It is developed on an island on the Bow River, immediately north of downtown Calgary.

It was named after Peter Anthony Prince, the founder of the Eau Claire Lumber Mill.

It is part of the pathway and hiking trail system lining both sides of the Bow River.

The southern arm of the river has been landscaped, while the eastern end of the island re-creates a wetland environment.

Canada geese and mallard ducks are common birds found in the park.