The City of Surrey is in the final stages of reviewing a bylaw that would hike the city's Development Cost Charges. CityofSurrey | Surrey development infrastructure realestate realestatenews
In a council meeting last week, the City of Surrey gave a first, second, and third reading to its, which sets out new rates for the Development Cost Charges the City levies on new development projects.
The updated bylaw includes average DCC rate increases of 9.3% for single-family lots and 9.8% for multi-family lots. Both increase are averages, which vary depending on factors such as building type, neighbourhood, and zoning.The City says that the increased rates “reflect increases in annual construction and property costs, and increased infrastructure projects to support growth.”
The DCCs are charged by lot for single-family lots and by square footage per unit on multi-family lots. The rates were also increased for non-residential lots as well, including in commercial, industrial, and institutional zones, but by smaller amounts.Municipal Benchmarking Report Maximum DCC amounts that the City can charge for multi-family development projects have also been increased. In the 2022 Development Cost Charge Bylaw, maximums ranged from $23,513 per unit to $45,256, depending on the multi-family residential zoning of the project. In the updated 2023 bylaw, those same maximum amounts now range from $25,600 to $49,823 per unit.
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