On this site in the mid-1850's Francois L.A. Pioche built an office building which housed the banking firm of Pioche et Bayerque, one of the most important financial institutions in the West during the two decades after the Gold Rush. The financing and development of many important companies resulted, such as the San Francisco Market Street Railroad, the San Francisco & San Jose Railroad, and the Sacramento Valley Railroad, the first railroad in the West. Additionally, financing for the Jackson Street Wharf, the San Francisco Gas Works (principal predecessor to P.G.&E.), and the Spring Valley Water Company resulted from this early banking institution.
Mr. Pioche's building was one of the survivors of the 1906 Earthquake and Fire, only to be torn down and replaced in 1964. That building was substantially remodeled in 1982 to reflect its heritage.