August building permit values up 4% in the region, down more than 15% year-to-date

by Tina Alvey Dale (tdale@talkbusiness.net) 196 views 

Building activity in Fort Smith, Van Buren and Greenwood totaled an impressive $28.115 million in August, a 62% increase from July’s $17.348 million and a 4% increase from the $27.053 million in August 2018.

Year-to-date, the region is looking at $136.276 million in building activity, down 15.3% from the January to August 2018 number of $160.865 million.

Fort Smith had a busy month in August with 270 permits with a total value of $25.342 million, up 77% from July’s $14.287 million and up 102% from $12.521 million in August 2018.

New building in commercial and residential flourished in the month. New commercial permits came in at $5.382 million in August, which included a $4.9 million new hotel project at 7111 Phoenix Ave. The permit was issued to developer Marion Driscoll Construction Aug. 21 and the hotel is expected to be completed in 2020.

New residential permit values totaled $6.79 million for the month, a more than 330% increase from July’s $1.57 million. This included construction in four housing additions in Fort Smith: the River Crossing addition on Dallas Street; the Wynchase subdivision on Veterans Avenue in Chaffee Crossing and the Haven subdivision on Wildwood Way and the Park Haven addition in the same area at the bottom of Fianna Hills.

Van Buren, the region’s second largest city, issued 68 permits in August totaling $1.743 million, down 35% from July’s $2.697 million, and down 88% from August 2018’s $14.198 million. The August total included $1.391 million on 8 residential permits and $210,600 on three commercial permits. July’s total included $1.348 million on 11 residential permits and $1.344 on seven commercial permits. For the first eight months of 2019, Van Buren stands at $11.56 million in permitted building activity, down 62.7% from the $30.958 million in the same period of 2018.

Greenwood had six permits in August totaling $1.03 million up 183% from the $363,828 on five permits in July. Year to date, Greenwood has logged $6.171 million against $4.706 through August 2018, an increase of 31%.

REGIONAL BUILDING ACTIVITY RECAP
Combined total for the three cities
2018: $211.463 million
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
2018: $187.678 million
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
2018: $17.629 million
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
2018: $6.156 million
2017: $15.23 million
2016: $10.235 million
2015: $11.259 million
2014: $16.813 million
2013: $9.049 million
2012: $9.983 million

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