It is an urban barangay of Quezon City with low-density housing and is known for its shopping malls, transport hubs and office buildings.

Neighboring barangays include Project 6 and Vasra in the northeast; Bahay Toro in the north; Pinyahan in the east; Veterans Village, Bungad and Sto.

The land that is now occupied by the barangay was a cogon grassland with rice paddies, bamboo groves, and fruit-bearing trees that were said to be part of the Diliman Estate, a 1,600 ha (16 km2) property then in Caloocan owned by the Tuazon family that was sold to the Philippine government in 1938.

It was said to have originated from a speech of then-President Ramon Magsaysay, who was also responsible for the relocation program itself, as he was quoted for saying, "there is new hope" for the Philippines.

It will be further expanded in size once the five Business Process Outsourcing and hotel towers are completed, replacing the former site of the Super Sale Club.

Bagong Lipunan Pag-asa Condominiums, an Urban Bliss site and Golden Acres (Home for the Aged), projects of former First Lady Imelda Romualdez-Marcos during her husband's presidency are both located behind the SM North EDSA complex.