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The Franklin House was built in 1855 by William Graydon and Peter Douglas. It was originally built as the private residence of Peter Douglas, who in 1859 went on to sell it to Bennet Franklin, a partner in Barber Brothers Toronto Woollen Mills. Following Franklins death the building remained named "Franklin House". In 1877 the building was converted to a Hotel and Public House which eventually in 1910 under new ownership was renamed "Queens Hotel".
In 1927 it ceased to operate as a hotel with the enforcement of the Canada Temperance Act, but has continued to be used for commercial purposes. The building is said to have narrowly escaped demolition in 1979, and today The Franklin House is designated and protected under the terms of the Ontario Heritage Act. In 2008 The Franklin House opened its doors, carrying on the tradition and paying tribute to the original building and its history.