The yard was built in 1914-1915 by the Southern Railway at a cost of $660,000. It was named after William Wilson Finley, the railroad's second president, who had died in 1913. The shops at Finley Yard were used to construct a replica of the 1830 "Best Friend of Charleston" locomotive engine in 1928. The yard was dismantled in 1952 as Southern moved its operations to the Norris Yard in Irondale and sold the property to the American Cast Iron Pipe Company and the Alabama Farmers Market.
About 20 structures remained on the part of the site used by ACIPCO. The Shaw Warehouse Company purchased the Roundhouse and used it for warehouse storage. The 1920 backshop was purchased by Feralloy and later sold to Mill Steel. The former Interlocking Tower still stands on Center Street, south of the roundhouse.