SURREY – The Government of Canada and the City of Surrey announced that they reached an agreement to fast track 2,800 housing units over the next three years. This work will help spur the construction of more than 16,500 homes over the next decade.
The agreement under the Housing Accelerator Fund (HAF), will provide over $95 million to eliminate barriers to building the housing we need, faster. Surrey’s Action Plan commits to seven local initiatives that enable a variety of housing forms and densities to meet the diverse needs of the community. The funding will support zoning by-law amendments to allow higher density, multi-unit, and missing middle forms of housing. It will support incentive programs promoting high density development near rapid transit and affordable housing as well as policy changes to expedite development of below market housing. It will leverage reliance on professionals for delegated decision-making, expand the guaranteed permitting timelines program, and integrate technology to facilitate faster development and permit approvals.
HAF is helping cut red tape and fast track at least 100,000 permitted new homes over the first three years, which cities and regions estimate will lead to the creation of over 400,000 permitted new homes for people in towns, cities, and Indigenous communities across Canada over the next decade. It asks for innovative action plans from local governments, and once approved, provides upfront funding to ensure the timely building of new homes, as well as additional funds upon delivering results.
“The City of Surrey is grateful to the Government of Canada for $95.6 million through the Housing Accelerator Fund. The City is working on a number of initiatives to increase housing supply that will benefit from this funding, including helping support below-market and affordable rental housing projects. We are also adjusting our zoning to increase housing density, especially around rapid transit lines. Surrey is a leader in the region in supplying affordable housing and we will now expand further on this success thanks to this funding support,” said Brenda Locke, Mayor of the City of Surrey.
Source: Canada.ca
