Considered the birthplace of Greenville, the park was founded in 1967 when the Carolina Foothills Garden Club reclaimed 26 acres (110,000 m2) of land that had been previously used by textile mills.

Renovation accelerated in the late 1990s under Mayor Knox H. White,[1] prompting the formation of the Falls Park Endowment, a private charity supporting ongoing development.

The park's most striking feature is a unique pedestrian bridge that curves around a waterfall on the Reedy River.

The park also features a collection of public gardens and a wall from the original 1776 grist mill built on the site.

[5] As of 2023, plans to demolish the building and once again relocate the county offices have been put into motion.