Surrey, BC – The City of Surrey has marked 2024 as a record-setting year for housing development, with 6,297 new housing units approved, generating over $2.8 billion in construction value. This milestone reflects a significant shift from regulation to facilitation, aimed at accelerating housing development and addressing the growing demand.
In a strategic push to enhance affordability and accessibility, 2,370 homes were fast-tracked near transit corridors, thanks to the City’s streamlined approval processes under the Housing Accelerator Fund. The initiative has been instrumental in expediting development while ensuring that residents have better access to affordable housing options.
“2024 has been a pivotal year for Surrey, driven by our Council’s dedication to enhancing the quality of life for every resident,”said Mayor Brenda Locke. “As we grow to become a city of one million people, it’s time for us to define a bold new path forward, acknowledging our incredible potential.”
The City’s efforts align with broader provincial and federal goals to increase housing supply and affordability, particularly in high-demand areas. With ongoing growth and continued investment in infrastructure, Surrey is positioning itself as a leader in housing innovation and urban development.