The pond is located one-half kilometre (1,600 ft) northeast of Halifax Harbour at Dartmouth Cove as part of the Shubenacadie Canal system.

With an elevation several dozen metres (about 50 ft) higher than the harbour to the south, the pond was linked to the ocean by small inclined marine railway which was used to haul boats to and from Dartmouth Cove.

The area around Dartmouth Cove south of the pond became industrialized with construction of the Starr Manufacturing ice skate factory and the establishment of a shipyard.

To reestablish public access to the water, the city developed a plan to gradually recover lands adjacent to the lake by purchasing properties as they became available, which resulted in the current park area.

Today, the pond features a small island with a totem pole which was a gift to the city from the province of British Columbia for hosting the 1969 Canada Summer Games.