William Galloway was the developer of the Cedar Heights area of Cedar Falls. He purchased 250 to 300 acres of land here from Samuel Rownd between 1909-1910, and formed the Galloway Investment Company. This company eventually owned all the land bounded by Rainbow Drive, the Cedar River, Belle Avenue, and Parrish Street. Galloway's many commercial interests included a lumberyard, a manufacturing company and a seed nursery.

Cedar Heights was incorporated as a town, with Galloway as Mayor. His plats of Cedar Heights included donations of land for the present Lookout Park and the site of a school where Cedar Heights Presbyterian Church now stands. Cedar Heights became part of Cedar Falls in 1935.

Galloway' house was a twenty room mansion. It was built of red brick with a steel frame, and it contained five bedrooms (each with a sleeping porch) on the second floor. Servants quarters, a large playroom, six marble bathrooms, and oak woodwork made the house one of the area's finest when it was built in 1917. The stone pillars at Edwards and Grand marked the entrance to the estate.

The home has received extensive renovation and is a private residence.