Condos in Yaletown an Intelligent Investment
Yaletown is a trend-setting neighborhood in the heart of Vancouver where the professionals come to work and play; reminiscent of New York’s Soho district. In the early 20th century, Yaletown was Vancouver’s original warehouse district. This is evident today in the historic warehouses that line the streets along Hamilton and Mainland Street, which still hold their old-world charm with exposed bricks and beams. Along Homer Street you will also find many sought after condominium buildings. Yaletown “proper” only consists of a few city streets: Mainland, Hamilton and Helmcken. Recently, the demographic has been changed to incorporate all of False Creek North from Burrard to Cambie.
Yaletown received it’s name in the 19th century when the Canadian Pacific Railroad moved its rail yards and repair facilities from Yale, in the Fraser River canyon, to the new Yaletown in Vancouver and since then the name stuck. Canadian Pacific built a roundhouse in the area to turn trains as they came in to the wearhouse district. This is still in use today as the Roundhouse Community Centre, at the corner of Pacific and Drake. It features the most famous train in Canada, the Centennial Steam train, otherwise known as the Royal Hudson, which is an important part of our Canadian history. This was the first train to cross Canada upon completion of the railroad.
The neighbourhood is home to a variety of successful business including fashionable boutiques, pet outfitters, property management companies, architectural firms, art galleries, hair studios, and designer furniture stores. Yaletown is also world renowned for its variety of gourmet restaurants, including Glowbal Grill, Goldfish, Blue Water Cafe, Cactus Club, Yaletown Brewing Company, Rodneys Oyster Bar, and many others.
Yaletown is known today as one of the most trendy and desirable locations in all of North America. It is the most sought after location for professionals to work, live and play. Condominium suites in Yaletown hold their value as evident in the continual rise of property values by over 25% in the last 5 years, 167% over 10 years. Properties in Yaletown area are currently selling in the range of $700- $1000+ per square foot depending on location, view and other key factors. When considering investment property in Vancouver, Yaletown is a wise decision.
Check out Rent It Furnished Realty investment property listingsfor a look at what’s for sale in Yaletown.
Victoria Farrell
Realtor, Rent it Furnished Realty