Elizabeth takes its name from Elizabeth College, a small Lutheran women's college founded in 1897 on the present-day site of Presbyterian Hospital. The community began in 1891 when a streetcar was established along East Trade Street to the area, making it the second oldest streetcar suburb in Charlotte. Elizabeth began to develop rapidly after 1902, w…Elizabeth takes its name from Elizabeth College, a small Lutheran women's college founded in 1897 on the present-day site of Presbyterian Hospital. The community began in 1891 when a streetcar was established along East Trade Street to the area, making it the second oldest streetcar suburb in Charlotte. Elizabeth began to develop rapidly after 1902, when a trolley line was completed, and was annexed in 1907. Home of Independence Park, the first public park in the city, Elizabeth became one of the most fashionable residential areas in Charlotte in its early days. In 2006 Elizabeth had a population of 3,908.