The building with which this study is concerned occupies the eastern half of Region ii, 2, just inside the city gate at Ostia. Two specific statements have been made concerning it, that it commenced as magazzini or horrea in the republican era, and that it was converted into baths in the late third century A.D.; these were the suggestions of the excavators, and have never yet been questioned. They are points of considerable importance, because this building would thus be the only example of republican horrea yet discovered in Ostia, and the conversion of horrea into baths or shops, which the theory implies, would be important for the economic history of Ostia, whether the reason for the change was the concentration of horrea elsewhere or merely the decline of the city. The second statement, too, would point to building activity in Ostia at a time when no other big building was being put up. This paper is an attempt to prove that at no time was the building used as horrea, and that the conversion to baths is to be placed not in the third, but in the late first, or very early second century A.D. Five main periods will be distinguished, of which the appended table gives a summary.