Saskatoon was awarded the 1971 Canada Winter Games and land was acquired along the reservoir to build a man-made mountain, Mount Blackstrap, for the downhill events.

Development of the roadways, cabins, housing, and camping would impart more financial aid to the park, which would be addressed by the communities.

[5] In 2013, the provincial government announced that two private companies would spend $2.6 million on a new marina and cabins in the park.

[6] In 2016, the provincial government invested $2.9 million in expanding the amenities at the park, including the addition of 63 new campsites.

It is named after a conservation officer, Kevin Misfeldt, who had his career cut short by a fatal accident on 24 January 1997.

On that date, he and two others, wildlife biologist Wolly Kost and pilot Brett Thomas, died in a plane crash near Manitou Sand Hills, near Lloydminster.

[10] The provincial park and the lake are set in the Blackstrap Coulee,[11] which is a long valley with steep sides.

[16] The hill was built in 1970 by the Canadian government for the 1971 Canada Winter Games at a height of 2,045 feet above sea level.

The theme for the Saskatoon bid for the 1971 Canada Games was "Going to build a mountain" in honour of the construction of the hill.

[19] A month later, the provincial government announced that the remaining ski equipment at the hill would be dismantled and sold.

One developer, British Columbia's Torey Spink, withdrew his proposal over financial concerns, while the other two submissions did not include redevelopment of the ski hill.

Fish species in Blackstrap Lake include walleye, yellow perch, northern pike, burbot, white sucker, and whitefish.