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.
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.