Area building permit values see big gain in August

A jump in the permit value of commercial construction projects in Fort Smith helped fuel a 196% increase in overall August permit values in Fort Smith, Greenwood and Van Buren.

During August, permit values in the three cities soared to $26.534 million, up compared to the August 2010 period. The July gain was primarily the result of a more than 268% 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 eight months of 2011, Fort Smith permit values total $140.128 million, up 75.77% compared to the $79.718 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:
• 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
• May permit of $1 million for repair work at Kohl’s Department Store in Fort Smith.

Fort Smith officials issued total permits valued at $23.533 million, up 268% compared to August 2010. The monthly total was boosted by $3.49 million in permits for new home construction — compared to $2.933 million in August 2010.

During August the commercial pace increased, with the city issuing commercial permits valued at $17.745 million, up considerably compared to the $1.708 million in August 2010. Driving the increase was a $7.969 million permit for work at Chaffin Junior High School, a $3.1 million permit for work on the new Smith Nissan dealership in south Fort Smith and a 1.6 million permit for work at Baldor Electric Co.

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 eight months total $5.292 million, well below the $10.511 million for the same period in 2010. A slowdown in new home construction in Greenwood has pushed permitting activity below the 2010 pace.

During August, the city issued permits totaling $806,215 in value, down from $1.721 in August 2010. The city issued $628,215 in new residential permits during August, down from the $1.715 million in August 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 eight months of 2011 the permit values total $8.679 million, significantly below the $21.873 million during the 2010 period.

During August, the city issued permits with a combined value of $2.194 million, well above the $861,150 issued in August 2010. Of the permits issued in August, $1.951 million 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.