The Ascension Church of St. Theodosius is one of the most famous symbols of Perm. It was one of the last churches built in Perm before the revolution. A merchant Alexander Balabanov began the construction of the church. So, at first it was called a «merchant church».
To the 30th of the past century the church had one of the largest parishes in Perm. It consisted of upper and lower temples. The church altars were dedicated to Theodosius of Chernigov and the Ascension, so it was called the Ascension Church of St. Theodosius.
In the 30th of the 20 century it was closed. At first, it was occupied by a hostel and then a bread factory, which worked from 1935 through 1970. In 1991 the church was returned to the believers.