Fort Smith metro building activity up over 58% through first quarter of 2017

Fort Smith, Van Buren, and Greenwood, posted building permit value gains through the first three months of 2017 compared to the same period last year. Overall the three cities added $59.697 million in permits against 2016’s $37.64 million valuation through March, a gain of 58.5%.

Fort Smith led the way – not to the extent of its 84% January gain but a bit better than the 52.7% bump from February. Arkansas’ second largest city posted $18.586 million in permit values for the month, compared with $13.298 million in March 2016.

Most of the month’s activity landed on the commercial side with $13.138 million logged on 45 permits. The residential portion was a distant second, adding $3.125 million in valuations on 163 permits.

The largest individual line items fell on the commercial side with four seven-figure permits in particular topping $10.563 million. Glatfelter Advanced Materials at Chaffee Crossing took out two of three for remodels in the amounts of $4.949 million and $2.07 million. Another $2.144 million was issued to Patterson & Dewar Engineers for work at 3117 State Line Road, the site of trucking company T’s Transport. The smallest of the Big Four was a $1.4 million line item to Harness Roofing for a major roof repair at 4411 Midland Boulevard, Building 4, the site of Georgia Pacific-Dixie Products.

For the first three months of the year, Fort Smith posted $51.248 million in permit values against $32.561 million for the same period last year, a 57.4% increase.

VAN BUREN, GREENWOOD
Van Buren boosted its overall numbers with a strong March performance. Up until its approximately 940% gain last month, the city was barely staying above water, posting just a 15.8% improvement for the first two months of the year with a cumulative total of $1.501 million against $1.297 million in 2016. That changed over the last 31 days, however, with $1.928 million in valuations against $185,700 during the same period last year. This brought overall totals to $3.429 million year-to-date against $1.483 million through the first three months of 2016 — a gain of 131%. Single family residential building activity accounted for most of March’s total with $1.139 million across 18 projects.

Greenwood also continued its strong start for 2017 with $5.02 million in values through the first three months of the year compared to $3.597 million during the same period of 2016, a gain of 39.5%. The year’s third month welcomed $2.422 million in valuations on 11 permits against $1.039 million in March 2016, a leap of 133.2%. Most activity came from the residential side with nine permits totaling $2.215 million.

REGIONAL BUILDING ACTIVITY RECAP
Combined total for the three cities
2016: $213.734 million (With 25% of the year complete, the 2017 YTD is at 27.93% of the 2016 total)
2015: $218.899 million
2014: $198.983 million
2013: $202.389 million
2012: $154.64 million
2011: $201.079 million
2010: $149 million
2009: $164 million

Fort Smith
2016: $187.675 million (With 25% of the year complete, the 2017 YTD is at 27.31% of the 2016 total)
2015: $191.631 million
2014: $174.252 million
2013: $185.057 million
2012: $136.248 million

Van Buren
2016: $15.328 million (With 25% of the year complete, the 2017 YTD is at 22.37% of the 2016 total)
2015: $16.009 million
2014: $7.918 million
2013: $8.283 million
2012: $8.609 million

Greenwood
2016: $10.731 million (With 25% of the year complete, the 2017 YTD is at 46.78% of the 2016 total)
2015: $11.259 million
2014: $16.813 million
2013: $9.049 million
2012: $9.983 million