Regional building permit values up in September

Building activity in the Fort Smith region continues to pace well above 2010 levels with September permit values in Fort Smith, Greenwood and Van Buren totaling $10.543 million, up more than 36% compared to September 2010.

However, of the three cities, only Fort Smith has posted a year-to-date permit value gain.

FORT SMITH
For the first nine months of 2011, Fort Smith permit values total $148.128 million, up 69.8% compared to the $87.192 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. Employment at the plant was expected to be around 400 by the first quarter of 2012, but legal and market factors have resulted in a delay.

But even without the Mitsubishi permit, permit values in Fort Smith would be more than 37% above 2010 levels thanks to an overall increase in commercial construction activity. Some of those permits include $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.

Fort Smith officials issued total permits valued at $7.933 million, up 6.1% compared to September 2010. The monthly total was boosted by $2.853 million in permits for new home construction — compared to $2.971 million in September 2010.

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 nine months total $5.966 million, well below the $10.721 million for the same period in 2010. A slowdown in new home construction in Greenwood has pushed permitting activity below the 2010 pace.

During September, the city issued permits totaling $674,580 in value, down from $1.210 in September 2010. The city issued $539,580 in new residential permits during September, down slightly from the $590,275 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
Despite a jump in September activity, permit values for the first eight months of 2011 in Van Buren total $10.615 million, significantly below the $22.346 million during the 2010 period.

During September, the city issued permits with a combined value of $1.935 million, well above the $473,800 issued in September 2010. September marks the third consecutive month of gains compared to the 2010 period. Of the permits issued in September, $1.872 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.