To: Honorable Mayor and Members of Town Council
Through: David L. Corliss, Town Manager
From: Tara Vargish, PE, Director, Development Services
Julie Kirkpatrick, PLA, ASLA, Long Range Project Manager
Title
Update: Residential Unit Data (through March 31, 2021) 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. On February 2, 2021, staff presented an updated residential unit data report through the end of 2020. This update includes data through the first quarter of 2021, ending on March 31, 2021. 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. The current estimates show an approximate population of 75,730, which is an increase of about 724 persons from the previous quarter. There were 238 additional single family and 0 multi-family homes receiving certificates of occupancy within the first quarter of 2021 as compared to the previous quarter. Staff has added a new analysis to this report, potential buildout estimates. The potential high and low buildout calculations provide more realistic unit and population estimates to aid in planning for future Town resources.
Findings
The data shows that the Comprehensive Master Plan adopted in 1999 and updated in 2002 and in 2017, was on track with projections that the Town may grow to an estimated 86,000 to 159,000 residents. The current data, through March 31, 2021, is estimating a maximum zoned/entitled population of 143,146 residents. On average, given the amount of land available for development, the likelihood of the larger planned developments reaching the maximum density allowed through entitlements is low because there are a larger number of entitled units remaining than available land to build those units. Potential buildout analysis determined a more realistic buildout population may be between 122,000 to 111,000 persons, based on current information.
The Town of Castle Rock is an attractive community to live, work and play in, and we expect it will continue to attract residential and commercial growth for many years to come.
Attachments
Attachment A: Town of Castle Rock PD Zoning Map
Attachment B: Unit Data through March 31, 2021 with Potential Buildout Chart