Monument for East Vancouver is an art installation by Ken Lum.
Lum is a conceptual artist generally concerned with issues of identity, and a Chinese-Canadian who was born and raised in Vancouver. He's among the most highly acclaimed artists ever to come from the Lower Mainland. I'm not sure whether the East Van cross symbol is originally by Lum, but the monument itself is a pretty highly respected piece in the art world.
It's interesting to hear peoples' opinions of it.
Here's a full-shot of it.