," remnants of the city fortifications begun during Tsar Ivan the Terrible. Ascension Street led from the gates to the church.

As was customary at that time, there was a parish cemetery at the Ascension Church, as well as at other churches in the city, in the 17th and 18th centuries, until the time of Catherine II.

The stone temple was built in the late 17th century, as confirmed by a petition submitted in 1698 by parishioners Borisov and Rybnikov to Archbishop Gabriel, requesting permission to build a new stone church on the site of the old wooden one.

The church was a small one-story building of cubic shape with one dome and a drum, decorated with triangular recesses, arches, and columns around the windows. On the drum was a dome with a short neck. A warm section adjoined the western part of the church. The temple was connected to a quadrangular bell tower with a tent-shaped top and a single-tier bell ringing, attached to the northern side of the warm section, which is rare.

On August 28, 1700, the main altar, serving as a cold temple, was consecrated in the name of the Ascension of the Lord, as evidenced by an inscription on the church's cross. Among the revered icons were the icon of the Ascension of the Lord, the Icon of the Mother of God of the Guide, and the icon of the Uncreated Image of the Lord.

In the warm section, there were two altars. The oldest of them, in the name of the Placement of the Robe of the Most Holy Theotokos, was located on the northern side under the bell tower and was consecrated by Bishop Joseph the Golden, who served from 1761 to 1774. Here, the icons of Saint Simeon the God-receiver and the Vologda miracle worker, Blessed Galaktion, with 24 miracles depicted around the edges, were especially prominent. The third altar, in the name of the Mother of God of the Three Hands, was located on the southern side of the warm section, and the time of its foundation is unknown. It attracted attention with the icon of the Resurrection of the Lord and the icon of the Mother of God of the Three Hands.

The Ascension Church was one of the poorest in the city. In 1831, due to poverty and a small number of parishioners, it was annexed to the Protection Church on the Trade. However, in November 1867, by the decision of the Vologda City Society and with the blessing of the archpastor, the church was restored for regular services in memory of the salvation of Emperor Alexander II's life in Paris on May 25, 1867, on the day of the Ascension of the Lord. The temple, which had fallen into disrepair, was renewed through the efforts of the townspeople.

In 1891, Father Alexander Nikolaevich Badanin, who had previously served in the Sofia Cathedral, became the rector of the church. Thanks to his efforts, the church gained its own parishioners.

During the Soviet era, the church was completely destroyed, and a stadium now stands in its place.