[4][5] What is known today as Tuxedo began when the land was purchased by a group of businessmen between 1903 and 1910 in order to establish a planned "exclusive residential-only suburban enclave" [4][5] Between 1903 and 1905, the Tuxedo Park Company Limited, directed by Winnipeg-based real estate agent Frederick W. Heubach[6] on behalf of American investors Frederick E. Kenaston,[7] E. C. Warner, and Walter D. Douglas, began to purchase land in this area for a residential development.

The company acquired farmland owned by Mary and Archibald Wright which, along with several smaller land purchases, brought the total area to about 1,200 hectares (3,000 acres).

To transform the native scrub vegetation to what Heubach envisioned as a “Suburb Beautiful,” he hired architect and engineer Rickson A. Outhet of New York City to create an appropriate plan.

[15] In the mid-1950s, a project to extend Grant Avenue through Tuxedo and onto Charleswood terminating at Roblin Boulevard would lead to the bisection of Heubach Park.

[15] The Town changed its position by 1960, making way for the $50-million project, including an additional 1,600 homes and the westward extension of Grant Avenue over a 10-year period.

[17] The initial portion of the new subdivision would be located west of Heubach Park between Corydon Avenue and Mountbatten Road.

[4] A monument celebrating the incorporation of the Town was installed in Heubach Park in July 1970, dedicated by the Metropolitan Corporation of Greater Winnipeg.

[20] In the early 1990s, Larry Fleisher, who then represented Tuxedo at Winnipeg City Council, requested that $250,000 be spent on making Heubach Park nicer, and that the project commence by 1993.

[24] The Asper Jewish Community Campus now hosts the Berney Theatre, the Rady Center, the Gray Academy as well as a number of other philanthropic and educational organizations on that site.

[27] According to the 2016 Census, the neighbourhood is 85.4% Anglophone and majority white, with the largest non-white ethnic groups being Indigenous or Metis (10.4%) and Filipino (6.6%).

This is bordered by Coryon Boulevard to the north, route 90 to the east, Grant Avenue to the south and the Assiniboine Park to the West.

International real estate developer, financier and former Lord Mayor of London, England, Sir Denys Lowson (via South Winnipeg Development Co. Ltd.),[36] announced in March 1963[37] that Bird Construction was chosen as the company to build the Tuxedo Park Shopping Centre (2025 Corydon Avenue) designed by Smith Carter architects[38] and opened on 30 October 1963.

[39] Other initial retailers were MacIver Nanton Toys, Height Hairstylists, and Tuxedo Book & Record Shop.

A Bank of Montreal branch, Safeway supermarket, and Shell gas station continue to operate today.

Privately-owned and run and situated south of Assiniboine Park, the Tuxedo Golf Course was constructed between 1932 and 1933[40] and officially opened in May 1934.