Area building permit values up in February

BusinessFort SmithNews on the Wire

by The City Wire staff ([email protected]) March 12, 2012 11:23 am 79 views 

Building permit values in Fort Smith, Greenwood and Van Buren, combined to total $7.04 million in February, up slightly compared to the $6.796 million tally in February 2011.

The February gain in area building activity was an improvement of a little more than 3% from last year, and was largely due to increased residential activity in Greenwood and Van Buren.

FORT SMITH
The city of Fort Smith issued 197 permits during February with a total value of $5.271 million, down 51.85% compared to the $10.949 million in January. The number also fell from February 2011’s $5.929 million.

The nine new residential permits issued by the city totaled $1.952 million, up from the February 2011 value of $1.795 million for 10 new home permits.

Commercially, the city issued $2.056 million in permits. Approved were three for new construction, valued at $440,000. The remaining $1.616 million was for 23 permits covering the addition, alteration, and repair of existing commercial buildings.

GREENWOOD
Greenwood’s February valuation nearly doubled its intake from January 2012 and from February of last year, which clocked in at $275,120 and $269,920, respectively.

Permits issued last month in Greenwood posted a total value of $535,315. New home construction accounted for $500,415 of the final tally, split among two permits.

VAN BUREN
Van Buren issued 34 permits and improved to $1.232 million in valuations, up from $569,700 in February 2011, but down considerably from $2.050 million last month.

Residential construction permits for new construction bounced back, after a drought in January 2012. Of February’s $1.232 million, $551,660 (12 permits) were for single family residential and $505,000 (4 permits) were for new construction on duplex projects.

2011 RECAP
Building permit values in the three cities during 2011 totaled $201.079 million, up close to 34.47% compared to $149.529 million in 2010. In 2011, Fort Smith officials issued permits valued at $179.228 million, compared to $109.941 million in 2010.

For the year, Greenwood officials issued permits valued at $9.461 million, down close to 48.18% over the $18.258 million in 2010.

Van Buren officials issued building permits valued at $12.39 million in 2011, down approximately 41.19% compared to $21.33 million in 2010.