Fort Smith metro building activity up more than 15% through June

Regional building activity for Fort Smith, Van Buren, and Greenwood enjoyed a modest gain following a breakthrough May that pushed the combined Fort Smith metro region to its first year-to-date increase of 2018.

In June, activity ticked upward 3.49% with $11.475 million in valuations against $11.088 million in June 2017. For the first half of 2018, the region is enjoying a 15.37% climb with $114.823 million against $99.528 million the previous year.

Leading the way is Fort Smith, the region’s largest city, which logged $10.239 million over the 30-day period, an increase of 29.36% when compared to June 2017’s $7.915 million. The tally came via 137 total permits. Around $4.789 million of that was on 28 commercial building permits. The commercial tally was led by a $1.5 million new construction permit at 12000 South U.S. 71, a new Casey’s General Store site, and a $1.28 million remodel at First United Methodist Church on 200 N. 15th St. Most of the remainder of valuations and permits came on the residential side with $4.456 million on 92, respectively.

Van Buren also continued to realize gains with $1.22 million on 41 projects in June against June 2017’s $1.175 million over 56 projects. Over half of the tally ($650,000) was a single commercial project for the new Planet Fitness location at 280 Cloverleaf Plaza. For the year, the region’s second-largest city has logged $14.009 million against $9.293 million through last June, a 50.75% increase.

The only down spot on the region’s half-year report card is Greenwood. Last June, the city benefitted from a $1.314 million permit at 923 West Center Street, its lone McDonald’s location. Even removing that item, it managed to pull in $684,000, mostly in residential activity. Over the last 30, it logged just $16,741 across three residential permits, a month-to-month decline of 99.16%. Furthermore, the performance did little to add to the year-to-date tally, inching the six-month total upward to $4.092 million against $8.4 million last year, a drop of 51.29% year-to-date.

REGIONAL BUILDING ACTIVITY RECAP
Combined total for the three cities
2017: $210.844 million
2016: $211.345 million
2015: $218.899 million
2014: $198.983 million
2013: $202.389 million
2012: $154.64 million
2011: $201.079 million
2010: $149 million
2009: $164 million

Fort Smith
2017: $169.958 million
2016: $185.783 million
2015: $191.631 million
2014: $174.252 million
2013: $185.057 million
2012: $136.248 million

Van Buren
2017: $19.665 million
2016: $15.327 million
2015: $16.009 million
2014: $7.918 million
2013: $8.283 million
2012: $8.609 million

Greenwood
2017: $15.23 million
2016: $10.235 million
2015: $11.259 million
2014: $16.813 million
2013: $9.049 million
2012: $9.983 million