Francis Ashby Waldron (1816-1898) was born in Buckfield, Maine to an old New England family. He moved to Portland for job opportunities and worked as a merchant, eventually establishing Waldron and True with business partner Samuel True. The firm was engaged in dealing grain, salt, corn, and more. After a few years of profits, Francis had this Italianate style mansion built on the fashionable Deering Street just west of Downtown. The property was passed down to his children after his death in 1898, and it remained in the family until 1950. The house originally had a prominent belvedere at the roof, but it was eventually removed. The former Waldron House is now maintained as a law office.