In 1948, building No. 1 on Dyakonov Street housed "Schastlivaya Station." The Wedding Palace building (No. 1) was built in 1939 to a design by the architect B. M. Anisimov as the terminal station of the "Schastlivaya" children's railway; by the 1960s trains had stopped running there and the station ceased to exist, after which the building served as a movie theater and a young railwayman's club; the Gorky Automobile Plant carried out a reconstruction in the 1970s, and on February 19, 1979, the Wedding Palace opened here.

The street smoothly continues Oktyabrya Avenue; the boundary between them is marked by a railway crossing spur; farther on, the street crosses the Severny microdistrict, intersects Busygin Avenue at a right angle, and ends at Lesnaya Street, beyond which an industrial zone begins. The street was renamed in 1970 in honor of Sergey Sergeyevich Dyakonov, one of the first directors of the Gorky Automobile Plant, who held that post from 1932 to 1938. The street is home to School No. 136 (formerly No. 30), whose history began in 1938; during the Great Patriotic War the building was given over to evacuation hospital No. 2814, and in 1995 a Memorial Hall dedicated to those events was created at the school; since September 1, 2011, the institution has held the status of a gymnasium, the third in Avtozavodsky District.

On the right side of the street, in the rebuilt building of the former "Emka" club, the EUROSPAR shopping center has opened, while on the left is the "Novy Vek" shopping center of the "Narodny" group of companies, which appeared in 2003 after the reconstruction of a Soviet supermarket. Dyakonov Street is also the site of the Church of the Holy Martyr Tatiana: the parish was organized in 1996, the church was built by Easter 1998, and at the same time the community was given the unfinished building of the "Sever" movie theater, which was converted into the Avtozavodsky Orthodox Center; in 1999 construction began on the Cathedral in honor of Nicholas the Wonderworker.


Dyakonov Street (formerly Zapadnaya) is located in the Northern Settlement of Avtozavodsky District. It is perpendicular to Tavricheskaya Street.