Lost Creek Dam is listed on the Historic American Engineering Record (HAER No CA-367) for its significance as an early concrete arch. The design engineer, Lars Jorgensen, was born in Denmark in 1876 and immigrated to the United States at the turn of the twentieth century. After working for a number of firms where he assisted with hydroelectric developments, he formed the San Francisco based Constant Angle Arch Dam Company in 1914, and patented the concept of the constant angle arch dam. At the time of its construction in 1924, Lost Creek Dam was one of the few variable-radius arch dams in the United States. The dam underwent a significant seismic retrofit, completed in 2018, that reinforced the downstream face and replaced the wooden bridge with a concrete deck.

There are no developed recreational facilities at Lost Creek Reservoir. There is an informal boat launch and parking area to the south of the dam.

SFWPA General Policy #111:

Lost Creek (no restrictions) - Camping, boating, fishing, and swimming allowed (campground undeveloped).