In 1746, Col. Jose de Escandon was commissioned by the Viceroy of New Spain to lead the colonization of this area. The first settlers arrived 3 years later and were assigned land on which to build their homes. A survey conducted in 1767 resulted in the allocation of individual land grants to the settlers, which marked the start of private property ownership in the area.
About 1800, Jose Eugenio Ramirez established a ranch on the north bank of the Rio Grande and named his headquarters Ramireno. The settlement that grew up around his home was plagued throughout the 19th century with Indian raids, particularly when military protection was withdrawn during the years of the Mexican Revolution (1810-1821).
In the early 1900s, Ildefonso Ramirez opened a general store, and, when a post office was established in 1915, the name of the village was changed to Falcon in honor of Jose Eugenio's wife, Maria Rita de la Garza Falcon. After Falcon Dam was completed in 1952, the town was flooded, and residents were forced to relocate to this site. The history of Old Falcon, however, with its ties to 18th-century Spanish colonialism, remains an important part of their heritage. (1983)