Fort Smith metro building activity up 3% through August

by Aric Mitchell (aric.mitchell@gmail.com) 146 views 

Fort Smith metro building activity was up big in its smallest sectors for August, pushing what were negative year-to-date numbers into the black. Normally what happens in Fort Smith has too much weight for Greenwood and Van Buren to significantly move the needle. However, for the last 31 days, the two cities posted gains right around 300%.

As a result, the combined totals broke ahead for August and the year. For the month, building permits in the Fort Smith metro region – permits in Fort Smith, Greenwood and Van Buren – posted $24.109 million in values, a 1.63% improvement from August 2016’s $23.722 million. For the year, the gains were even better, clocking in at $143.835 million versus $139.668 million the previous year, a gain of 2.98%.

VAN BUREN, GREENWOOD
Van Buren witnessed the biggest impact with $3.22 million on 60 projects versus $739,453 in August of 2016. The result was a gain of 335.46%, thanks in large part to heavier residential building activity of $2.202 million on 16 individual projects.

Greenwood also performed well, logging $2.527 million against $670,237 the previous year. The biggest permit was on the public side in the amount of $1.708 million for the Greenwood EMS facility at 215 South Coker St. Petree Construction was the winning bid out of six vying for the contract when bids opened on Aug. 10. Greenwood’s overall gain for August was 277.03%.

On the year-to-date side, the two totals brought Van Buren to a 10.71% gain with $13.333 million against $12.043 million for the first eight months of 2016 and Greenwood to a 69.74% gain with $11.797 million against $6.95 million the previous year.

FORT SMITH
Fort Smith posted the largest volume for August with $18.362 million in values on 211 permits, but the total was 17.7% shy of August 2016’s $22.313 million performance. The damage is less on the YTD side, but still in the red with $118.705 million for the first eight months of 2017 against $120.675 million the previous year.

Most of Fort Smith’s August building activity came on the commercial side with $10.46 million in values on 47 permits. Roughly $8 million of the total was with new construction and remodels spread across 19 permits. The largest-ticketed item was a new construction permit in the amount of $2.6 million for Star Mechanical at 5401 S. Zero St.. The location is the site of the former USA Metals facility, which closed in February.

The city’s building department also lists a $1.603 million project at the downtown First National Bank of Fort Smith and a $1.096 million permit at Spartan Logistics. Both projects are remodels.

REGIONAL BUILDING ACTIVITY RECAP
Combined total for the three cities
2016: $213.734 million (With 66.67% of the year complete, the 2017 YTD is at 67.3% 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 66.67% of the year complete, the 2017 YTD is at 63.25% 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 66.67% of the year complete, the 2017 YTD is at 87% 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 66.67% of the year complete, the 2017 YTD is at 109.93% of the 2016 total)
2015: $11.259 million
2014: $16.813 million
2013: $9.049 million
2012: $9.983 million

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