Surrey’s Bold Vision: Arena, Medical School, and a City Transformed
Surrey, British Columbia, is embarking on a significant period of growth and development, anchored by two major capital projects: a fresh 10,000-seat indoor arena and the first phase of the Centre Block, which will house Simon Fraser University’s (SFU) new medical school. These projects, totaling hundreds of millions of dollars, signal a strategic investment in the city’s future as a regional hub for entertainment, education, and healthcare.
A New Entertainment District Takes Shape
The City of Surrey is committing nearly $200 million over five years to the construction of the new arena, which will be the third-largest spectator capacity indoor arena in British Columbia, after Rogers Arena and the Pacific Coliseum in Vancouver. This investment is a key component of the city’s plan to establish a vibrant entertainment district in Surrey City Centre. The bidding process for a private developer, operator, and sports tenants is already underway, with contract awards expected in August 2026. Construction is currently slated to begin in 2027.
The arena isn’t just about sports; it’s envisioned as a multi-use facility with a hotel, conference centre, retail space, and residential units integrated into the development. Revenue generation from these components, along with tenanting and naming rights, will contribute to the arena’s funding, construction, operation, and maintenance.
SFU’s Medical School: A Catalyst for Growth
Alongside the arena, the Centre Block project represents another substantial investment in Surrey’s future. The first phase, costing approximately $152 million from the city, will be a 12-storey office and academic building in partnership with SFU and the provincial government. This building will house SFU’s new medical school, the second in British Columbia and the first new one in Western Canada in over six decades.
The medical school is designed to focus on primary care and will contribute to addressing the growing demand for healthcare professionals in the region. The City’s contribution will cover the ground-level retail space and the first 3.5 storeys of office space, while the provincial government and SFU will fund the remaining eight levels. Construction is scheduled to begin in the fourth quarter of 2026, with completion anticipated in the second half of 2030.
A $779 Million Capital Plan: Beyond the Headlines
These two flagship projects are part of a larger $779 million capital plan for 2026-2030. This plan also includes funding for ongoing maintenance of existing infrastructure ($324 million) and other major capital projects ($455 million). The funding will be sourced through internal borrowing ($304 million), the general operating budget ($69 million), capital project reserves ($35 million), and other City reserves ($37 million).
Beyond the arena and medical school, the capital plan includes investments in road and transportation upgrades ($358 million), relocation of the Fleetwood Fire Hall, expansion of the Chuck Bailey Recreation Centre, and the development of new parks and outdoor amenities.
Affordability and Public Safety Remain Priorities
Despite these significant investments, the City of Surrey is aiming for a modest 2.6% property tax increase in 2026, keeping it among the lowest in Metro Vancouver. This increase will support not only the capital projects but also crucial public safety initiatives, including the hiring of 20 additional firefighters, 10 additional bylaw officers, and 189 additional Surrey Police Service (SPS) officers. The SPS operating budget for 2026 is projected to be approximately $285 million, an $84 million increase from 2025.
Looking Ahead: A City on the Rise
Surrey’s ambitious capital plan reflects a commitment to long-term growth and development. The city is also actively pursuing opportunities to attract major sporting events, such as hosting Canada Soccer’s National Training Centre, which requires a site of over 40 acres. These initiatives, combined with the investments in entertainment, education, and healthcare, position Surrey as a dynamic and thriving city poised for continued success.
Frequently Asked Questions
Q: When is construction expected to begin on the arena?
A: Construction is currently targeted to begin in 2027.
Q: How much will the average homeowner’s property taxes increase?
A: The proposed 2.6% tax increase would add approximately $75 to the city portion of the annual property tax bill for the average assessed single-family home.
Q: What is the total cost of the Centre Block project?
A: The total cost of the first phase of the Centre Block project is approximately $672 million, with the City contributing $152 million and the provincial government and SFU contributing the remaining $520 million.
Q: What is the Surrey City Development Corporation’s role in these projects?
A: The Surrey City Development Corporation, a City-owned, for-profit real estate development company, is leading the development of both the arena and the Centre Block projects.
Did you know? Surrey is one of the fastest-growing cities in British Columbia, making strategic investments in infrastructure and amenities crucial for accommodating its expanding population.
Pro Tip: Stay informed about Surrey’s development projects by visiting the City of Surrey’s official website and subscribing to their news updates.
Explore more about Surrey’s future at https://www.surrey.ca/
