To: Honorable Mayor and Members of Town Council
Through: David L. Corliss, Town Manager
From: Tara Vargish, PE, Director, Development Services
Brad Boland, AICP, Long Range Project Manager
Title
Update: Residential Unit Data (through March 31, 2024) with Potential Buildout Estimates
Body
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Executive Summary
The purpose of this quarterly residential unit data update is to provide an overview of development activity and estimated population projections. This update includes data through the first quarter of 2024, ending on March 31, 2024. The data outlines the maximum zoning entitlements and growth areas approved by Council and provides an update on the pace of activity in each area of Town. During the first quarter of 2024, there were 96 single family units and 68 multi-family units completed, for an estimated increase of 428 new residents overall. The current estimates show an approximate population of 85,499 through March 31, 2024.
Staff continues to update the potential realistic buildout estimates as more information becomes available, and updates them with each quarterly report. The potential high and low buildout calculations provide more realistic unit and population estimates to aid in planning for future Town resources.
The down zoning of a portion of Memmen Young or the Alexander Way annexation are not reflected in this report as they have not yet been recorded by the end of the 1st quarter.