If you can get in to Emily Carr I would seriously consider it.
Granville Island is gorgeous, you're right on False creek looking across at downtown. And it's a super artsy micro-community with a bunch of theatre companies and small galleries and studios. Plus all the street performers and the public market.
I've had a couple of friends who go/went there and only heard good things about it. A lot of companies will collaborate with the school and get teams of students to design things for them - Visa and Lululemon among others for the Olympics, as well as various projects since then.