The first homes were built in Hoyt Lakes in 1954, as Erie Mining Company brought in employees for the new mining operation. In the Fall of 1955 the residents got together at Birch Cove on Colby Lake for a City Picnic. This became an annual event and grew bigger each year as the town grew and prospered. The Colby Lake Water Ski Club was formed and the members began to put on a spectacular show at the picnic. Soon more events were organized, rides brought in, food and beer booths added. It was officially named the “Hoyt Lakes Water Carnival."
