Vancouver

False Creek, Vancouver

Famed for its glittering waterfront and public market, the False Creek neighbourhood is unique in Vancouver for three specific reasons

By
REW.ca
May 4, 2015






Neighbourhood-False-Creek.jpg
The South False Creek community has become one of North America’s most highly acclaimed inner-city neighbourhoods

False Creek is, of course, not a creek at all (hence “False”), but an inlet that divides downtown from the southern part of Vancouver, with crossings at the Cambie, Granville and Burrard bridges. False Creek the neighbourhood is located on the south shore of the inlet, with MLS® defining the boundaries as Cambie to the east, Burrard to the west, and West 6th Avenue to the south. That means the MLS®-defined False Creek includes Granville Island, but does not include the new developments at the Village on False Creek (also known as Olympic Village or Southeast False Creek), which MLS® places in Mount Pleasant West.

While the population in the Olympic Village skews younger, the residents of False Creek are a decidedly older crowd, with almost half the population aged over 55 and a quarter over 65.

False Creek is unique from a real estate perspective for several reasons. First, there are no single-family homes in the area – not one. The former industrial area was developed in the 1970s with a clear community vision, and the housing options primarily include condos, apartments, subsidized housing and co-op buildings. Second, two-thirds of False Creek residents live on land leased from the city, with most of those leases expiring in 2036. So far the city has not decided what will happen to that land after the deadline, and this uncertainty can have an impact on current price and future appreciation of the properties. And third, it includes a community of floating homes – Sea Village at Granville Island.   

For now, one-bedroom condos in False Creek start below $400,000, with prices for higher end condos on freehold land reaching more than $1 million. View False Creek MLS® listings and open houses.

False Creek Amenities                                           

False Creek shopping

Granville Island Public Market is the place to go for food, produce and flowers. The Island also features locally owned shops selling crafts and design, books, marine equipment and more.

Schools and Education in or near False Creek

Elementary school

False Creek cafés and restaurants

There's a wealth of dining choice in False Creek, particularly on Granville Island, where Bridges, The Keg and Sandbar have long been favourites. The new Mahoney and Sons features a huge patio that seats 300, perched right over False Creek.

False Creek Sports and Recreation

Literally steps away from the seawall, residents of False Creek can jog, bike and stroll along the waterfront, or dragonboat, kayak and stand-up-paddleboard on False Creek itself. False Creek Community Centre, on Granville Island, offers tennis courts and boating programs along with a playground and kids’ water park.  Charleson Park, along the waterfront, offers plenty of green space and an off-leash dog area.

False Creek Arts and Culture

Granville Island is an arts destination for the whole city, with The Arts Club Revue Stage and Performance Works anchoring an impressive collection of performance spaces. The Island includes a number of  galleries, and hosts various festivals throughout the year. For now, the Island is also home to Emily Carr University of Art + Design, but the university is scheduled to relocate in 2016. The Island is also home to one of Vancouver’s most talked about public art projects – the Os Gemeos Giants at the Ocean Concrete Yard.

False Creek Transportation

False Creek is located close to mass transit, including several TransLink bus routes and the Olympic Village SkyTrain Station. The Aquabus and False Creek Ferries connect Granville Island and Stamps Landing to various locations along the north and south banks of False Creek.

False Creek Property Statistics

Average home price1

$735,197

   

Rental information2

Average rent for a private apartment

$1,193

Private apartment vacancy rate

1.1%

 

Makeup of dwellings3

Total private households

3,115

Single-detached homes

0%

Row homes

6.4%

Moveable dwellings (includes floating homes)

1.4%

Apartments, under five stories

42%

Apartments, five or more stories

50%

       

False Creek Demographics4

Population           5,795

Age4

65+

24.8%

55 to 64

20.5%

45 to 54

15.4%

35 to 44

13.4%

25 to 34

10.5%

15 to 24

5.5%

14 and under

9.6%

1REW.ca Interactive Map, incorporating data from the Chilliwack & District Real Estate Board, Fraser Valley Real Estate Board, and Real Estate Board of Greater Vancouver, May 2015.
 

2CMHC Rental Market Report, Vancouver and Abbotsford-Mission CMAs, Fall 2013. The information is based on the “South Granville/Oak” area as defined by CMHC, which includesFalse Creek.

3 Statistics Canada, Census 2011. Household Type (17), Household Size (9) and Structural Type of Dwelling (10) for Private Households of Census Metropolitan Areas, Tracted Census Agglomerations and Census Tracts, 2011 Census.The information is based on Census Tract 0049.02, which aligns with the boundaries of False Creek.

4 Statistics Canada, Census 2011. Age (131) and Sex (3) for the Population of Census Metropolitan Areas, Tracted Census Agglomerations and Census Tracts, 2011 Census. The information is based on Census Tract 0049.02, which aligns with the boundaries of False Creek.

Neighbourhoods Surrounding False Creek


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