Development of the neighborhood began during the 1970s when less than a third of the residences were constructed. The pace of development increased during the 1980s when most of Oleskiw’s residences were constructed. The remainder was built during the 1990s. By 2000, residential construction in the neighborhood was substantially complete. The single family dwelling is the most popular residence type in Oleskiw. Row houses are a minority within the neighborhood. A substantial number of the residences are owner occupied, with a minority being rented.
The North Saskatchewan River valley bounds the neighborhood to the east and south, on the north and north east by Wolf Willow Ravine, and on the west by 170 Street. The neighborhoods of Callingwood North, Callingwood South, Gariepy and WestRidge are the neighboring communities. Wanyandi Road is the main thoroughfare through the neighborhood. Whilst no schools are located within the neighborhood, several are located in the surrounding ones.
In Callingwood, Callingwood Elementary School, Archbishop Oscar Romero High School, Our Lady of the Prairies Catholic Elementary Schools, Talmud Torah Elementary Junior High School and the Sylvan Learning Centre West and in Gariepy, the Centennial School. Whitemud Drive, with access located a short distance north of Oleskiw, provides good access to destinations on the south side including: the University of Alberta, Whyte Avenue, Southgate Centre, and Fort Edmonton Park. One of North America’s largest malls; the West Edmonton Mall is located within driving distance to the north of the neighborhood along 170 Street. Edmonton's Beth Israel Synagogue is located in the neighborhood.