Today, the name Commercial Bay refers to the heavily developed area around lower Queen Street and Viaduct Harbour.

Queen Street was formed down the valley, alongside the Waihorotiu, and eventually the stream was covered over.

The headlands on both sides of the bay were quarried away roughly within the 1860 to 1920 period, as Auckland used their stone as fill to reclaim seashore land for the growing city and built a new waterfront with various large quays.

Commercial Bay was where Logan Campbell erected his tent 1840 after hearing that Auckland was to become the capital of the colony.

By this time Smale's Point was already being quarried for fill and to allow easier passage to Freemans Bay.