January building activity posts big gains in the Fort Smith metro

The year got off to a good start in terms of building activity in the Fort Smith region. The region issued $38.699 million in building permits in January’s 31 days, a 349% jump from January 2019’s $8.625 million.

Fort Smith issued 150 permits with a $32.5 million valuation. That’s a 37% drop from December’s $51.5 million on 162 permits, but a 322% increase from the $7.7 million on 148 permits issued in January 2019.

Fort Smith posted $25.91 million in new commercial construction in January, up 47% from December’s $17.55 million. Three big construction projects – The Dermatology Center at 7900 Dallas St. ($1.85 million for fill and grade only); Armstrong Bank at 4102 Rogers Ave. ($3.5 million); and Mercy Rehab Hospital at 6700 Chad Colley Blvd. ($20.6 million) — made up that new construction total.

On the residential side, Fort Smith issued $1.6 million in new construction permits, a 66% drop from December’s $4.9 million and a 9.4% dip from January 2019’s $1.8 million.

Van Buren, the region’s second largest city, had a strong month too with 40 permits issued valuing at $5.81 million, a more than 1,200% increase from January 2019, which saw $444,500 on 136 permits, and a 476% increase from December, which had $1.009 million on 49 permits. Van Buren’s total includes $4.428 million in commercial construction and $1.33 million in residential construction, compared to $24,900 in commercial construction and $955,000 in residential in December. The Van Buren branch of the Fort Smith Dialysis Center at 256 Northridge Drive is responsible for $4 million of the commercial construction.

Greenwood had permit values of $391,554 in January, down 54% from December’s $856,689 on nine permits and 18% from January 2019’s $479,120 on four permits.

Building activity in the Fort Smith region ended 2019 ahead of 2018 thanks to a flurry of building in Fort Smith in the final 30 days of the year. The region ended the year with $238.752 million in permitted building activity, a 3% increase from 2018’s $231.78 million and a 13% increase from 2017’s $210.844 million.

REGIONAL BUILDING ACTIVITY RECAP
Combined total for the three cities
2019: $238.752 million
2018: $231.780 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
2019: $204.008 million
2018: $187.678 million
2017: $169.958 million
2016: $185.783 million
2015: $191.631 million
2014: $174.252 million

Van Buren
2019: $27.731 million
2018: $37.946 million
2017: $19.665 million
2016: $15.327 million
2015: $16.009 million
2014: $7.918 million

Greenwood
2019: $7.013 million
2018: $6.156 million
2017: $15.23 million
2016: $10.235 million
2015: $11.259 million
2014: $16.813 million