Prospect, like Anchorage, is one of the premiere neighborhoods in the city of Louisville. Located on the city's east side near Highway 42. Prospect is largely made up of established neighborhoods. Many dating back to the turn of the century when Prospect was considered out in the country.

Because of the Prospect, new developments are highly sought after. Wolf Pen Woods is one of these new subdivisions that started building in the early 1990s.
There are several new developments currently underway in the heart of Prospect.
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