Mr Walker said he and his new dog, Bahlu, sometimes visit the lake twice a day.
"I've developed a fondness for the complex over the years.
"We do a lot of walking here."
The fountain was modelled on a similar fountain he saw at Lake Taupo.
It is connected to the town supply.
Installing the fountain had been a community project, Mr Walker said.
"As far as I'm concerned it's a community thing.
"Sure it's got an overtone for dogs, but at the same time it's for the community as well."
The lake was heavily used, with most walkers visiting in the morning and late afternoon, Mr Walker said.
"We've tried to encourage diverse use ... we try to push everybody to be involved and try to make people as welcome as we possibly can.
"We believe it's a major attraction for Masterton."
So far people had been appreciative, although he had fielded an inquiry, he said.
"One person said 'why can't you have Tui on tap?'"