The community is located on the western edge of Clementsport and immediately east of Deep Brook. It was formerly named Cornwallis after a military base was established as HMCS Cornwallis in 1942 and becoming CFB Cornwallis in 1968 (it was mothballed from 1946-49). After CFB Cornwallis closed in 1994 the property was converted to civilian use. A local development authority used the name Cornwallis Park and this name was formally adopted for the community in 2000.
Cornwallis Park was home to the Pearson Peacekeeping Centre's main administrative office, located in the former base commanders resedince. A significant portion of the former military base's facilities (particularly housing, hospitality, meeting rooms and assembly halls) have been taken over by the Annapolis Basin Conference Centre. Cornwallis Park hosts over 1000 Royal Canadian Sea Cadets annually for training through CSTC HMCS Acadia. Many of the personnel married quarters (PMQs) have been sold for private residences.
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