Woodway Park has two sections and has been renamed. The park closest to Lake Waco (formerly known as Woodway Park 2) is now Lakeside Park. This park has a very nice restroom at the entrance with several parking spots and picnic tables. You can begin a circular hike from this starting point. The picnic area is a good spot as it often has numerous birds in the Ashe Juniper/Mixed hardwood trees. A trail leads down to the Lake Waco shoreline, where you can use binoculars or scopes to scan the far shoreline for Egrets, American White Pelicans, Gulls, Terns and Bald Eagles. The Twin Bridges are also visible from the shore. The trail picks up again at the treeline opposite the trail exit. This small trail winds along the small bluff above the lake and boasts thickets where kinglets, wrens, and sparrows shelter, a view of the lake’s shoreline where egrets and herons hunt; and winding trails through wooded areas rife with titmouse, woodpeckers, jays, owls and other seasonal visitors such as redstarts, vireos, cedar waxwings, kinglets & many other possible vagrant species. Stay on the yellow trail, and you will circle back to your starting point. I do suggest taking a side trail to the edge of a stream that runs through this section. It is a small hotspot within the larger hotspot. 
You can choose to take other trails which connect Lakeside Park and Woodway Park for a longer hike and more opportunities for birding. 

The best spot in Woodway Park is to drive all the way to the end. Depending on the level of the lake, it might be possible to walk along the shore there.

**Be very cognizant of poison ivy during the spring and into fall. 

Chickadees, Vireos (white-eyed most common); Carolina, Bewicks, House, and Winter Wrens, Blue Jays, American Crows, Red Tailed and Red Shouldered Hawks, Great Horned Owls.
FROM THE SHORELINE: Bald Eagle (infrequent), Great Egret,  Great Blue Heron, Green Heron, Little Blue Heron, American White Pelican. 

From the City Of Woodway:  Lakeside Park (formerly known as Woodway Park 2) is located at 2025 Estates Drive which is at the end of Estates Drive near Lake Waco. Lakeside Park is open daily between 5am – 10:30pm. No entrance fees  https://discoverwoodway.com/parks/

Amenities: pavilion (lighted with four tables), 18-hole disc golf course with view of the lake, playground equipment, hike & bike trails. 

Woodway Activity Park (formerly Woodway Park 2), Waco Beach, and the Carleen Bright Arboretum are nearby. 

Lake Waco is a man-made reservoir located on the west side of Waco, in McLennan County, Texas. It provides water to several cities in the Waco Metropolitan Statistical Area, including Waco (pop. 135,858), Bellmead (pop. 9,901), Hewitt (pop. 13,368), Robinson (pop. 10,509), Woodway (pop. 8,452) and others in the Cross Timbers and Prairies ecoregion of Texas. Lake Waco was formed by a dam built on the Bosque River basin. The lake has 79,000 acre-feet (97,000,000 m3) of water and is managed by the U.S. Army Corps of Engineers.

Yellow Trail(Lakeside Park), which connects to the Red Trail (Woodway Activity Park). Red Trail connects to Blue and Green Trail.