On February 25, 1901, citizens petitioned the City Council to establish a park on King William Street. The request was referred to a Council committee, and on June 3, 1901, the Council approved the request and recommended purchase of the triangular lot bounded by King William, Turner and Washington Streets. This .7 acre tract was acquired on July 6, 1901, from Mrs. P.H. (Phoebe) Groesbeck for $4,208.50. The City Council officially designated the new park "King William Place" and directed the City Engineer to record that name on official maps.

Within several months, the Council approved expenditures to curb the area and lay water pipes in the park. Landscaping probably followed this action, though details are not known. In 1917, King William Park-- the designation "Place" evidently was never commonly used-- was listed in a San Antonio Express article entitled "Twenty-two Beauty Spots and Plazas." Period photographs indicate that the park was sparsely landscaped around 1920, and that trees were planted around the perimeter at a later time.

The gazebo in the park was formerly located on the grounds of the United States Arsenal near the Commander’s House. When it was no longer wanted at the Arsenal, the gazebo was moved to the park in 1954 by the King William Area Conservation Association. The gazebo was restored and rededicated in 1987.