Yaletown has come a long way since the Canadian Pacific Railway in 1887.
Where did YALETOWN get its name?
Well, it is thought to have been named when the CPR moved its construction equipment and its repair shops from Yale, a small town of British Columbia in the Fraser Canyon, to the railway's terminus of Vancouver.
1900 to 1950 Yaletown was the commercial warehouse district of Vancouver, a real eye sore and a industrial dirty place. As a matter of fact I have heard some old timers, when I was a young boy, say that this area was so polluted that the waterfront of False Creek had no fish. Ever since the 70's and 80's, when Yaletown was light industrial and warehouses it had little activity on the waterfront. The clean up, when the city sold False Creek North, a part of the deal when the sale occurred, changed all that and finally we saw herring and other marine life returning to False Creek.
In the late 1970's and 1980's, Yaletown became the focus for a series of changes in the downtown area. Young urban professionals were attracted to Yaletown's old warehouses. The dot.com. era made this area very attractive to the YUPPIE! The City has since recognized Yaletown's architectural importance by zoning it as a historical district which allows for new uses while maintaining the special character of the area. Ironic, to say the least, a successful transformation fuelled by large numbers of Pacific Rim and Eastern European immigrants, who are accustomed to high-rise living, which to this day fuels Vancouver's downtown market and where prices of a condo today, June 21, 2008, run from an average of $550 to $1,200+ per square foot.
Yes, Yaletown has had its exposure in the New York Times, and on Good Morning America as one of the best places to live. Who lives here? Some claim it to be the beautiful people, maybe an acronym for Vancouver's who's who. Why Yaletown?
Could it be the fashionable boutiques, the high-end restaurants, microbrewries, high tech companies, high end home furnishing establishments, galleries, showrooms for BMW, or close to Vancouver's entertainment district? Miss Yuppie and her puppy walking the down the street, could that be the draw?
Yaletown the Manhattan of Vancouver!
Peter Gallos Real Estate Professional 604.767.5036 Want to be seen? Call me to show you the hippest areas of Vancouver.