Rooted in Dutch traditions, Prospect Park was established in 1901. With a view of what would become the New York City skyline, Prospect Park evolved into a community that placed an emphasis on family values and character. Children would often be seen on the streets jumping rope or playing together at the Hayfields, which later became Hofstra Park. Parents worked locally in the borough and neighboring Paterson, known as "Silk City." Families stopped by Verblaauw's Hardware for household goods and bought produce and flowers at Aiello's, which remains a vibrant business today. Though the borough has undergone an exceptional cultural transformation, Prospect Park has maintained its core values through traditions, cultural practices, and religious observances, with the Prospect Park School remaining the center of community life. New Hope Ministry and the Prospect Park Volunteer Fire Department remain essential to the life of the community. Prospect Park showcases the rich cultural, educational, and economic heritage of this northern New Jersey town.