The Town of Crestone is a Statutory Town in Saguache County, Colorado, United States. The town population was 141 at the 2020 United Stateā¦The Town of Crestone is a Statutory Town in Saguache County, Colorado, United States. The town population was 141 at the 2020 United States Census. Crestone is a small village at the foot of the western slope of the Sangre de Cristo Range, in the northern part of the San Luis Valley. Crestone was platted in 1880 by George Adams, owner of the neighboring Luis Maria Baca Grant No. 4. In the 1970s the Baca Grande, a large land development, was established on the lands of the Baca Grant to the south and west. Several hundred homes have been built there.