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    Main Content

    Prospect Lake in Colorado Springs: A Local’s Guide from Beaton Brothers Property Experts

    Publish Date: October 4, 2025

    Prospect Lake is a lifestyle anchor inside Memorial Park and a favorite for families, runners, paddlers, and anglers. This guide is written by your local team at Beaton Brothers Property Experts to help buyers, sellers, and neighbors make the most of it.
    Prospect Lake Colorado Springs guide with Beaton Brothers Property Experts and hot air balloons at Labor Day Lift Off
    When people picture Colorado Springs, they think of mountain views, Pikes Peak on the horizon, and trails winding through red rocks. There is another gem in the heart of the city that blends water, recreation, and community. Prospect Lake sits inside Memorial Park and gives locals a place to swim, paddle, fish, and gather for major events.As local Realtors with Beaton Brothers Property Experts, we see Prospect Lake as more than a pretty place. It is a year round hub that shapes neighborhood value, outdoor living, and how families spend their weekends. Whether you plan to relocate, buy your first home, or sell near downtown, this guide shows what makes Prospect Lake special.

    A Brief History of Prospect Lake

    Prospect Lake began as a reservoir serving a growing Colorado Springs. Over time the city developed it into a public recreation area and then a full centerpiece of Memorial Park. Generations of residents learned to swim here, lined the docks with fishing poles, and watched summer festivals from the shoreline. The lake’s long relationship with the community explains why it remains one of our most loved urban spaces.

    Location and Accessibility

    Address: 1605 E. Pikes Peak Avenue, Colorado Springs, CO 80910

    • Driving: Access via Union Boulevard or Pikes Peak Avenue. Lots are around Memorial Park. Arrive early on event days.
    • Transit: Mountain Metro Transit has stops near the park.
    • Cycling and walking: Many locals bike or jog in and connect through the Shooks Run corridor.

    Things To Do at Prospect Lake

    Swimming and Water Play

    The roped swim beach opens on Tuesdays, Thursdays, and Saturdays during the warm season. There is no lifeguard on duty. Check city notices for schedule changes and advisories. Water shoes and shade are helpful for families.

    Paddleboarding and Kayaking

    Flat water mornings are ideal for paddleboards and kayaks. Seasonal rentals are typically available near the Beach House. Launch early for calm conditions and mountain reflections.

    Boating

    Both motorized and non motorized craft are allowed in season. A city permit is required. Please follow all posted rules and closures related to maintenance or water quality.

    Fishing

    Anglers target rainbow trout, largemouth bass, bluegill, and catfish from shore, docks, and small boats. Review the latest Colorado Parks and Wildlife regulations before you cast.

    Trails and Fitness

    A paved loop circles the lake and connects to Memorial Park paths. It is popular for daily runs, stroller walks, and evening rides.

    Signature Events at Prospect Lake

    Labor Day Lift Off

    Every Labor Day weekend, dozens of hot air balloons launch at sunrise, then return for evening glows over the water. The 2025 festival runs August 30 to September 1 with a drone show and daily balloon activities around the lakefront.

    Fourth of July at Memorial Park

    Families gather for fireworks, music, and food trucks. The broad lawns and water views create a classic holiday setting.

    Triathlons and Fitness Races

    The lake often hosts the swim leg for local triathlons. Athletes transition to bikes and running loops across Memorial Park, which shows how the space works for both fun and competition.

    Water Quality and Recent Improvements

    Hot summers have brought harmful algae in past years. The City invested in a new aeration system that circulates the lake roughly every two days. The project began in late 2024 and wrapped up in spring 2025. Increased oxygen supports fish health and reduces algae friendly conditions. Temporary watercraft closures were required during installation, but the long term result is better water quality and more reliable access for swimmers and boaters.

    Trip tip: Always check the City’s current advisories before you swim or launch. Conditions can change during late summer heat waves.

    Neighborhoods Near Prospect Lake

    • Downtown Colorado Springs: Historic homes, condos, and townhomes with walkable access to dining and arts.
    • Knob Hill: Eclectic housing choices east of downtown with quick lake access.
    • Patty Jewett: Tree lined streets and a classic golf course with strong neighborhood identity.
    • Shooks Run Corridor: Trail connections into Memorial Park for buyers who value green space and convenience.

    At Beaton Brothers Property Experts, we help clients compare these areas by price point, housing stock, and lifestyle fit. Proximity to Prospect Lake can be a meaningful factor in both daily routines and long term value.

    Why Prospect Lake Matters for Buyers and Sellers

    For buyers: Lake access adds a lifestyle layer. It supports weekend paddles, weeknight runs, and community events that bring neighbors together.

    For sellers: Marketing walkability to Memorial Park or lake views can boost interest from relocation buyers who search for lifestyle features, not only square footage.

    Plan Your Visit

    • Address: 1605 E. Pikes Peak Ave, Colorado Springs, CO 80910
    • Hours: Park open year round. Water activities are seasonal.
    • Best times: Sunrise for calm water and crisp mountain views. Evenings for cooler temps and sunsets.
    • Parking: Multiple lots around Memorial Park. Expect crowds on festival days.
    • Safety: Obey posted closures related to aeration work or algae advisories.

    Prospect Lake FAQ

    Can you swim at Prospect Lake

    Yes. The designated swim beach is open on Tuesdays, Thursdays, and Saturdays during the warm season. There is no lifeguard on duty.

    Are paddleboards available

    Yes. Seasonal rentals are typically available near the Beach House. Launch early for calm water.

    What events take place at the lake

    Labor Day Lift Off, Fourth of July festivities, and triathlons are the most visible. Check the city and event websites for dates and schedules.

    Which neighborhoods are close

    Downtown, Knob Hill, Patty Jewett, and the Shooks Run corridor all offer quick access to Memorial Park and the lake.

    Thinking About a Home Near Prospect Lake

    Beaton Brothers Property Experts helps buyers and sellers match lifestyle and location. If a morning paddle or a quick run around the lake sounds like your routine, let us show you the neighborhoods that fit your goals.

    Whether you’re planning to buy, sell, invest, or relocate to the area, our team is here to guide you every step of the way. If you or someone you know is ready to take the next step, we’d be honored to earn your trust.

    For questions about the Colorado Springs real estate market — or to work directly with the top-rated Colorado Springs Realtors — connect with:

    Beaton Brothers Property Experts
    Your Local Real Estate Team | Powered by Real Broke

    Beaton Brothers Property Experts logo — Colorado Springs real estate

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