The falls and the river were named after John Steavenson (Assistant Commissioner of Roads and Bridges), who first visited the site of what is now Marysville in 1862.

A turbine driven by water drawn from the weir at the base of the falls generates power for the floodlights and the lights along the paths.

Elsewhere the forest contains a mixture of eucalyptus species, notably Mountain Grey Gum, Messmate and Narrow-leafed Peppermint.

The sheltered river margins support Soft and Rough Tree-ferns, their height bearing testimony to their considerable age.

After the fire major works were undertaken to restore the road and visitor facilities and to remove dead trees because of the danger they presented.