The street takes its name from a dam built across the River Poddle to provide water power for milling.

[2] Among the notable residents was Francesco Geminiani, whose house on Dame Street had a concert hall attached.

Daly's Club was founded in the 1750s at numbers 1-3 Dame Street and remained there until 1791, when it moved to College Green.

This building also featured a paved courtyard which served as a pedestrian shortcut between Merchant's Arch and the Ha'penny Bridge beyond.

Initially, planners wanted the facade of the building retained, but it was discarded, and eventually, a replica was constructed in the scheme.

Commenting on the scheme in September 1972, Architects' Journal stated that the proposed building was "an exercise in how to do the greatest urban damage".

The glass and cast iron canopy of the Olympia Theatre which extends out over the footpath is a prominent landmark on the street.