The first tract, consisting of 7,020 acres (28.4 km2) of land belonging to the heirs of Amasa Stone, was purchased for $31,500 on June 18, 1921.

[7] Senator Albert T. Fancher was appointed by New York Governor Nathan Lewis Miller to head a five-member team to develop a vast park that continues to grow to this day.

[4] A converted schoolhouse (near the present day Quaker Inn) served as the park's first administration building, and World War I Army surplus tents on 16-by-16-foot (4.9 by 4.9 m) wooden platforms were primarily used during the time between the park's creation until the completion of the first permanent cabins in 1925.

Adjoining the lake was the Allegany School Of Natural History, a group of 42 cabins, and a main building housing a library, several science laboratories, and an assembly room.

The CCC were also responsible for numerous conservation projects from reforestation to stream bank retention and wildlife improvements.

Through the years, the park was developed further with the addition of Quaker Lake, winterized cabins and full service cottages, hiking and snowmobile trails, picnic and recreation areas, bike and horse paths, and better roads enabling people to access the park.

During this time, two major projects along the Allegheny River, the Kinzua Dam to the south and the Southern Tier Expressway to the north, were underway, and the state of New York attempted to evict those who remained in Elko and Red House through eminent domain using those projects as a pretense; what usable land that remained would be integrated into the park or handed to the Seneca Nation of Indians as compensation.

Elko was successfully vacated and dissolved, but many of the remaining residents of Red House, among them the family of Pro Bowl fullback Marv Hubbard, managed to fight their evictions.

To this day, a small northwestern corner of Allegany State Park is notched out, with 14 houses still (mostly) privately held by 38 residents.

The state maintains a standing offer to the residents of Red House to buy out their property should it ever be abandoned.

The old dance hall was built upon the concrete barn floor of a farmer,(John Sharpe), that formerly owned the land.

The Redhouse Miniature Golf Course was later built on the same concrete floor; that facility was torn out in the late 2000s and the site is currently a vacant lot, with only the overhead lights remaining.

[8] Also a part of the history is the settlement of New Ireland (Carrollton, New York) which was formed in the mid-19th century by a small group of Irish settlers who had fled the pains of the Great Famine.

Irvine Fire Tower, however, was disassembled by the park and moved to Science Hill near the Bradford, Pennsylvania entrance.

Contained within the park off France Brook Road is a large storage pool for natural gas.

The storage pool is connected to the "K" line, which is a 16-inch (0.41 m) diameter gas pipeline that runs from Buffalo, New York to Eldred, Pennsylvania.

The pool is regulated by equipment located in a compression station situated on the access road near the Bova Ski Area and Camp Allegany.

Built in the Tudor Style during the depression era, this building has been extensively modernized, but still keeps its cozy rustic charm.

The rental office, gift shop, museum, and Park Police Station are located on the main level of the building.

Allegany State Park offers 21 hiking trails of various lengths and difficulties available for use year round.

The Black Snake Mountain trail is also unique due to its direct contact with the Pennsylvania state line.

One of the attractions on this trail is a concrete marker shows the exact line where New York and Pennsylvania meet.

Though much of the area has regrown, the path that was cut by the tornado is still visible; it was 1 of 4 to occur that day in Western New York.

When a program is conducted, park patrons are directed to meet at one of these specific places at the specified time.

The seven Fancher Cottages are located in the southern part of the Allegany State park, adjacent to Quaker Run Creek and offer guests a unique camping experience.

The fully handicapped accessible cottages sleep six, are furnished and stocked with pillows, bedding, cooking utensils, dishes and coffeemakers.

[13] Recently rebuilt Parallel cabins 1 and 2 have the same amenities as the Fancher group of cottages and are handicapped accessible.

Cain Hollow was recently renovated and all the bathhouses are new, with three automatic flush toilets and two showers in each, one of which in each is accessible to people with mobility issues.

Diehl Tent and Trailer Trail sits beside English Creek, running parallel with ASP1 just east of the Quaker Inn.

Both beaches have bathrooms near the parking lot; the 1960s-vintage restrooms near Quaker Lake were torn down after summer 2015, with a newly constructed pavilion to open in 2016.