This neighbourhood used to be known as Japantown / Little Yokohama / Little Tokyo for its concentration of Japanese immigrants. After World War II, when Japanese Canadians' property was confiscated, the area became more industrial and eventually fell into disrepair.
Today, the neighbourhood is called Railtown for its proximity to the working rail yards. The relatively undiscovered nature of the area (and therefore low-ish rents) has attracted artist-types. Many of the former warehouses and factories have been renovated into restaurants, furniture workshops, studios, and offices for creative professionals.
Railtown is not the place to go if you want to window shop, but it offers a unique perspective of an evolving neighbourhood.