Prospect is located in Halifax County, along the southern shores of Nova Scotia's Chebucto Peninsula. Mi'kmaq, using the land as a seasonal camp, named the area Nospadakun.  By 1754, the settlement would be discovered by English and Irish settlers, who dubbed the area Prospect, and stayed because it was a promising fishing location.  The first of many constructed churches in Prospect was the Our Lady of Mount Carmel Catholic Church, in 1794. Today, Prospect is mostly a lobster fishing community. Prospect is merely 31.5 km (19.6 mi.) southwest of Halifax.

Prospect features numerous enticing activities, such as spending the day at a sandy beach, swimming in the ocean and soaking up the sun amid beautiful scenery. As well, go horseback riding, golfing, biking, hiking down beautiful trails, or play tennis, bird-watch, go on tour to see the whales and cross-country skiing in winter months. The SS Atlantic Heritage Park is a quiet, pretty park that pays tribute to those who lost their lives in the horrific 1873 sinking of the SS Atlantic.

Prospect accommodations include oceanfront bed and breakfasts.