Babson Reservoir was named after Roger Babson who was the founder of Babson College. Roger Babson was a philanthropist who mapped out the cellars of Dogtown and made it into a natural theme park by hiring out of work stonecutters to carve mottoes onto the boulders close to the cellars.
The Babson family gave the Babson Reservoir to the City of Gloucester in return for keeping it a natural park. Even though the reservoir was gifted to be a park the Dogtown Advisory Committee continues to battle to keep it a natural resource.
There have been many attempts to use the reservoir for other activities from suggesting that a nuclear plant be built there in 1958 to paving and expanding Old Rockport Road in 2012.