Quick Links About the BIA Fast Facts Physical Profile Heritage and Culture Recreation Education Transportation Key Population Indicators Population Ethnic Origin Spoken Languages Level of Education Household Income Occupation Family Structure Housing Profile Structural Mix Tenure Age of Housing Stock Housing Prices Spending Patterns Survey Says Conclusions

Yaletown Neighbourhood Market Profile Home to Vancouver’s trendiest restaurants and nightlife as well as numerous destination retail boutiques, Yaletown is one of the significantly growing residential neighbourhoods in North America. Yaletown is a younger to middle age, professional residential community. The area is comprised of more residents with British, Canadian and Southern European heritage than average for the City of Vancouver. English is the dominant household language for area residents; however, many other languages are commonly heard in the area, including Chinese, Spanish, Persian (Farsi), Serbian and Korean. Household sizes in the area are smaller than the City and the GVRD average, with fewer married families and more common-law couples. The area is comprised almost completely of apartment/condominium residences, and as a result, there are significantly fewer homeowners than average for the City or GVRD. The area is more transient, with a much greater percentage of movers than the City of Vancouver and the GVRD averages. Yaletown also has more immigrants than the city or regional average. Reflecting their professional occupations and higher education levels, Yaletown exhibits higher household incomes than the Vancouver or GVRD average. A higher share of Yaletown residents are employed in business, finance and administration as well as management and sales and service related industries. About the BIA The Yaletown Business Improvement Area (BIA) boundary comprises the geographic polygon encompassing Drake, Pacific, Homer, Smithe, Hamilton, Robson, Beatty and Nelson Streets, Marinaside Crescent, and Expo Boulevard at the southeast edge of the downtown peninsula (see Figure 1). It accommodates approximately 11,600 residents, 940 businesses and 9,500 employees. This report provides an overview of the Yaletown neighbourhood market, focusing primarily on population, household and spending statistics. The Yaletown Commercial Area Profile focuses on key market information including zoning and development potential as well as business and employee mix. 1. For the purposes of this report, the “Yaletown” residential catchment area is defined as Granville Street (west) to Marinaside Crescent (east) and Robson Street (north) to False Creek (south). 2. Unless otherwise stated, statistics used in this report come from Statistics Canada’s 2001 Census data. Census data is copyrighted material and any reproduction without prior approval is prohibited. top Fast Facts BIA size: 31.2 hectares 11,608 residents (significantly more males than average for the City or GVRD) Population density per sq km: 116, as compared with 48 for Vancouver and 7 for the GVRD Highly educated residential base (83% have some form of post-secondary education) Residents are primarily employed in professional and management positions. Average household size: 1.7 people, as compared with 2.3 for Vancouver and 2.6 for the GVRD Average 2005 household income: $70,870 as compared with $64,889 and $68,853 for Vancouver and the GVRD respectively Average house price: $591,875, significantly higher than average for Vancouver West. Dominant languages: English, and Chinese, although significantly less than average for the City of Vancouver. More Spanish, Persian (Farsi), Serbian and Korean residents than average. 33% of residents have moved within the past year as compared with 20% for Vancouver and 16% for the GVRD. New Canadians: 15% international migrants in the past 5 years, higher than the City of Vancouver average of 11% and the GVRD average of 9%. Daytime employee base of 9,510 within the BIA top Physical Profile The Yaletown BIA is centrally located within the City of Vancouver approximately 1.5 kilometres from City Hall and 0.5 kilometres from downtown.3 Comprised primarily of comprehensive development zoning (DD, CD-1 and BCPED) and historic zoning (HA-3), Yaletown contains a vibrant mix of new developments and historic sites. Over the past 15 years, Yaletown has undergone a remarkable transformation from light industrial/warehouse district to a growing urban hub of converted warehouses filled with residents and businesses. 3. Source: City of Vancouver VanMap. top Heritage and Culture The Yaletown BIA is home to 27 heritage sites as listed on the Vancouver Heritage Register as well as the famous Roundhouse Community Centre, which is a provincial heritage site. There are several other heritage properties just outside the BIA boundary. The BIA is also a cultural centre, with seven individual art projects located in the BIA, many of which celebrate the area’s industrial roots. Recreation The Roundhouse Community Arts & Recreation Centre at the heart of the Yaletown BIA provides a variety of arts and craft classes and a fitness facility. It is also a popular site for plays and other events. The Robson Street Library is located one block north of the BIA at 302-345 Robson Street. Two parks, Helmcken Park and Marinaside Crescent Park are located within the BIA and several others are within walking distance. Education Elsie Roy Elementary is located immediately adjacent to the BIA at 150 Drake Street. King George Secondary in the West End is 2 km