Metro building permit values up 26.4% in May

Building activity in the Fort Smith region dropped in May, but as just as with April, monthly numbers stayed higher than the same time in 2019. The region issued permits valued at $13.59 million in May, down 61% from the $34.98 million in April. However, May’s regional total was a 26.4% increase from May 2019’s total of $10.73 million.

The region’s largest city, Fort Smith, issued 161 permits in May with a value of $9.26 million, a decrease of 72.5% from the $33.7 million on 175 permits issued in April and 2% less than $9.45 million on 153 permits in May 2019.

The city issued permits for $2.695 million in new commercial projects in May – the largest of which was $2.2 million for the new Aldi’s at 2201 S. Zero St. There were no permits issued for commercial projects in April. May’s new commercial permits were a 243% increase over May 2019, which only saw $786,000 in permits for new commercial projects.

On the residential side, things cooled a bit in May. The city issued $1.56 million in new residential construction permits, a 68% decrease from the $4.89 million issued in April and a 58.9% decrease from $3.807 million issued in May 2019 on new residential construction.

Things looked a little better in other areas of the region. Van Buren, the region’s second largest city, issued 53 permits valued at $1.24 million, a 1.6% decrease from the $1.26 million on 25 permits in April and a 34.6% increase from the $920,804 on 64 permits issued in May 2019. Van Buren’s total permit value for the month includes $1.2 million in residential construction, with no commercial construction. The remainder was for swimming pools. By comparison, there was $50,000 in commercial construction and $1.21 million in residential construction permits in April and $953,000 in commercial construction and $183,000 in residential construction permits in May 2019.

Greenwood issued 13 permits valued at $2.956 million in the private sector in May and one permit valued $111,315 in the public sector for a total of $3.07 million for the month. This is a dramatic increase from the $20,000 on three permits issued in April and a 758% increase from the $357,700 on five permits issued in May 2019. The public sector permit is for work to add classrooms and extra space at the high school basketball arena.

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