Preston is a community in Cambridge, Ontario, Canada. Prior to its amalgamation with the city of Galt, the town of Hespeler and the village of Blair to form the new city in 1973, it was an independent town. It is located near the confluence of the Grand River and Speed River. Downtown Preston is commonly considered to be bounded on the north by the entrance to Riverside Park on King Street, and on the south by the King and Bishop plaza. Preston was originally formed on land belonging to the German Company Tract, along the Speed River, which was purchased earlier from the Six Nations Indians. It was John Erb who bought the 7,500 acres (30 km2) of land and settled it in 1805. He later built a sawmill in 1806 and a gristmill in 1807. This settlement became known as Cambridge Mills. The settlement grew and by 1879 there were many industries such as a foundry, carriage manufacturer, potteries and a furniture company. This was also the year that the Cherry Flour Mills started, which would later become the Dover Flour Mills, a Preston company that still operates today. Preston became the Town of Preston in 1900, and had a population of just under 11 000 by 1959.