Regional building sector remains healthy

Construction continues to be a healthy sector of the Fort Smith regional economy, with building permit values in three key regional cities up more 33% for the year.

Building permits issued in Fort Smith, Greenwood and Van Buren totaled $9.553 million during November, up 18.06% compared to November 2010. For the first 11 months of 2011, the value of building permits in the three cities total $190.853 million, up 33.6% compared to the $142.872 million in the 2010 period.

Building permit values in the three cities during 2010 totaled $154.358 million, down 5.77% compared to $163.824 million in 2009.

FORT SMITH

Building permit values in Fort Smith during November totaled $6.224 million, down 19% compared to November 2010.

The month saw reduced values for commercial projects and significantly lower residential activity compared to the 2010 period. The largest commercial project permitted was for $750,000 in renovation to the Fianna Hills Nursing Center. A $500,000 permit was for work at Golden Living’s administrative center.

The city just four new home permits valued at $901,900, down compared to the 15 new home permits valued at $4.037 million during November 2010.

Permit activity for December is off to a promising start, with $4.326 million in projects permitted in the first 12 days of the month. Projects permitted in December include $1.702 million in construction for a convenience store/Dunkin Donuts at 7401 Phoenix Ave., and a a $1.491 million permit for construction of a Bob Evans restaurant in the Fort Smith Pavilion area.

During the first 11 months of 2011, permit values in Fort Smith totaled $166.992 million, up 62% compared to the 2010 period.

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

GREENWOOD

November permits issued in Greenwood totaled $1.978 million, a big gain over a November 2010 in which no permits were issued in the south Sebastian County city.

Leading the permit pack was residential construction, with five new home permits issued for a combined value of $1.107 million.

For the first 11 months of 2011, permit totals in Greenwood reached $9.313 million, down 42.1% compared to the same period of 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

Van Buren issued $1.351 million in permits during November, with $1.343 million for residential construction. The total was well ahead of the $403,220 in permit values during November 2010.

Permit totals in Van Buren for the first 11 months of 2011 were $14.547 million, down 38.6% compared to the 2010 period.

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.