Area building permit values up 23.6%

BusinessFort SmithNews on the Wire

by The City Wire staff ([email protected]) August 11, 2011 3:39 pm 57 views 

Building permit values in Fort Smith, Greenwood and Van Buren totaled $127.564 million during the first seven months of 2011, up 23.65% thanks in large part to gains in commercial construction permitted by the city of Fort Smith.

During July, permit values in the three cities soared to $14.864 million, up 73.76% compared to the July 2010 period. The July gain was primarily the result of a more than 84% gain in permit value in Fort Smith.

Of the three cities, only Fort Smith has posted year-to-date permit value gains.

FORT SMITH
For the first seven months of 2011, Fort Smith permit values total $116.595 million, up 58.93% compared to the $73.359 million in the 2010 period.

Most of the gain is the result of a $28.5 million permit for the construction of Mitsubishi’s wind-turbine assembly plant at Chaffee Crossing. But increased overall commercial construction activity has also boosted permit values. Other big-ticket commercial projects began in 2011 include a March permit of $4.2 million for work on Dick’s Sporting Goods store in the Fort Smith Pavilion mall, January permits of $700,000 for work at Sparks Regional Hospital and $500,000 to build space for a Sykes call center at the former Phoenix Village Mall, and a May permit of $1 million for repair work at Kohl’s Department Store in Fort Smith.

During July, the city issued total permits valued at $13.882 million, up 84.18% compared to July 2010. The monthly total was boosted by $2.6 million in permits for new home construction — compared to $1.878 million in July 2010 — and $9.219 million in commercial construction permits, compared to $4.104 million in July 2010.

Commercial projects permitted in July included $2.428 million for work at Sutton Elementary School and $2 million for the Garrison Pointe convenience store, market and cafe in downtown Fort Smith.

In 2010, Fort Smith officials issued permits valued at $114.77 million, compared to $138.946 million in 2009.

GREENWOOD
Permit values in Greenwood during the first seven months total $4.485 million, well below the $8.790 million for the same period in 2010. A slowdown in new home construction in Greenwood has pushed permitting activity below the 2010 pace.

During July, the city issues permits totaling only $146,315 in value, down from $879,110 in July 2010.

Greenwood officials in 2010 issued permits valued at $18.258 million, up 21.6% over the $15.008 million in all of 2009.

VAN BUREN
Permit totals are also down in Van Buren. For the first seven months of 2011 the permit values total $6.484 million, more than three times below the $21.012 million for the 2010 period.

During July, the city issued permits with a combined value of $836,200, well above the $138,700 issued in July 2010. Of the permits issued in July, $608,600 was for residential construction.

Van Buren officials issued building permits valued at $21.33 million in 2010, up 116% compared to all of 2009. The bulk of the 2010 permit value came from the $13.587 million permit for construction of the new King Elementary. Without the King permit, permit values would have declined 21.5% in 2010 compared to 2009.