Designed by engineer Francesco Tuti, the building was inaugurated on February 15, 1889. It is dedicated to Girolamo Magi, a native of Anghiari and illustrious military engineer who served under the Venetian Republic in the sixteenth century. The gallery represents a fine example of minor architecture and evinces building techniques ahead of its time.
The loggias are roughly contemporaneous with the larger galleries in Milan, Genoa and Naples. For years, they were the site of a covered market which sold seeds and grain; but thanks to a road built during the first decades of the twentieth century, the market square became easier to reach and thus the gallery lost its original function. It was last renovated in 1993.