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This area used to be covered by the Caledonian Market, a large meat market built by the Victorians to replace Smithfield. It changed over time and ended its days as a flea market, in c.1963.

describes the redevelopment: The northern part of the main market site was redeveloped by the GLC as the Market Estate and completed in 1967 to a design by architects Farber & Bartholomew. On the western area where sheep were kept, the Corporation built the York Way Estate to designs by McMorran & Whitby and completed in 1969. The southern area of the market, south of Market Road, where the cattle were kept and where the slaughter houses were, is now sports pitches. The rest forms Caledonian Park. At the break-up of the GLC, Market Estate was transferred to the control of the London Borough of Islington.

The Market Estate seems to have been badly designed and very poorly managed and maintained, as described by the . The tragic death of 12-year old Chris Pullen due to negligent maintenance of a fire door led to a campaign for Justice for Christopher, movingly described . The Council eventually decided to rebuild the whole area. In 2005 It was transferred to a registered social landlord, Southern Housing, and the redevelopment was completed n 2012.