City of Surrey recorded $1.46 billion in building permit value in 2020
A total of $1.46 billion in building permits with a construction value of $1.46 billion were approved by the City of Surrey in 2020.
The municipal government says this includes about $1.1 billion of residential building construction value, and $238 million of industrial building construction value, which is just shy of the industrial record in 2019.
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While the total building permit value surpasses the city’s 10-year annual average, it falls short of 2019’s record of $2.29 billion, with $1.57 billion for residential permits. But it is near the previous record total of $1.52 billion made in 2018.
2020’s total is relatively strong, considering the blunt impact to the economy as a result of the COVID-19 pandemic.
“Despite a brief dip in construction when the pandemic first hit, investment rapidly bounced back, showing the confidence in Surrey as a prime destination for new business and residents,” said Mayor Doug McCallum in a statement.
“The Surrey SkyTrain expansion, combined with an increased demand for housing and commercial space in Surrey makes us confident these strong construction trends will continue through 2021.”
The municipal government also notes single-family dwelling permit wait times are now averaging nine weeks — down from the peak of 25 weeks in 2017.
As a COVID-19 measure, businesses have been given the ability to apply online, which is more convenient and has further cut wait times. The city states 35% of trade permits are initiated outside of regular business hours, and 98% of electrical permits and 86% of plumbing permits are now issued online.
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