The Town of Hampstead was founded in 1914. It was designed to be an exclusive garden city. There are no retail shops within municipal boundaries. Houses were assigned relatively large lots to allow space for trees and shrubbery. The town's roads were designed with curves in order to slow down traffic and to create an interesting and intimate landscape. Despite its rather flat topography—much of the territory was once a golf course—the town was named after another garden city, the London suburb of Hampstead Village. Like its namesake, Hampstead is the home of many affluent citizens, and competes with a few other suburbs for first place in the rankings of highest average household incomes in Canada.