Fort Smith metro building permit values up 65.4% in March

Fort Smith, Greenwood and Van Buren had a combined $32.871 million in building permits in March, up 65.4% from the $19.879 million issued by the cities in March 2021. The value is down 63.8% from $90.808 million in February but above the $30.554 million in January.

At $136.894 million, year-to-date building activity is more than double the first quarter 2021 values of of $64.29 million.

Fort Smith issued 195 permits in March with a value of $24.87 million, a drop of 32.6% from the $36.873 million value of 134 permits issued in February but up 45.8% from the $17.06 million on 205 permits issued in March 2021. During the first quarter of 2022, Fort Smith issued $90.252 million in building permits, up 70% from the $53.09 million in building permits issued in the first three months of 2021.

There were 19 permits issued for new residential construction in the month with a value of $2.962 million, down 21.8% from the $3.785 million value of 22 permits issued in February and down 15.4% from the $3.5 million combined value of 16 new residential construction permits issued in March 2021.

There were five new commercial construction permits in March with a value of $16.53 million, a 474% increase from the $2.86 million value of 4 new commercial projects in March 2021. There was only one new commercial construction project permitted in February with a value listed at $175,000. However, Mercy Fort Smith received a permit for $13.25 million for an addition at 7301 Rogers Ave., last month for the beginning of construction of a $162.5 million expansion of the Mercy Hospital that will focus on new emergency room and intensive care unit (ICU) areas, and parking. Mercy received a permit for a $3.465 million new construction project connected with this expansion in March.

Other new commercial construction projects permitted in March, include two $2.2 million convenience store projects in the Fianna Hills area. Two new Circle K convenience stores were permitted at 9811 State Highway 253 and 4101 Brooken Hill Drive. There was also a permit issued for a $3.57 million First Western Bank project at 3914 Massard Drive and $5 million permitted for the construction of a new RV Park at 1701 Riverfront Drive.

The permit for the park indicated the work was for fill and grade. Richard Griffin with Griffin Properties announced plans for the RV park early last year. The 27-acre park will be located just south of 330 acres the city purchased from Kansas City Southern Railroad Company for soft surface trails. The initial plans include 107 paved RV parking spaces, 12 tent spaces, a swimming pool, restroom facilities and a playground. It will have a park-like setting and also will include a manager residence that will have an apartment, office and retail space.

VAN BUREN, GREENWOOD PROJECTS
Van Buren, the region’s second largest city, issued 87 permits in March with a value of $6.774 million, an 80.7% decrease from the $35.014 million value of the 43 permits issued in March but a 222.6% increase from the $2.1 million value of 83 permits issued in March 2021.

The monthly activity included five residential permits with a value of $395,000, a 37.89% decrease from the $636,000 value of four residential projects permitted in February and a 73.3% decrease from the $1.48 million combined value of residential projects permitted in March 2021.

On the commercial side, there were five projects with a combined value of $6.325 million. While that’s an 81.58% decrease from the $34.337 million value of three commercial projects last month, it’s a significant increase from the $517,000 value of commercial projects permitted in March 2021. Included in the projects are two for the Van Buren School District – a $1.945 million new gym at Northridge Middle School, 120 Northridge Drive, and a $3.36 million indoor softball and band practice facility at Van Buren High School, 2001 Pointer Trail. Both projects are with Beshears Construction Inc. A $850,000 new Dollar General was also permitted at 617 Parkview St. by Van Tassle-Proctor Construction of Little Rock.

Year to date, Van Buren has had $43.644 million in permitted building activity, a 377.5% increase from the $9.14 million in the first quarter of 2021.

Greenwood also had a good month, issuing 15 permits with a combined value of $1.527 million, an 18.7% increase from the 11 permits issued in February and an 89% increase from the $807,976 value of 17 permits issued in March 2021. January through March has seen $2.998 million total permitted valuation in Greenwood, a 44.9% increase from the $2.069 in building permits issued the first three months of last year.

The region ended 2021 with $343.289 million in permitted building activity, a 29% increase over the $265.975 million in 2020. The Fort Smith metro has seen continuous growth over the  past several years, but no recent year has performed as well in building activity as 2021 with all three of the larger cities in the region seeing an increase in building numbers from 2020.

REGIONAL BUILDING ACTIVITY RECAP
Combined total for the three cities
2021: $343.289 million
2020: $265.975 million
2019: $241.741 million
2018: $231.78 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