Cochrane experienced a 37 per cent drop in the value of building permits issued for 2018 largely because fewer new homes are being developed.

The town issued permits totalling about $139 million, compared to $201 million in 2017. Leading the drop was permits for single detached and multi-housing homes receiving building permits throughout the course of the year.

Permits were issued for 208 new single dwelling homes, the least in the last five years and 116 fewer than in 2017.

Multi-home unit totalled 44, down from 158 in the year previous. Development of these homes fluctuates significantly and peaked at 384 units in 2015.

The development of duplex has remained steady through it all, hovering around 100 annually for the last five years.

Commercial and industrial development was on the upswing and that potentially is good news for the town’s determination to increase its nonresidential tax base.

Year-end stats also estimates Cochrane has broken the 29,000 population threshold. We’re estimated to have a population of 29,035 after removing vacant units and show homes from the count. Fully occupied, we’d have about another 600 people.