This stone arch bridge was constructed in 1882. It provides access across Horne Creek, (once known as Town Creek) which wends its way through the northern edge of Queenstown's commercial centre. It was erected by local stonemason James McNeil, whose work also survives in the former Lake County offices and his own cottage in Church Street, now open as a bar and small brewery. McNeil had immigrated from Scotland in his teens and worked as a stonemason in Oamaru and Alexandra before moving to Queenstown in 1882.

The bridge consists of a single arch, constructed from the local schist, topped with a stone parapet. The bridges which were first constructed in Queenstown in the early 1860s tended to be of wood and generally needed to be replaced after 20-odd years. Controversy surrounded the building of the Ballarat Street Bridge; the council argued over which should be built first, it or the bridge in Shotover Street. The design was also contentious; the local paper questioned whether the low arch would be strong enough for the traffic. During construction the building inspector complained about the size of stone being used (his report was eventually over-ridden), about the length of time it was taking to construct the bridge, and about the steep approaches to it. While the council agreed with the inspector's last comment, they decided that the contractor had complied with the plans provided to him and therefore the council should spend an extra £20 on building up the road. The bridge was mostly complete by 6 June 1882, with only the pointing and coping to do. It was not entirely finished because of the 'loss of the stonemason' who appeared to have disappeared. The whole was finally complete on 7 July 1882.

Stone arch bridges are relatively unusual in New Zealand and the Ballarat Street Bridge is unusual within that small group because it is constructed from coursed rubble schist rather than from the more common ashlar blocks of limestone. Schist was a common building material in Central Otago due to its availability and the relative lack of timber in the area. The Ballarat Street Bridge is a picturesque element of the Queenstown streetscape and a reminder of Queenstown's early days.