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This property’s contribution lies in its role in the economic intensification of the District in the late 19th century; its location on the original Court House Reserve of the Town of York; and its relation to the adjacent Milburn Building (47 Colborne Street), a heritage commercial block of a similar style and age. The structure also contributes to the physical character of the District through the integrity of its distinctive Romanesque Revival architectural features; the structure can be seen as an ornate expression of the commercial warehouse typology within the District.