Schenectady's Wall Street has its origin from around the time that the "third stockade" was constructed in Schenectady around 1776. The street ran along the inside of the eastern wall of the stockade, connecting Front Street and State Street. In the street's early years, the entire stretch of street was called Wall Street. After Union College established its building on the street, the section between Union Street and Green Street became known as College Street. The part of the street north of Union Street was briefly named Elbow Street before becoming a part of College Street as well.
In 1825, the construction of the Erie Canal cut Wall Street down even further. The section of Wall Street west of the canal also became a part of College Street, and Wall Street was reduced to a single block, running between State Street and Liberty Street. Although the street was small, its proximity to the railroad tracks and the Erie Canal made it a bustling little street. Businesses along that section of the canal set their storefronts on Wall Street and drew merchandise from barges on the canal side. The early 1840s saw the construction of a railroad station and the Givens Hotel there.
Although it was busy, its proximity to the railroad and canal did not make it a pretty place to do business. Historian Larry Hart wrote that by the late 1870s, "the east side of Wall Street was not too pleasant a sight. Clustered near the grade level crossing at State Street were a shabby little restaurant and saloon, weatherbeaten sheds and wood fences, grimy with wood soot." Wall Street blossomed in the 1880s. The a new railroad depot opened there in 1882; the Givens Hotel was demolished and the Edison Hotel was erected in its place in 1889. A right-of-way along the railroad tracks north of Liberty Street was tacked on to the end of Wall Street to accommodate the Central Arcade, a complex of 20 shops and offices.
However, changes in the community changed the fate of Wall Street. The elevation of the city's railroad tracks in 1905 affected Wall Street profoundly, as it went from being a bustling street to a side street. Wall Street suffered another blow as Erie Boulevard replaced the Erie Canal in 1925. Businesses which had formerly had their storefronts on Wall Street now changed to face Erie Boulevard. In the early 1970s, the buildings which once ran along Wall Street were demolished to make room for additional downtown parking. Today, the street no longer exists.