It sits on the original Joseph E. Schneider homestead; the municipal government had purchased some acres from the family in 1895 and drained the swamp on the land.

It was moved to the park entrance and complemented with a fountain and a sculpture of luggage, by local artist Ernest Daetwyler, symbolizing the various waves of immigration that have contributed the city's history.

[3] In 1897 a large bronze bust of Kaiser Wilhelm I, made by Reinhold Begas and shipped from Germany, was installed at in the park to honour the region's prominent German-Canadian population.

[8] The bust was recovered from the lake and moved to the nearby Concordia club, but it was stolen again February 15, 1916, marched through the streets by a mob, made up largely of soldiers from the 118th Battalion, and has never been seen again.

While the overall area of the lake was slightly reduced, the waterway near the mouth of Schneider's creek at the north end of the park was widened to create a "fore bay" which slows the flow of water and allows sediment to settle in one place for easy removal.

[13] The city announced in late 2019 that its budget includes $3 million for Victoria Park, to be used over 2021–2023 to achieve the results discussed in the master plan.