The Canadian Government has reached an agreement with the City of Surrey, the second-largest municipality in BC, allocating $96 million through the Housing Accelerator Fund. The funding aims to expedite the construction of 2,800 housing units in the next three years and catalyze over 16,500 homes over the next decade. Surrey has committed to seven local initiatives supporting diverse housing forms and densities.

The funding will facilitate zoning amendments for higher density and multi-unit housing, incentive programs near transit, and policy changes expediting below-market housing development. Surrey also plans to leverage professional decision-making and integrate technology for faster permit approvals. The Housing Accelerator Fund, launched in 2021, has previously benefited Vancouver, Burnaby, and Kelowna.