Surrey Posts Record-High Monthly Construction Value of $2.95B
Surrey set a record in March by reaching its highest monthly construction value ever, with $2.95 billion in activity, the city announced.
The surge was driven largely by major capital projects, including roughly $1.7 billion tied to the new hospital and cancer centre in Cloverdale.
“We’re not immune to the economic challenges that the entire country is facing, but we remain committed to attracting development to Surrey, providing much needed housing for our growing population,” said Mayor Brenda Locke. “We want to be the easiest city to do business with in the region, and we’re increasingly seeing the benefits of all the work we’ve done to cut red tape.”
To support housing supply, the city has implemented measures to reduce costs, eliminate barriers and accelerate approvals. These include rolling back development-cost charges to 2023 levels; working directly with developers on office-space requirements, parking standards and amenity costs; and cutting tens of millions of dollars in municipal costs to help maintain project viability.
The city said it has also reduced residential building-permit timelines by 75% and introduced an AI-enabled permit-review system that checks building drawings for compliance prior to submission, significantly shortening review times and improving certainty for applicants.
“Our focus is on ensuring projects can move efficiently through the approval process so housing and infrastructure can be delivered as demand continues to grow in Surrey,” said Locke.
Pictured: Surrey City Hall
Photo: City of Surrey
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