This Is Downtown Surrey
Potential Economic and Business Impacts of a New SFU Medical School in Surrey City Centre
Top 10 Reasons to Live, Work, Play, and Invest in Surrey City Centre
Recognized as a Top Place to Invest
- Real Estate Investment Network (REIN) ranked Surrey as 2017’s #1 city to invest in, with the housing market expected to outperform all other cities in BC between 2018-2023.
- MoneySense ranked Surrey as the #1 place to buy real estate in 2019.
- Vancity Credit Union named Surrey the best place to start a small business in Metro Vancouver in 2017.
- 2nd lowest municipal tax for businesses in BC.
- Over $13.7 billion in construction between 2007-2017.
- Record $2.29 billion in building permits issued in 2019.
Surrey Among the Fastest Growing Cities in BC
- The City of Surrey had a population growth rate of 11% between 2011-2016, while the City Centre grew by a rapid 18% over the same period, making it one of the fastest growing areas of the region.
- Surrey outpaced the City of Vancouver (4.6%), the Vancouver CMA (6.5%) and BC (5.6%) in population growth between 2011-2016, accounting for 1/3 of all population growth in Metro Vancouver.
- Surrey is projected to become the most populated city in BC by 2041 (770,000), with approximately 1,000 new residents moving to Surrey every month.
- Strong job growth, with 2,000 new businesses per year in City of Surrey.
Rapid Transit Connected
- 3 Expo Line SkyTrain stations are located within City Centre, providing direct access to Downtown Vancouver in 40 minutes, along with numerous other regional centres.
- Planned Expo Line extension from City Centre to Fleetwood by 2025, and Langley in the future.
- Rapid Bus service connects City Centre to Guildford Town Centre and Newton Town Centre, with planned upgrades in the future.
- The City of Surrey has a long-range plan for a city-wide rapid transit grid along major arterials in future.
Geographic Centre of Metro Vancouver
- Strategically located in the geographic centre of Metro Vancouver with access to regional destinations in all directions.
- Close proximity to major highways including: Highway 1, Highway 10, Highway 15, Highway 17, and Highway 99.
2 international airports within 45 minutes of each other:
- Vancouver International Airport (YVR) | 35km from City Centre
- Abbotsford International Airport (YXX) | 41km from City Centre
Access to 2 BC Ferries Terminals:
- Tsawwassen Terminal | 53km from City Centre
- Horseshoe Bay Terminal | 34km from City Centre
Access to 2 US Border Crossings within Surrey:
- Peace Arch Crossing (Highway 99)
- Pacific Highway Border Crossing (Highway 15)
Designated 2nd Metropolitan Core within Metro Vancouver
- The Metro Vancouver Regional Growth Strategy (RGS) designates Surrey City Centre as the region's 2nd metropolitan core after Downtown Vancouver, and primary core South of the Fraser.
City Centre is planned to absorb significant population and job growth over the coming decades, including:
- 43,000 housing units by 2041
- 49,000 jobs by 2041
Affordability and Value
- Surrey City Centre remains one of the most affordable areas to buy or rent a home in Metro Vancouver, while also providing access to rapid transit, services, amenities, parks, and more—in a mixed-use, walkable community.
- North Surrey was listed in the Top 5 most affordable markets to purchase an apartment in 2018 according to BC Business
Fraser Valley Real Estate Board lists North Surrey as having one of the highest increases in residential real estate values within the region:
- 106% increase in apartment values (2015-2019)
- 96.2% increase in detached home values (2015-2019)
City Centre Undergoing Rapid Transformation
- Surrey City Centre is rapidly transforming into a vibrant, walkable, transit-oriented, downtown
- The past decade has seen the opening of Surrey City Hall, Surrey City Centre Library, and Civic Plaza, creating a new focal heart of the city
- A new City Centre Plan was adopted in 2017 covering an area of 1,400 Acres (570 Hectares) – approximately the same size as the Downtown Vancouver peninsula, and twice the size of Metrotown in Burnaby
- An update to the Surrey City Centre Plan is currently underway and expected to be completed by the summer of 2022, which sees the establishment of an office-oriented Central Business District (CBD), a review of plan-wide densities, planning around the future 140th St & Fraser Hwy SkyTrain Station, and more
- As of January 2020, there were over 65 major development applications underway within City Centre, representing over 23,000 units and 1,500,000+ sq.ft. of retail and office space
- The Federal Government announced plans in 2019 for a major centralized government office hub in Surrey City Centre
An Emerging Educational Hub
- City Centre is home to campuses of 2 major universities and numerous colleges including: Simon Fraser University (SFU), Kwantlen Polytechnic University (KPU), Douglas College, Sprott Shaw College, Stenberg College, and more
- Simon Fraser University (SFU) opened its Central City Campus in 2005, and recently opened their new Sustainable Energy & Environmental Engineering Building in 2019
- SFU's Surrey campus is planned to undergo 2 more phases of expansion over the coming decade, as part of a mixed-use redevelopment of the former North Surrey Recreation Centre site and Surrey Central Bus Loop. This expansion will see the establishment of new Health Science Innovation and Creative Technologies faculties, and also bring more general study spaces, doubling the current capacity of the campus
- In 2019 the provincial government announced that it would be investing over $17 million in SFU Surrey to establish a new Quantum Algorithms Institute, one of the first facilities of its kind focused on building quantum computing software and algorithms
An Emerging Healthcare Hub
- City Centre is home to Surrey Memorial Hospital - the 2nd largest hospital in British Columbia, and largest hospital under the Fraser Health Authority
- A new Health & Technology District is emerging around Surrey Memorial Hospital consisting of a mixed-use office hub providing space for medical and professional services, research labs, start-ups, tech companies, and more, having synergies with nearby universities
Diverse Parks, Recreation, and Culture
- City Centre offers close proximity to numerous major parks and green spaces including Green Timbers Urban Forest, Holland Park, Whalley Athletic Park, Tom Binnie Park, Forsyth Park, Hawthorne Park, and many smaller neighbourhood parks
- City Centre is home to numerous major festivals throughout the year including Surrey Fusion Festival, FVDED in the Park, Surrey Tree Lighting Festival, and BC's largest Earth Day Celebration
- Future plans for a Performing Arts Centre, Interactive Art Museum, and more