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Record-Breaking Year for Housing and Development in Surrey

Surrey Achieves New Heights in Housing and Construction

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.

Housing Accelerator Fund and Incentive Programs

Key Contributions to Housing Growth

Two incentive programs launched in 2024 under the Housing Accelerator Fund (HAF) played a critical role in boosting housing delivery:

  • Rapid Transit Incentive Program: Responsible for accelerating the development of 2,380 housing units, supporting transit-oriented growth.
  • Non-Market Incentive Program: Contributed 180 below-market rental units, addressing the need for affordable housing options in the city.

The combined impact of these programs resulted in over 2,560 new housing units, a substantial portion of the year’s total achievements.

Innovative Process Improvements

Streamlined Approvals and Permitting

Surrey implemented several innovative measures to facilitate faster approvals and improve efficiency in its housing development processes:

  • Simplified Development Permits: For houseplexes, the city reduced fees and expedited approvals, enabling quicker project launches.
  • Excavation Building Permits Pilot Program: Allowed developers to secure permits ahead of rezoning and development permit approvals, shortening project timelines.
  • Early Permit Submissions Pilot Program: Enabled building permit applications to be submitted earlier in the development process, reducing waiting times for final approvals.

These initiatives showcase Surrey’s commitment to removing barriers and creating a development-friendly environment.

Mayor Brenda Locke Commends the Achievement

Acknowledging a Milestone Year

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.

Planning for Continued Growth

Sustaining Momentum 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:

  • Expanding successful pilot programs to further streamline permitting processes.
  • Introducing additional incentives to encourage affordable housing and transit-oriented developments.
  • Strengthening collaboration with developers and community stakeholders to identify new opportunities for growth.

A City Committed to Progress

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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