This stone Georgian Revival building is all that remains of a massive industrial complex set along the Speed River in Preston.
A foundry was established here in 1843 by Jacob Beck and John Clare. Later, Beck sold his share to Clare and moved to Baden, ON. The foundry was eventually passed on to his sons George & Frederick, who renamed the factory Clare Brothers.
The original foundry burned down in 1894 and what became a massive complex, making furnaces, cast iron stoves and other cast iron wares was built from there.
For over 100 years, the Clare Brothers factory was a major employer in Preston. I'm not sure when it closed, but by the late '80s there was a proposal to redevelop the site for a mixed-use project, which would have saved and re-used part of the factory. Sadly, plans fell through, and the entire factory, save this one building, was razed. It has since been replaced by a couple of residential high-rises.