This land lay unused until 1954, when Mayor William Hawrelak proposed to create a 350-acre (1.4 km2) riverside park in this area as it would “fit into the overall park development of the City along the lines of the zoo, and the golf courses and other picnic areas”.

It was renamed in 1982 for Hawrelak, who died in office in 1975 while serving as mayor of Edmonton.

The lake is not used for public swimming, but it has been used for the swimming portion of events when Edmonton hosted the 2001 ITU World Triathlon Championship, and since 2014 as a stop on the annual ITU World Triathlon Series.

The design style has been described as “West Coast Modernist” and “Organic Expressionist”.

Each year approximately 50,000 people visit it to enjoy musical, dramatic, and other performances in Edmonton's pleasant summer months.

Park and ride is often available for events, supplied in part by the Edmonton Transit System.