The Theatre Square is due to its name to the Vladimir Regional Academic Drama Theater. The uniqueness of the theater is its five scenes, which makes it possible to give several performances at once. The oldest theater of Vladimir was founded in 1848 and moved to a new building on the Noble Street in the 1970s. It was then that the Theatre Square with flower beds, benches and lanterns appeared. Since 2008 an old two-story building in the western part of the square has been occupied by the private theatre company Favor Theater.
Opposite the Vladimir Regional Academic Drama Theater is the Old Believers' red brick Trinity Church built in 1916. Now it is a branch of the State Vladimir-Suzdal Museum-Reserve – Museum of Decorative and Applied Art. The main focus of the exposition are masterpieces from the glass of the craftsmen from Gus-Khrustalny town in the Vladimir region. Here one can find 18th-century products, 19th century crystal sets and vases in the modernist style of the early 20th century. A separate hall is occupied by embroideries, lacquer boxes and icons of the famous Mstera School of icon painting.