In 1888, the area now known as "Falcon" was crossed by the railroads: first the
Denver and New Orleans on a rail bed parallel to today's Eastonville Road in 1882, then the
Chicago and Rock Island on a rail bed parallel to today's
U.S. Highway 24 during 1888. The lines' intersection remains an important center of the Falcon area today. On September 20, 1888, the first announcement of "Falcon, Colorado" was advertised in the
Colorado Springs Gazette. The Falcon Land and Town Company, associated with the Chicago Rock Island Railroad, were selling lots to individuals. The Falcon, Colorado, post office operated from October 10, 1888, until September 14, 1942. The
Peyton, Colorado, post office (
ZIP code 80831) now serves Falcon postal addresses. The introduction of the automobile brought a decline in passenger rail traffic to Falcon. A 1935 flood washed out the
Colorado & Southern tracks, which weren't rebuilt, and the Rock Island railroad junction closed. and the area's population nearly doubled between 1990 and 2000. With the rapid growth, suburban amenities began appearing in Falcon.
Safeway opened a grocery store in 2000.
El Paso County approved a new
Wal-Mart store in 2005 with minimal opposition. As that new retail presence was preparing to open, residents voted in May 2007 on whether to
incorporate as a town. The proposal was defeated, with 78% of the vote against incorporation. The next major retail chain slated to set up shop in Falcon was
Lowe's, which had agreed to procure the current site of Fire Station #1 of the Falcon Fire Protection District. Lowe's would have built a replacement station near Golden Sage Rd. and Woodmen Rd., but in September 2008 that deal fell through, and Lowe's did not complete the transaction. ==Geography==