Surrey aims to grow its housing supply by 27.8% by December 2026, unlocking $100.7M in federal funds to accelerate development and affordable rentals.
City Targets 13,000 New Homes with Federal Funding Support
In a major move to tackle housing shortages, the City of Surrey is on track to increase its housing supply by 27.8% by December 2026, according to a progress report presented to council on July 28. The ambitious plan is part of the federal Housing Accelerator Fund (HAF), which ties $100.7 million in funding to clear development benchmarks.
Funding Tied to Results and Strategic Planning
Originally approved in December 2023, the Housing Accelerator Fund allocated $95.6 million to Surrey over three years. The funding, provided by the Canada Mortgage and Housing Corporation (CMHC), is being released in four equal annual instalments. A recent approval of a “new initiative” grant boosted the total funding to $100.7 million, contingent on the city issuing 13,000 new housing units by the end of 2026.
Milestones Surpassed Ahead of Schedule
As of May 4, 2025, Surrey had issued 9,017 net housing units—exceeding its second-year target of 8,667 units. This achievement represents 73% of the city’s three-year target and places Surrey well ahead of schedule. The city averages 4,333 new net dwellings annually to meet its final goal.
Strategic Planning and Process Overhaul
The city has undertaken over 25 major process improvements in its first year under HAF, aimed at accelerating approvals and reducing red tape. The approved “new initiative” includes updates to Neighbourhood Concept Plans (NCPs) to better align zoning with current market demands. These updates are expected to be presented to council by January 31, 2026.
Zoning Reforms to Boost Affordable Housing
On the same day the report was tabled, Surrey council endorsed in principle a new “as-of-right” zoning initiative. The policy aims to ease regulatory barriers for non-market and below-market rental housing projects. The report notes that Surrey will require 53,111 new dwellings over the next five years, including 10,911 affordable rental units, to meet expected population growth.
Next Steps and Outlook
City council will receive the next HAF progress report in Q1 of 2026. Meanwhile, staff remain focused on updating land use designations and ensuring continued momentum. With solid progress already demonstrated and expanded funding secured, Surrey’s aggressive housing strategy is emerging as a model for municipalities navigating Canada’s housing crisis.
