The adult dentate gyrus continually produces new neurons that integrate into the hippocampal circuit. Adult-born neurons transiently exhibit distinct cellular properties that distinguish them from the larger population of mature neurons, and these properties are thought to underlie the vital role of neurogenesis in hippocampal behaviors. I will review the developmental trajectory of adult-born neuron cellular properties and present new data focused on cellular mechanisms of “critical periods” for plasticity and information processing. The results support the idea that neurogenesis provides a substrate for experience-dependent circuit plasticity and memory precision.