The massive red iron building was named after a famous politician and jurist from Porto, José Ferreira Borges, who supported the liberal troops during the civil war in the 19th century, thus making his own mark on the political and economic life of Portugal. The market Ferreira Borges was built in 1885 to replace the old Mercado da Ribeira. However, due to the reluctance of the retailers to leave the previous market, it never fulfilled its intended purpose. The building's uniqueness is due to the fact that it is a remarkable specimen of the period of cast iron construction in Europe, from which only a few buildings survive. Cast-iron architecture was a popular and revolutionary type of building design used in commercial and industrial buildings around the world in the mid-1800s. Its golden age was short-lived and occurred in the beginning of the 20th century. It was replaced by steel-skeleton construction that made modern skyscrapers a reality.