City of Surrey Moves to Cut Building Development Fees in Push for More Housing
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The City of Surrey is taking significant steps to address housing shortages by proposing a reduction in development cost charges (DCCs). This initiative aims to encourage more housing construction while ensuring that funding for vital infrastructure and community amenities remains intact.
Last week, the Surrey City Council approved an updated DCC bylaw for submission to the Government of British Columbia. If the provincial government approves this proposal, residential development charges will be reduced by approximately 7-9% compared to the levels set for 2024.
Editor's Comment
As a seasoned real estate agent in Greater Vancouver, I see the proposed DCC reductions as a positive step towards addressing the housing crisis in Surrey. This move not only aims to increase the housing supply but also positions Surrey as a competitive market for buyers and investors alike.