John and William Marland were the principal investors in the Ballardvale Manufacturing Company, under whose auspices the area was developed.

It was named for Timothy Ballard, who had previously operated a sawmill and gristmill at the mill location set up by the Marlands.

For about 100 years between 1835 and 1935 there was a remarkably self-contained community here: in addition to the mills, it included shops, churches, a school, and a railroad station.

Much of the housing was relatively modest cottages on small lots, with popular styling details of the time.

One other notable structure is a c. 1872 wrought iron truss bridge that crosses the river below the mill complex.