William Stephens was born on 7 November 1857 at South Brisbane, the eldest son of Thomas Blacket Stephens and his wife Ann (née Connah),[1] and raised at the family home of Cumbooquepa on Vulture Street, South Brisbane.

From 20 acres (8.1 ha) of land transferred to Stephens by his father in 1886, Stephens built the family residence of Waldheim, off Ipswich Road, Annerley (now 35 Waldheim Street), about 1900 at the cost of €300;[8] 'Waldheim' being a German word for 'home in the forest'.

[4] In 1887 he was elected president of the Metropolitan Traffic Board, and also became an alderman of the south ward, Brisbane.

His funeral left his home Waldheim on Friday 1 May 1925 for his burial at South Brisbane Cemetery.

[12][2] Stephens also donated a block of land 'to be held in perpetuity for the scout movement' at 63 Waldheim Street, almost opposite the Junction Park State School, upon which was erected a 40 by 32 feet (12.2 m × 9.8 m) two-storey building costing £331, which was opened on Saturday 7 December 1929.