It used to be the entirety of Arbour Lake, and the community of Hawkwood as well. As the original homesteading family's (The Hawkwoods) children grew up and moved to farms of their own, and Calgary continued to expand out toward the farm, the original farm was sold off in pieces. Hence the neighbourhood of Hawkwood having the name it does.
Then, when Arbour Lake was developed, one child of the initial Hawkwoods still lived at the original farm with his family. It was agreed that most of the land would go to the new community, but they would retain ownership of this parcel of land as their home. When the wife passed away a few years ago (the son passed away a couple of decades prior), the now adult children of them agreed it was time to part with it.
I know all of this because my great grandparents were the Hawkwoods, my grandmother being one of their children. My branch of the family is not the one that lived on this particular lot, but we are still a close family and our annual Christmas party was always held at the home here, along with numerous other gatherings such as Canada Day BBQs, etc... It is a bit bittersweet to see the original homestead disappear, but that's progress, and all acknowledged that it was unrealistic to expect it to stay forever.