The Town of Halfmoon was one of four original towns created when Saratoga County was first established in 1791. Although situated between the Mohawk and Hudson Rivers, the area was slow to develop until the opening of the Erie Canal in 1825. A massive cut stone aqueduct completed in 1823 carried the Erie Canal to the north bank of the Mohawk River near the Great Bend. Here, by the 1840s, the hamlet of Crescent had developed into a center of regional commerce and transportation. Crescent became an important canal shipping point for ice, grain, hay, bricks and molders' sand produced in southern Saratoga County. Crescent shops and stores catered to supplying the needs of "canawlers." Much of Crescent's property was attributable to the investment and entrepreneurship of Alfred Noxon. During the 1840s, Noxon established an iron works, paint shop, hotel and a commercial block at Crescent, employing between 75 and 100 men in his various enterprises. He also engaged in local real estate development, erecting several residences that he subsequently sold or rented. About 1842 Alfred Noxon erected an imposing brick and stone building in which he established the Farmers Bank of Saratoga County. The substantial design included a built-in brick and iron vault and reinforced brick walls. The Noxon Bank Building was an unusual combination of a commercial space side-by-side with a residence.