The Crestwood neighbourhood was developed in the early 1950s. While it was initially known as the Jasper Place and Capital Hill subdivisions, City Council allowed the local community to choose and vote on the new neighbourhood name.
Residential structures in Crestwood are almost entirely single-detached dwellings built in the 1950s and earlier. There are also a few semi-detached homes in the neighbourhood, as well as some low-rise apartment buildings. Infill has been a slow and steady process in Crestwood, and new homes have been added to replace older ones fairly continuously across the decades.
The North Saskatchewan River Valley is a prominent feature for Crestwood residents. A view of the river valley is possible on the north, east, and south sides of the neighbourhood. Because of this, Crestwood displays a very distinctive street network. It also features many community facilities, including two shopping centres, eight churches, two schools, a community league, an arena, and a curling club.
149th Street, which runs the western length of the neighbourhood, provides residents with easy access to Stony Plain Road to the north and Whitemud Drive to the south, making the community ideally situated in terms of accessibility to commercial and employment centres around Edmonton.