away. Transportation Recent traffic pattern changes – from primarily one-way streets to two-way, have made the BIA much more accessible by vehicle, although with few public parkades, the numerous metered street parking stalls are rarely empty. Within walking distance of Granville Street, downtown’s primary transit route, Yaletown is in proximity to frequent popular transit routes including #4 – Phibbs Exchange/Powell/Downtown/UBC, #6 – Davie/Downtown #10 – Hastings/ Downtown/ Granville, the #15 – Cambie/Downtown route, and #50 – Waterfront Station/False Creek South, as well as several night bus routes. Two community shuttles, C21 – Yaletown/ Burrard Station/ Beach and C23 – Yaletown/Davie provide local transit service within the BIA. The BIA is also in proximity to SkyTrain. The False Creek Ferry and Aquabus provide convenient water transportation to Science World, Granville Island and English Bay. In addition, the Seaside Bikeway and Greenway runs along the waterline just south of the BIA. The Downtown Historic Greenway runs northeast-southwest through the BIA. top Key Population Indicators Population With a total population of 11,608 Yaletown is comprised of 56% men and 44% women. This represents significantly more males than average for the City of Vancouver (49% men and 51% women). While the average age of Yaletown residents (37.3 years) is similar to the Vancouver and the GVRD average, there are significantly fewer children in Yaletown, as shown in Figure 2. The area saw a population growth rate of 15% between 2001 and 2005, significantly higher than the 3% average for Vancouver and 5% for the GVRD.4 This reflects the high rate of new residential development in the area. 4. Statistics Canada: adjusted five year forecast (2005). All other statistics are 2001. top Ethnic Origin Ethnic origin refers to the culture or ethnic roots with which residents identify themselves. In Yaletown, the top five ethnic origins in order are English, Chinese, Canadian, Scottish and Irish – the same top 5 as for Vancouver and the GVRD. As Figure 3 illustrates, Yaletown’s ethnic mix is more in keeping with the mix for the GVRD than for the City of Vancouver, with fewer residents of Asian ancestry and more of European ancestry. Yaletown’s population base is significantly more transient than usual for the City and the region. 33% of Yaletown residents have moved in the past year as compared with 20% for Vancouver and 16% for the GVRD. Most have moved from elsewhere in the City (22%). About 15% of Yaletown residents are new Canadians, having immigrated in the past five years (4% in the past year). This is higher than the City (11%) and GVRD (9%) average. top Spoken Languages As with residents of Vancouver and the GVRD, English is the dominant language. However, Yaletown exhibits differences in non-official spoken languages as shown in Figure 4. There are more Spanish, Persian (Farsi), Serbian and Korean speakers and fewer Chinese-speaking residents than average for the city and the region. top Level of Education Yaletown residents tend to have significantly higher education levels than City or regional averages. As Figure 5 illustrates, 83% of Yaletown residents 20 years and older have some form of post-secondary education, as compared with 68% of Vancouver and 66% of GVRD residents. Reflecting their higher education, the population aged 15-24 is less likely than their city and regional counterparts to be attending school on a full-time basis; however there are significantly more attending on a part-time basis. top Household Income Despite their smaller average household size, Yaletown residents exhibit significantly higher household income levels than their city or regional counterparts, as Figure 6 illustrates. This is likely reflective of their significantly higher education levels. Average 2001 household income levels in Yaletown were $63,020 as compared with $57,916 for Vancouver and $63,003 for the GVRD. Projected 2005 income levels are $70,870. Comparisons between Yaletown and the rest of the region are summarized in Figure 7. top Occupation Reflecting their higher household income levels, a high percentage of Yaletown residents are in the labour force. 74% of the population 15-years of age and over is in the labour force, which is significantly higher than the labour force participation rate in Vancouver (65%) and the GVRD (66%). The employment rate is also slightly higher (69%) as compared to Vancouver (60%) and the GVRD (61%). However, the unemployment rate is also slightly higher at 6% (as compared with 5% for the City and the region). A higher share of Yaletown residents are employed in professional and managerial positions than the city and regional average, and a smaller proportion are employed in sales and service, equipment operation and primary industry positions. This is illustrated in more detail in Figure 8. The top 5 occupations for Yaletown residents are: natural and applied science professionals clerical occupations business, finance and administrative professionals specialist managers other managers top Family Structure Yaletown is home to 6,633 households. Of these, 2,589 or 39% are families.5 This is significantly lower than average for Vancouver (57%) and the GVRD (71%). Yaletown households with families are smaller than Vancouver and GVRD averages for size and number of children as Figure 9 illustrates. Yaletown is also home to a higher proportion of common-law couples and a correspondingly smaller percentage of married and lone-parent families, as illustrated in Figure 10. 