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West Vancouver has been ranked as the wealthiest municipality in Canada, with a median household income of $101,874 (2010 figures). The municipality is also very ethnically diverse. West Vancouver has the highest percentage of residents of Chinese ancestry and British Isles ancestry per capita than any other Canadian municipality. It contains one of the largest communities of Filipino people outside Manila; it also has large South Asian and Indo-Canadian communities. The name "West Vancouver" was chosen by Colonel Richard Moody Stuart after he bought into land ownership over much from Sts'ailes to Horseshoe Bay including Cypress Island on August 6, 1887 for $10 an acre ($2/ha). He then built a sawmill there to cut lumber in order to support his real estate development plans for what became known as "Stuart's Town". In 1889 British Columbia Electric Railway began service between North Vancouver and New Westminster via West Van.