Located in the former inner suburb of York, the neighbourhood is a Business Improvement Area (BIA); it has an annual arts festival and a public library built in 1997.

[citation needed] North of Vaughan Road and east of Oakwood Avenue, this part of the neighbourhood has a set of one-way streets that acts as a maze for motorists.

Since the 1998 amalgamation, from Dufferin Street to Winona Drive and north of Rogers Road up to Eglinton Avenue (and beyond), it is a small part of Ward 15: Eglinton—Lawrence.

The Oakwood Village BIA, founded in 2009, is actively trying to beautify the area and attract vibrant businesses.

[9] A community garden, located at the corner of Belvidere and Oakwood Avenues, was completed with funding from Clean & Beautiful City.

Another project, a striking mosaic, is located on the south side of Belvidere Avenue, on the community garden's retaining wall.

Standing tall in this oasis is a 4.88 metres (16.0 ft) steel palm tree that represents the strong roots put down by the residents of Oakwood Village.

[11] The palm tree, which can be found throughout the world's warmer nations, is a symbol of unity—the coming together of the many diverse groups in the Oakwood–Vaughan community.

However, the tree generated local controversy, as a political hopeful stated that it cost the city $350,000 to erect.

As a curated festival revolving around the theme of village, this event features theatre, dance, music, creative writing, art exhibits, interdisciplinary works and public discussions.

In addition to Oakwood Village branch, the Maria A. Shchuka Public Library, which was re-rebuilt in 2003, is also located on the neighbourhood's periphery at Eglinton Avenue and Northcliffe Boulevard.