Straight Talk

Another sign of Punjabi Market’s decline? Vancouver produce store in Little India selling for $199,000

by Carlito Pablo on August 31st, 2020 at 10:42 AM
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      This year marks the 50th anniversary of the Punjabi Market in Vancouver.

      As accounts go, the strip also known as Little India was the first and largest market of its kind outside South Asia.

      Starting with the first South Asian shop that opened on May 31, 1970, the commercial area grew into a vibrant district.

      As Heritage Vancouver Society recalled, over 300 different shops operated on Main Street, between East 48th and 51st avenues, during the heyday of the Punjabi Market in the 1980s and 1990s.

      However, during the 2000s, Little India started to wane.

      Businesses packed up, and moved to Surrey, where many people of South Asian descent have settled, in part because housing is more affordable there.

      In June 2019, Heritage Vancouver Society released its annual list of endangered heritage sites, with the Punjabi Market tagged as one.

      "Without more substantial measures that address experiences and the types of shops, the special qualities that define the Market are at risk and Punjabi Market is vulnerable to losing it’s unique value to the area and City at large," the nonprofit noted.

      Also in June last year, Vancouver city council unanimously passed a motion by Green councillor Pete Fry, affirming the importance of the Punjabi Market.

      The motion also declared May 31, 2020, and the 50th anniversary of the Punjabi Market as Punjabi Market Day in the city.

      “In recent years, the Punjabi Market has been struggling, and new construction and residential development has the potential to transform the area,” Fry’s motion read.

      A business listing seems to suggest that another shop owner has given up on Little India.

      A produce market at 6407 Main Street is selling for $199,000.

      The shop operates as the Polo Market.

      The listing by realtor Jean Seguin’s Restaurant Business Broker states that the buyers will have a “great opportunity to grow and expand on an already established business”.

      It also notes that the lease is low, with an option to renew for another five years.

      The listing described the business as profitable, but did not provide details why the operator is selling.

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