The City of Surrey’s initiative to accelerate multi-family residential development near rapid transit involves a significant 50% rebate in various application fees, including those for planning, engineering, and building permits. Eligible projects, located within 1.5 km of SkyTrain stations or RapidBus routes, must adhere to specific criteria, such as minimum building heights, floor area ratios, and residential floor area sizes. The goal is to encourage the construction of approximately 3,000 new homes, aligning with Surrey’s ambitious housing targets.
In addition to the Rapid Transit Development Incentive, another program targets non-market rental housing, offering exemptions on municipal development charges and community amenity contributions or rebates on permit fees. This initiative aims to support the creation of 300 units over three years, contributing to Surrey’s broader housing strategy.
Both incentives are made possible by a $95 million grant from the federal Housing Accelerator Fund, signifying a collaborative effort to address housing challenges. The City of Surrey has also leveraged part of the grant to introduce an innovative AI-powered online permitting tool, streamlining the development process and enhancing accessibility for stakeholders.
