At their meeting on January 27th, Council approved the Housing Target Progress Report and directed staff to submit the report to the provincial Minister of Housing and Municipal Affairs. The report provides progress information relating to Surrey’s Housing Target Order, covering the period from July 1, 2024, to December 31, 2024, as required under the Housing Supply Act. During the Reporting Period (the first six-months of the Order being effective), Surrey granted occupancy to a total of 2,567 net new units. This represents 60% of the first-year target of 4,233 units, taking into account demolitions of existing housing units. 

The breakdown of the net new units reveals a notable trend toward multi-family and ownership units:  

- Low-rise and high-rise apartments account for most of the units achieving occupancy during the reporting period, with 1,619 units. - Ownership units form the largest category of completed units, totaling 2,213 units. 

With 2,567 net units granted occupancy, 10,096 in-stream units in the approval process, and significant process improvements delivered, the City is on target to meet the first-year cumulative housing target by June 30, 2025. 

Additional information can be found in the full report by City staff.