The Ollerenshaw Ranch legacy began with the immigration of Joe Ollerenshaw to Canada in 1911 from England. In 1923 Joe and his wife Florence settled onto Section 33 and began the original, self-sufficient farmstead, producing and processing their own meat, dairy, produce, and grains. Joe became well known as a skilled farmer and rancher, using excellent materials and methods. However, he became better known for his prize-winning Percheron horses, which he began raising and showing in 1926. "Kankarness", a Percheron mare shown by Joe, won Grand Champion forty-nine times, holding the world's record.

In the 1940's, Joe's son, Fred, purchased three quarter sections near the original farmstead and in 1958 he expanded his ranch and farming operations by purchasing Section 23, the current location of the Ollerenshaw Ranch. Fred was known for experimentation with new farming techniques, with his greatest contribution to agriculture being the design and construction of a large grain handling facility that could dry and move grain from truck to bin without ever utilizing a shovel. This facility became recognized internationally for its innovation and incorporation of modern technology.

The Ollerenshaws were known for their innovation, experimentation, self-sufficiency, social participation and involvement in the agricultural community of Alberta. That legacy has continued most recently with Fred's son, Robert, and his leadership on the design of Hopewell Residential Communities' Mahogany development in SE Calgary. A portion of this community will be built on the lands historically ranched and farmed by the Ollerenshaw family, with the approved Mahogany Community Plan outlining the retention and incorporation of the existing Ollerenshaw Ranch into the community in recognition of its heritage status and social importance.