The hamlet of Elmont in the town of Hampstead is proud of its diverse population and the well-defined zones that separate tree-lined residential neighborhoods and commercial or light-industrial development. A variety of retail shops and services ensure a convenient lifestyle while adding to the tax base of the community. Elmont is most famous as the home of the Belmont Park Race Track, the world's largest thoroughbred racecourse and the site of the Belmont Stakes. However, the similarity between the name of the town and the racetrack are coincidental. In fact, residents decided to change the name from Foster's Meadow to Elmont a full 20 years before the track even opened in 1905. The event was pivotal in placing Elmont on the fast track of transformation from an agricultural area into a suburban community, and many of the first waves of homes were sold to racetrack employees.