Just south of the ancient fortress ramparts of the city of Romanov lies the Romanov settlement. This place was originally called Leontievka in honor of the lost church of St. Leontius of Rostov. There is still Leontievskaya Street here, leading to the cemetery. From the time of the settlement, only one monument remains, the stone church of the Ascension of the Lord. It is known that two wooden churches previously stood on the site of the current church. One of them, the cold church, burned down in 1743 due to a large fire, while the second, the warm winter church of St. Paraskeva Friday, also suffered from fire but was restored and existed for some time.

A few decades later, the Paraskeva church burned down again, and it was decided not to restore it anymore. In its place, a two-tier cubic church of the Ascension of the Lord was built, with a refectory and a five-domed completion. Another dome was arranged above the refectory. The lower warm church was consecrated in 1795 in honor of the icon of the Mother of God "The Sign," while the upper summer church was completed by 1815 and consecrated in honor of the Ascension of the Lord. Altars were also consecrated in the name of St. Paraskeva Friday and St. Sergius of Radonezh. The octagonal bell tower, built in 1810, is unusual in that it seems to "grow" from the middle of the refectory, which is related to the long history of the construction of the complex. The church was built through the efforts of Romanov merchant Grigory Karpovich Syreyshchikov and parishioners. With the support of merchants Sergey Mikhailovich and Mikhail Sergeevich Novikov, the church was constantly repaired and updated, church utensils, vestments, and books were acquired, and a two-story house for the church clergy was purchased. Sergey Mikhailovich was the church elder for 18 years. The summer church was painted, but after its closure, the paintings were covered with oil paint, although images of saints are still visible.

Today, the church is active. The Ascension Church represents an example of a provincial cult structure from the late 18th century: it is a two-tier refectory-type church with a lower warm and upper cold church and an integrated bell tower. A porch adjoins the church from the south. The decorative embellishment is restrained. The church is especially beautiful from the southern facade: it is geometrically correct and slender.