The Noble Assembly was the main body uniting the nobility by class, established based on the "Charter on the Rights, Liberties, and Privileges of the Noble Russian Nobility" dated April 21, 1785. This legislative act allowed nobles in each provincial city to have their own house for conducting elections, which also served as a place for communication and relaxation.

The organizational meeting of the Penza Noble Society took place on November 5, 1785, in the house of the provincial leader of the nobility, E. P. Chemesov. In 1788, a wooden house belonging to the court adviser O. M. Machavariani was acquired for the Noble Assembly, which was sold in 1794 before the construction of a new stone building began. The construction was carried out by Penza merchants Dyachkov, Ivanisov, and Shulgin in 1794 and 1796. In 1845-1847, merchant of the 1st guild P. V. Sergeev expanded the building according to the project of architect V. Morgan, changing the facade. In the early 1870s, during a major renovation, the grand staircase was updated and the hall was decorated with stucco. At the end of the 19th century, an iron canopy with the coat of arms of Penza, depicting three sheaves tied with ribbons, appeared above the main entrance.

The building of the Noble Assembly was used for elections, meetings, balls, concerts, and performances attended by representatives of the Penza aristocracy, including famous poets V. A. Zhukovsky, P. A. Vyazemsky, and writer M. N. Zagorsky. At one of the balls, poet Denis Davydov met Yevgenia Dmitrievna Zolotareva, to whom he dedicated a cycle of poems. Famous musicians such as violinists L. S. Auer and Y. Kubelik, pianists S. I. Taneyev and I. Hofmann, and singer N. A. Obukhova performed at the concerts.

On February 15, 1918, the Palace of Labor opened in the building, where socio-political and cultural events were held. In 1936, it housed the House of Pioneers, and in 1987, the building was transferred to the city’s Youth Theater (TYUZ). However, due to the need for significant repairs, performances were not held there.

Since July 2008, the building has housed the Legislative Assembly of the Penza Region, opening a new chapter in the history of this ancient building.