The land was originally used by Indigenous peoples for thousands of years before British Columbia was colonized by the British during the 1858 Fraser Canyon Gold Rush and was one of the first areas to be explored in the city. For many years after colonization, the future park with its abundant resources would also be home to non-Indigenous settlers.The land was later turned into Vancouver's first park when the city incorporated in 1886. It was named after Lord Stanley, 16th Earl of Derby, a British politician who had recently been appointed Governor General. It was originally known as Coal Peninsula and was set aside for military fortifications to guard the entrance to Vancouver harbour. In 1886 Vancouver city council successfully sought a lease of the park which was granted for $1 per year. In September 1888 Lord Stanley opened the park in his name.