Along with Africville in Halifax, Hogan's Alley was a small but vibrant community that was dismantled in the 1960s to make way for new construction.
The area, close to where Vancouver's Chinatown currently exists, was home to the city's first concentrated black community.
Two of its most prominent residents — Fielding William Spotts Jr., a cooper by trade and the first Baptist in Western Canada, and Nora Hendrix, grandmother to rock legend Jimi Hendrix and cook at Vie's Chicken and Steak House — are featured on the stamp.
Wayde Compton, a local writer and poet, said the significance of the commemorative stamp is substantial.
"I grew up without these kinds of things," he said. "Knowing that something like this exists, and knowing that generations that are coming up now are going to have this as part of the regular landscape is very satisfying."
Canada Post has begun issuing the stamps today.