Fort Smith metro permits down almost 74% through February

Building permits in Fort Smith, Greenwood and Van Buren totaled $11.769 million in February, down 8.1% from the $12.804 million value of permits issued in January, and down 73% from the $43.352 million reported in February 2023.

Year-to-date the region has issued permits for building activity valued at $24.926 million, 73.6% less than the $94.442 million of the first two months of 2023.

Fort Smith issued 206 permits in February with a value of $10.179 million, up 9.7% from the $9.283 million value of 138 permits issued in January, but down 71.6% from the $35.817 million value of 333 permits issued in February of last year. Year-to-date Fort Smith has reported $19.461 million in building projects, down 76.9% from the $84.253 million reported in the first two months of 2023.

There were 11 permits issued for new residential construction in February with a value of $2 million, which is down 27% from the $2.752 million value of eight new residential construction projects permitted in January and down 75% from the $8.036 million value of 22 new residential construction projects permitted in February 2023.

There were two permits issued for new commercial construction in February with a combined value of $1.7 million, which was a significant increase from the $165,000 permit for one new commercial project in January. There were no new commercial construction projects permitted in February last year, though there was significant commercial construction that month.

New construction includes a $1 million Dollar General at 2725 Market Trace and $700,000 for a new Transitional Living House for women at 3823 Armour Ave., which will be one of the recovery avenues of Harbor House, Inc. A $1.309 million detached storage building for Owens Coring at 5530 Planters Road was also permitted in February.

Harbor House, Inc. is a behavioral health agency “dedicated to providing hope and healing for those suffering from addiction,” according to its website. It offers men’s, women’s and outpatient services. Harbor House received the funds to build the women’s transitional house from former Gov. Asa Hutchinson before he left office at the end of 2022, said Carl Norris, CEO of Harbor House.

In December, Harbor House began a $5 million addition to its alcohol and drug rehab facility at 615 N. 19th St. That project will include a complete renovation of the 114-year-old building that has been the men’s residential treatment facility for over 50 years.

VAN BUREN AND GREENWOOD
Van Buren, the region’s second largest city, had 65 projects permitted in February with a value of $1.402 million, a 44.6% increase from the $969,500 value of 58 projects permitted in January, but an 80% decline from the $7.006 million value of 65 projects permitted in February 2023.

The city issued six permits for residential construction with a value of $891,000, a 69.7% increase from the $525,000 value of three permits issued last month but down 76% from the $3.76 value of 21 residential housing permits issued in February of last year.

There were four commercial permits issued in the month with a value of $511,000, up 19.8% from the $426,500 value of two commercial permits issued in January but down 70% from the $1.71 million value of three commercial permits issued in February 2023.

The city has had $2.372 million in permitted activity in the first two months of 2024, down 72.8% from the $8.716 million through February 2023.

Greenwood issued nine permits in February with a value of $188,250, a drop of 93% from the $2.552 million value of 19 permits issued in January and down 64.4% from the $529,396 value of 11 permits issued in February 2023. In the first two months of the year, the city issued building permits with a value of $2.74 million, up 83% from the $1.494 million through February 2023.

The Fort Smith metro ended 2023 with issued building permits totaling $520.644 million, 8.4% more than the $480.376 million in 2022 – a year that saw all three cities posting significant gains. Building activity has continued to show gains in the past few years, with 2023’s total up 51.7% from 2021’s $343.289 million and 95.7% up from 2020’s $265.975 million.

REGIONAL BUILDING ACTIVITY RECAP
Combined total for the three cities
2023: $520.644 million
2022: $480.376 million
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