2018 development report reflects healthy level of residential growth in Cochrane, with 359 new homes built in 2018, compared to 588 in 2017. In addition, 211 development permits were issued: 38 for non-residential development and 44 for home-based businesses.
Town Planning staff presented the annual development update at Monday night’s Council meeting.
“These numbers represent a healthy level of residential development for our community,” said Mayor Jeff Genung. “Council is committed to exploring opportunities to diversify our tax base and focus on commercial and light industrial development. The interest we are seeing in our downtown core from the development community is a strong indicator of future investments in Cochrane.”
The update outlines year-over-year change in Cochrane, including land use approvals in new communities, building activity and the number of approved lots still to be developed. The summary estimates the number of dwelling units based on current building permit data and registered subdivision plans.
Cochrane’s current projections align with last year’s projections, with 15-20 years of land for long-term planning, supporting a population of 57,000. While Cochrane’s existing water resources will support a population of 40,000.
Development is market driven. In Cochrane, it is guided by the Municipal Government Act, provincial and regional plans, the Town’s overarching Municipal Development Plan and specific Area Structure Plans, Neighbourhood Plans and other approved documents.