False Creek & Olympic Village
Photo: Mark Faviell
Two of the city’s most memorable events—Expo 86 and the 2010 Winter Olympics—have done much to shape this region, transforming an industrial area into a hot spot. The athlete housing converted into prime real estate at one end of False Creek has invited an influx of trendy businesses, and the seawall path running along the creek connects this area to the perennially adorable Granville Island.
Real Estate: Olympic Village Finally Comes to Life
Plagued by money problems following the 2008 financial crisis, Olympic Village was slow to get off the ground, but now it’s evolved into one of the hottest markets in the city—with some units even fetching Coal Harbour and Yaletown prices. With its central location, built-in amenities and walkability, it’s also rapidly becoming a retirement favourite. The western stretch of False Creek is trickier, with most buildings on leasehold land; to boot, some of those leases are coming up for renewal within 30 years, making it increasingly tough to land a mortgage. The few freehold properties, however, still get snapped up in a flash. “They’re right on the seawall, so they’re buying into a lifestyle—and now there’s all the infrastructure, with banks and markets and bars and restaurants,” says realtor Rod MacKay.
Median Age of Residents: 37.6
Average Monthly Rent: $1,370
Avg. Total Household Income: $93,073