The owners of the Smith and Watson Iron Foundry used this building to highlight the capabilities of their firm. Generally thought to have been some of the finest cast iron art ever produced in Portland, the classically-inspired ornamentation included majestic columns with elaborate foliate Corinthian capitals, cast female heads, elegant medallions with intertwined “S” and “W” initials, ornate arches, and pilasters. Later uses of the building included serving as the Berkshire Hotel.

The Smith and Watson Building was demolished to make way for a new Portland General Electric complex in 1974, but much of the cast iron was salvaged by the Portland Friends of Cast-Iron Architecture and presented to the Oregon Historical Society for storage in hopes that the pieces would be preserved and possibly re-used. In 2006, the Society gave the cast iron to the Architectural Heritage Center.