The City of 麻豆精选 has blown past its first-year housing target.
A report to council on Monday, Feb. 10, it states 麻豆精选 has completed 1,501 new units in the first year, surpassing the target of 1,363. The interim report covers the period between July 1 to Dec. 31, 2024.
On June 25 last year, the city received a provincial housing order which stated it was to build 8,774 new housing units over a five-year span, with annual progress reports.
Of the units completed, 764 are rental units and 737 are owned. Also, 644 of the units are market value while the other 120 are below market. Over the last six months, the city issued 31 development permits and 114 building permits. These permits total 2,954 new units.
"The City of 麻豆精选 has met its year one housing target in the first interim reporting period and is on track to nearly double this target," the report reads. "Overall, this is a positive step towards achieving a healthier housing system and complying with the provincial housing targets."
However, the permits issued over the last six months could be a factor in targeting future goals.
"The number of building permits issued during the reporting period is below the five-year average, which could impact completion numbers in the fourth or fifth year of housing target reporting," stated the report. "Staff will need to continue their efforts to promote housing supply and meet the overall five-year target of 8,774 units."
According to the five-year target, the city needs to have 2,856 units completed by year two, 4,545 by year three, 6,496 by year four, and 8,774 by year five.
