Hespeler is a neighbourhood and former town within Cambridge, Ontario, located along the Speed River. In 1830, Joseph Oberholtzer purchased land along the Speed River. The settlement that followed was to become known as New Hope. In 1845, Jacob Hespeler arrived in New Hope. Hespeler purchased land along the river and built several industrial mills. Hespeler brought strength to the village, with was aided by Great Western Railway stopping in the settlement between Galt and Guelph. In 1857, Hespeler called for a Census to find out if the number of residents in the settlement would be enough to name it a village. The Census took place in July, 1858, and the settlement became the Village of Hespeler on January 1, 1859. The village continued to grow until it was incorporated as the Town of Hespeler in 1901.