OUR VIEW: Developer incentives could feed Surrey with much needed rental housing

According to a Metro Vancouver 2015 Housing and Transportation Cost Burden Study, 64,900 new rental units will be needed in decade

Surrey Board of Trade's idea to create developer incentives to encourage construction of rental housing stock is a good one.

We support the Surrey Board of Trade’s call for government to create incentives to entice developers to build market rental housing for low-to-middle income earners here, as it is desperately needed.

SEE MORE: Surrey Board of Trade wants developer ‘incentives’ to build rental housing

According to a Metro Vancouver 2015 Housing and Transportation Cost Burden Study, 64,900 new rental units will be needed in the next 10 years.

The board’s CEO Anita Huberman notes there is a dearth of quality rental housing stock here and suggests 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” to encourage developers to fill the gap — a gap that has become somewhat of a canyon. (See story page 13).

It’s an opportunity waiting for innovative developers with the right financial incentive, Huberman notes. Let’s hope the government heeds the board’s advice, developers bite and more people find affordable homes to rent as a result.

The Now


Just Posted

Bus driver assault in Vancouver once again raises safety concerns

A 49-year-old Surrey man was released on a promise to appear in court. No charge has been laid

‘Inventive ideas’ sought soon for Surrey One Act Festival, set to return to Whalley stage

Also planned by Royal Canadian Theatre Company is a Five Minute Play Writing Challenge

Draft business case for Surrey-Langley SkyTrain to be ready July 25

The Mayors’ Council on Regional Transportation heard a progress update Thursday

Mayors, First Nations chiefs, urge ‘immediate action’ on new Massey crossing

Joint letter asks province to move up timeline, consider only eight-lane tunnel options

SFU unveils campus expansion in Surrey for clean tech studies

New building will be home to sustainable energy engineering program

VIDEO: Killer whales hunt for seals in Vancouver harbour

Bigg’s killer whales feed on marine mammals like seals, sea lions, dolphins and even other whales

Vancouver man, 19, charged in human trafficking case involving teen girl

The 16-year-old girl was reported missing and later discovered in Vancouver

Worst 10 bus routes in Metro Vancouver for rider complaints

TransLink releases list, with Route 319 at the top

Amber alert issued for 5-year-old Ontario boy

Ethan Montes is believed to be in the company of his mother, 47-year-old Juliet Mohammed

Highway One to be widened east to 264th Street in Fraser Valley

The $235 million project includes upgrades to overpasses and a rail bridge

Port Moody mayor accused of sexual assault has first court appearance

Rob Vagramov’s case was adjourned to May 29

Most Read