5. Family is defined as a census family - a married couple, a common-law couple or a lone-parent with a child or youth who is under the age of 25 and who does not have his or her own spouse or child living in the household. Married couples and common-law couples may or may not have such children and youth living with them. top Housing Profile Structural Mix Practically all (98%) of all Yaletown dwelling units are apartments/condominiums, significantly higher than in Vancouver (56%) or the GVRD (37%). Only 1% is semi-detached and there are no single-family homes in Yaletown. Figure 11 illustrates. This is reflective of Yaletown’s high density (116 persons per square kilometre as compared with 48 and 7 for the City and GVRD). top Tenure Despite its density, Yaletown has only slightly more renters than average for the City of Vancouver (50% as compared with 56% for Vancouver). This reflects the high percentage of condominium owners in the Yaletown area. There is very little non-market housing in Yaletown – only four buildings within the BIA, although there are another 12 within the catchment area. A January 2006 survey of the area confirmed continued gentrification of the area, with two recent development permits underway to construct residential towers. One, at 901 Mainland for three towers (34, 32 and 30 storeys and 23 townhouses for a total of 880 dwellings), most of which are sold out. Another at 10 Terry Fox Way consists of four market residential towers (755 units), which will also include some commercial. top Age of Housing Stock Reflecting Yaletown’s recent transition to residential, the age of Yaletown area housing stock is significantly younger than is typical of the city or GVRD, as illustrated in Figure 12. Fully 79% of Yaletown residences were built since 1991, almost four times more than average for the City of Vancouver. Many of these newer residences are complete reconstructions, with heritage exteriors that maintain the heritage look and feel of the circa 1900 architecture in the area. top Housing Prices Housing prices in the Yaletown residential area are significantly higher than that of the City of Vancouver and GVRD. The 2005 average price for an apartment in Yaletown (False Creek North) was $591,875 as compared with $364,033 in Vancouver West and $282,079 in the GVRD.6 The one-year average increase for apartments in Yaletown was 19.7%, in keeping with average for the GVRD but higher than the 17.3 % for Vancouver. 6. Housing price information courtesy of the Real Estate Board of Vancouver. top Spending Patterns Reflecting their higher education levels and household income levels, Yaletown households spend more per year than Vancouver or GVRD households overall. In 2005, Yaletown households averaged $67,835 in household spending as compared with $62,536 for City of Vancouver and $65,917 for GVRD households. On a percentage basis Yaletown residents spend slightly more on shelter, recreation, insurance and pension contributions than residents of the Vancouver and GVRD, and slightly less on transportation, as Figure 13 illustrates. Figure 14 provides a complete breakdown of average 2005 spending per Yaletown household. top Survey Says...! In 2003, the Yaletown BIA conducted a residential telephone survey to determine how residents viewed the current levels of service, events and facilities in the area.7 While Yaletown enjoys a growing local population with higher incomes levels, the survey indicated that less than 27% of all household retail spending was done within the BIA. The reasons given by residents for so little spending in their local area were high prices, stemming from the perception that Yaletown mostly focused on exclusive ‘boutique’ type businesses with higher prices than chain stores, such as those found in malls; the lack of variety of stores, which while contributing to the character of the area do not serve a broad range of needs; and the lack of certain types of stores, such as drugstores and supermarkets. The top 5 businesses residents of the BIA asked for were: grocery store/supermarket clothing stores drugstores hardware store books, cards, stationery stores In the subsequent two years, several new businesses opened in the BIA to address this important and growing need, including Shoppers Drug Mart, Book Warehouse and others. The BIA continues to support development of these important businesses to serve residential needs. 7. Yaletown Business Improvement Association Resident Telephone Survey, CV Marketing Research Inc, June 2003. top Conclusions As one of the fastest growing residential neighbourhoods in North America, Yaletown offers businesses the opportunity of a relatively affluent and educated residential base that spends a significant percentage of its disposable income on recreation and other non-essential goods and services. Existing businesses suffer somewhat from the perception of high prices and goods and services that do not cater to the residential base. However, the BIA is also a key destination shopping, dining and entertainment area within Greater Vancouver, and is home to Vancouver’s trendiest restaurants and nightlife as well as numerous destination retail boutiques. Yaletown residents enjoy urban living with all of its conveniences, and are younger to middle-aged, ethnically diverse, and highly educated individuals living in small and primarily single-person households. Commercial businesses catering to destination shoppers as well as affluent local residents will find a solid market base in the Yaletown BIA. top