The Town Hall was built by the St. George's corporation under Mayor John Van Norden in 1802. The St. George's Corporation approved the plans for a town hall under its first Mayor, Andrew Durnford, in the 1790s.

John Van Norden and other leading citizens of the town sponsored two lotteries to raise money for the building of the Town Hall a market and improvements to the wharves. Work began on the building in 1802, and starting in 1805, the building served as a third public meeting place in the town along with the State House and St. Peters Church.

A market which was run by a Corporation appointed clerk was opened on the lower floor in September 1809. The St. George's market provided a much-needed outlet for the town's free black population, slaves, and others who sought to become a part of the economic life of St. George's.The market was opened from sunrise to sunset on weekdays and for a couple of hours on Sundays.

The opening of the market on the ground floor of the Town Hall led to the square, which had previously been called King's Square or the Parade, being called Market Square. In the 1830s the St. George's market was moved to a new building which was constructed on the wharf to the east of the Town Hall and which now serves as the town's restrooms.

Throughout the 1800s the ground floor was used for various purposes but a small office for the Mayor of the town was retained.

In the 1870s, St. George's first telegraph office was located at the northern end of the building. In the 1900s, the lower floor of the Town Hall served as a butcher's shop and later as a hardware store. The exterior stairs were added in the 1920s and the Town Hall was restored by the corporation of St. George's in the 1940s.

The town hall continues to play an important role in St. George's life and the monthly meetings of the Mayor, Aldermen, and Common Councillors who administer the town are still held there.