The Shand Dam opened for business on August 7, 1942, creating Belwood Lake from the waters of the Grand River near Fergus, Ontario. Originally named the Grand Valley Dam, this is the first large-scale multi-purpose dam in Canada. The cost to build the structure was $2 million.
Belwood Lake is 12 kilometres long and has a maximum width of two kilometres. The Belwood Lake Conservation Area is a popular boat launch. The Elora Cataract Trailway runs through the park and over the Shand Dam. This is a 47 kilometre rail trail that last saw a train some 50+ years ago. The tracks were removed in 1993.