SURREY — The Surrey Board of Trade is calling on the provincial and federal governments to develop “tax and other incentives” to entice developers to build more market rental housing for low- to middle-income earners in Surrey.
OUR VIEW: Developer incentives could feed Surrey with much needed rental housing
Board CEO Anita Huberman says that while experts are busy measuring the impact of the foreign entities transfer tax, funds from a housing priority initiatives special account should be used as a “carrot for developers to build quality rental stock” for people earning $30,000 to $60,000 dollars or more.
“There’s a big gap in the market just ready for innovative developers with the right financial incentive,” Huberman said.
The BC Chamber of Commerce adopted a Surrey Board of Trade resolution in May seeking to address the shortage of housing for skilled workers.
“As most of the foreign purchasers are targeting high-end housing, I’m more concerned with the housing needs of our skilled labour,” Huberman said.