Coun. Morgan Nagel initiated a comprehensive residential development map to be delivered to council before the end of the year and on Monday night, the detailed report was delivered to the seven elected officials.
“It’s exactly what we were thinking – we’ve got a lot of pre-approved zoning and there’s a lot of development on the books,” said Mayor Jeff Genung.
Nagel was pleased with the report and commented that he wished he had the numbers before him during his first term on council. For him, the mapping has highlighted the need for “a greater balance between commercial/industrial and residential sectors.”
A total of 9,505 dwellings yet to be constructed are on the books. This would equate to a 15- to 18-year housing land supply.
Using these numbers, with a household average of 2.6 occupants, the population of Cochrane would rise to 51,033 from its current 26,320 in the next two decades.
Proposed communities account for an additional 2,433 dwellings including future communities under review or have not received land use such as Greystone, Southbow Landing, the Summit of River Heights and Rivercrest.
Using this scenario, the land supply for the grand total of 11,938 dwellings would equate to 19 to 23 years of housing supply and would result in a total population of 57,359.
These figures are based on an average development rate of between 518 and 629 dwellings per year.
Coun. Tara McFadden also requested an estimation of the availability of water licences to service the potential growth – highlighted by Genung in council chambers.
Administration has confirmed there are water licences available to supply a population of 40,000 residents – or an additional 13,680 residents to what the town’s current population is.
Based on the estimated development mapping, if Cochrane continued to grow at the current rate, there is enough water to supply eight to 10 years of residential growth.
