Railtown, or formerly known as east of Gastown or the DTES (Downtown Eastside) is developing at an unpresidented rate. Because of the former industrial aspect of the area, a lot of development houses, creative agencies and creative business individuals are flocking to the area. Old warehouses and munitions factories are being transformed into creative office spaces for furntiure manufacturers, high tech software companies, creative design and development agencies and varying studios.
The reason for the massive move east is the price. Gastown prices are almost 50-100% more than Railtown prices and you get more bang for your buck. Gastown is also very condenced and hard to manage a business that may require parking, shipping and larger vehicle access.
Along with this amazing new trend, come new businesses and jobs. With those come the development of residential and commercial spaces. There are quite a few new projects being developed in Chinatown and along Hastings int eh DTES which is driving up demand and prices are sure to follow.
If you were considering buying a commercial or residential property in a new and developing area, Railtown might be your ticket to success. The same trend is happened with Main street. This unique street used to separate the higher income from the lower income, but with young families and individuals having increasingly difficult times buying property, everyone is moving east. This is bring new ideals, disposable income and strong values into lower income neighbourhoods, increasing neighbourhood prices.