The City of Surrey has reached a historic milestone in 2024, delivering 6,297 net new housing units and generating over $2.8 billion in construction activity. This marks a significant achievement, surpassing the previous record of 5,932 housing units in 2019. Despite economic challenges such as high interest rates and labor shortages, Surrey’s proactive measures and streamlined processes have led to this exceptional growth.
Two incentive programs launched in 2024 under the Housing Accelerator Fund (HAF) played a critical role in boosting housing delivery:
The combined impact of these programs resulted in over 2,560 new housing units, a substantial portion of the year’s total achievements.
Surrey implemented several innovative measures to facilitate faster approvals and improve efficiency in its housing development processes:
These initiatives showcase Surrey’s commitment to removing barriers and creating a development-friendly environment.
Mayor Brenda Locke expressed pride in the city’s record-breaking year. “This is the first time the City of Surrey has surpassed 6,000 housing units,” she said. “Despite high interest rates, labor challenges, and soft pre-sales, a record-breaking $2.8 billion in construction activity occurred in Surrey in 2024.”
The mayor credited the city’s efforts in streamlining land development and permitting approvals for this success. She reaffirmed the council’s dedication to enhancing housing supply and improving processes in 2025.
As Surrey celebrates its accomplishments in 2024, the city is already looking ahead to 2025 with plans to sustain its momentum. Key priorities for the upcoming year include:
Surrey’s record-breaking achievements in housing and development underscore its position as a dynamic and forward-thinking city. By fostering innovation and improving efficiency, Surrey continues to build a foundation for long-term growth and success.
With a focus on delivering more housing and enhancing its approval processes, the city remains committed to creating opportunities for residents, businesses, and investors. Surrey’s success in 2024 is a testament to what can be achieved through dedication and collaboration.
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