As of August 2020, Redwood Meadows is the only townsite recognised by Alberta Municipal Affairs. It is unique in that it operates like an incorporated Alberta town despite being a largely independent townsite. It differs from all other communities in Alberta because the land is leased and is located within the Tsuut'ina 145 Indian reservation. A Stewardship Agreement between the Town Council and the Tsuut'ina Nation governs the administration of Town Council.

The site upon which Redwood Meadows is built was leased to Sarcee Developments Ltd. (SDL), a fully owned Tsuu T'ina corporation, in the early 1970s. The Head Lease began in 1974 with a 75-year initial term and was scheduled to end in 2049. A new lease was signed on April 21, 2021 and it will now expire in 2095.

The Redwood Meadows Townsite is situated along Highway 22 about 20 kilometres west of Calgary, 18 kilometres south of Cochrane, and 5 kilometres northeast of Bragg Creek. It is around 400 acres and is at an elevation of 1,250 metres (4,100 feet).