Roger Alexander said they first started working on a small wetland at their home farm before buying a neighbouring property in 1978 which housed the dried-up swamp and had plans to improve it.
"The drought of 1982-83 provided us with the right opportunity to start work on creating a wetland park.
"The lake and the trees would filter out undesirable material before it got into the Tutaekuri close by."
The project started with the removal of 100,000cu m of mud and the planting of many trees.
"As time has gone by, it has become an attraction for visitors from overseas and locally.
"Locals love the lake and the Puketapu School students use it for nature lessons and canoe polo."
The lake and established park surroundings are situated along the main road into Puketapu and are also popular with cyclists on the Hawke's Bay trail.
The area is now used by the Taradale Rotary Club for its country fair and auction each year.
Graham said the lake and park surroundings, which have been a family enterprise, would be an ensuring asset for the region.
Māori Committee chairman Mike Mohi said the lake was well-recognised for its contribution to the restoration of the environment.