They are basing the historic designation on the area's roots as Whalleys Corner, a gas stop on route between New Westminster and the US border dating back to the 1930's when the Patullo Bridge was completed. Even though the gas stop doesnt exist anymore, it is the original area where Surrey began to develop. Aside from this there are a few mid-century buildings in the area lending to the historic designation, the 1950's flamingo hotel, and neon-signed Round-Up Cafe, and Rickshaw Chinese Food.
While not all that significant, it's good that they are recognizing this history and embracing what little there is. At least there is a vision for the area, and it will turn around despite the negative views of pessimists. If Hastings can revitalize, so can Whalley.