Neighbourhood Profiles: Old Town and Latham Island

Old Town and Latham Island are Known For:

• Heritage buildings
• Tourist attractions & events
• Quirky architecture
• Houseboats
• Lots of exposed bedrock
• Beautiful lake views and waterfront access lots
• Close-knit community vibe.
• Main traffic arteries: Otto Drive, Morrison Drive
• Sub-neighbourhoods: Willow Flats, Peace River Flats

History

Old Town was the site of Yellowknife’s original downtown, established in the late 1930s.  Although gold had been discovered nearby years earlier, the area was deemed inaccessible until the development of the bush plane after the First World War.  The importance of the bush plane in Yellowknife’s history is still on display thanks to several active float bases and many docked planes throughout the neighbourhood.

In 1933 a significant gold deposit was discovered and in 1938 the city’s first gold mine – Con Mine – was opened.  It didn’t take long before the town outgrew the confines of Old Town and Latham Island, and in 1945 the downtown area was surveyed and development shifted up the hill.  Readers can learn more here: https://www.yellowknife.ca/en/living-here/resources/Heritage/Old-Town-Brochure-Final.pdf

In the early years, Old Town was connected to Con Mine by boat and eventually by road via School Draw Avenue – which was named for a small school that operated there from 1930-1937.

Housing

Old town is known for its eclectic mix of housing, ranging from the shacks of the Woodyard to the architecturally striking townhomes overlooking the causeway to Latham Island.  Due in part to its abundance of waterfront, Old Town and Latham Island property is in high demand.  The waterfront lots along Morrison Drive and Pilot’s Lane, with their west-facing back yards, represent for many the epitome of Yellowknife real estate.

Garages are rare in this neighbourhood, as they were in the rest of the country at the time when much of old town was developed.  Some would argue this allows for closer connections between neighbours – garages have a tendency to reduce neighbourly interactions.

Because most of Old Town and Latham Island sits on exposed bedrock, the area lacks underground water and sewer infrastructure.  Water and septic services are provided by truck.

Some areas of Old Town that do not sit on bedrock experience quite a bit of frost heave – which is the reason that many homes in the area are built on wood block foundations.

Home Prices

Higher than average for the city.  In 2023 only five homes sold in Old Town and Latham Island, ranging from an older mobile home for $225,000 to a custom home with lake views for $1,150,000.  The median average sale price was $975,000.  There are very few manufactured homes (modulars and mobiles) or condominiums in the area, which would be more modestly-priced options in other Yellowknife neighbourhoods.

For a detailed list of sales in the last 12-months, e-mail us at prospectrealty@century21.ca and let us know which neighbourhoods you would like historical sales information for.

Amenities

Click on the map to learn more about our MLS neighbourhoods.

Groceries: Weaver and Devore convenience store is located the heart of Old Town. The downtown Glen’s Independent Grocer is a 5-minute drive away.

Schools: 5-minute drive to the nearest elementary, middle and high school (École St. Patrick High School and Weledeh Catholic School)

Recreational Facilities: 10-minute drive to the Multiplex and Fieldhouse, 9-minute Drive to Ruth Inch Pool

Restaurants: Within walking distance – Old Town is home to several of Yellowknife’s most popular restaurants.

The Furthest You’ll Drive on a Semi-Regular Basis: the big-box stores, larger grocery stores and gas stations of Old Airport Road are a 10 to 12-minute drive from Pilot’s Monument, and the veterinary hospital and pet supply stores in the Kam Lake neighbourhood are also 12-minutes away.  Add five minutes during rush hour.

If you found this blog post valuable, we would really appreciate a Google review (to do so, follow this link: https://g.page/r/Cf_LTIUkVkX6EAI/review).  We strive to educate homeowners, whether they are our clients or not, because we believe that a careful and considered home purchase has a lot to do with how long people stay in the North and contribute to our communities.  We are passionate about the North, we are active in our communities, we intend to live here for a very long time and we want to build lifelong relationships with our clients and neighbours. Thanks!