In Vancouver, this building is the dividing line between Gastown (left) and the Dowtown Eastside (right). Gastown is the revitalized portion of the old dowtown, with pubs, boutiques, and the steam clock for the tourists. The Downtown Eastside is the devitalized section, and is the area of Canada having the highest rate of heroin abuse, aids, and vagrancy.
I was personally more impressed by the Eastside along Hastings than by Gastown, although I preferred the last one at night.