The Townsend quarry was sold to Torontonian Jack Murray in 1898 for $3,000, then later to Francis and William Rogers in 1909. William Norrie, who purchased the quarry in 1929, was the final owner, naming his operations Credit Valley Quarries. Product from the area is known as Credit Valley stone.

Credit Valley stone was used in the construction of a number of notable projects in Toronto, including old City Hall, the Parliament Building, the Union Station pillars, and the Timothy Eaton Memorial Church