From Halopedia, the Halo wiki
Paradise Falls was a human colony.
Not much is known about the Paradise Falls colony, other than that it was once described as a "hellhole of a world." It was once visited by then-Crewman Apprentice Preston Cole while serving on the CMA Season of Plenty. On September 22, 2489, the CMA Season of Plenty was aiding in the creation of a new city called Lazy Acres.