This reserve surrounds the man-made lake constructed by the Matamata County Council in 1974/75. The name Moananui means Big Water.
The development of the lake surrounds began with the construction of car parks and tree planting. Local service clubs became involved with the construction of bridges, pagodas, picnic areas, paths, playground equipment, a paddling pool and retaining walls. The majority of these projects were undertaken using volunteer labour, with Council contributing to the cost of materials in most instances.
In recent years a walkway has been constructed around the lake and the lake itself refurbished. A Friends of the Lake local community group was established in 2015 to work alongside Council's Parks and Reserves team in managing the reserve. It's involved is with planting sessions, providing suggestions for enhancing the reserve and informing Council of any issues within the Reserve.
In 2014 a new playground was installed with modern and safe playground equipment for young children to enjoy.
In 2015 a series of exercise stations were established around the lake which were received very positively by tthe community and are used extensively.
Dogs are permitted on leash in this reserve and there is an off leash exercise area on the west side of the lake. Dogs are prohibited from the playground area and exercise stations.