February building permits up almost 8% in the Fort Smith metro

Building activity in the Fort Smith metro continued to rise in February, though building slowed a bit from the start of the year. February building permit values were up 7.9% in the three regional cities compared to the same time last year.

Building permits in Fort Smith, Greenwood, and Van Buren totaled $13.81 million in February, down 58.5% from $33.31 million issued in the three cities in January but up 7.9% from $12.8 million reported in February 2024.

Year-to-date, the three cities have seen $47.12 million in permitted building projects, up 89.1% from $24.92 million permitted in the first two months of 2024.

Fort Smith issued 176 permits in February with a value of $12.72 million, up 25% from the $10.17 million value of 206 permits issued in February 2024.

There were three permits issued for new residential construction of single-family homes in the city in February with a value of $430,000, down 78.5% from the $2 million value of 11 new residential construction permits issued in February 2024.

Along with new single-family homes in residential construction, building activity in Fort Smith got a boost from seven new duplex construction projects with a value of $2.45 million, which was down 75.4% from the $9.98 million value of 28 new duplex projects started in January. There were 48 permits issued for new duplex construction in all of 2024 with a value of $17.07 million.

There was one permit for new commercial construction during the month, a new $150,000 car lot to be located at 6200 Highway 71 S., owned by Barbara Mendez of Fort Smith. That is a 91.2% decline from the $1.7 million value of two new commercial construction projects permitted in February 2024.

The largest commercial construction projects of the month were for Fort Smith Public Schools (FSPS): $1.59 million for reroofing the district’s service center at 3205 Jenny Lind Road and $996,255 for reroofing Orr Elementary School at 3609 Phoenix Ave., said Allan Marshall, chief communications and engagement officer for FSPS.

VAN BUREN, GREENWOOD
Van Buren, the region’s second largest city, had 44 projects permitted in February with a value of $962,600, down 31.3% from the $1.4 million value of 65 projects permitted in February 2024.

The city issued five permits for residential construction with a value of $547,000, a 38.6% decrease from the $891,000 value of six residential projects permitted in February of the previous year.

There was one commercial permit issued in February with a value of $13,600, down 97% from the $511,000 value of four commercial projects permitted in February 2024. The city had $2.27 million in permitted activity since the first of the year, a 4.2% decrease from $2.37 million permitted in January and February 2024.

Greenwood issued 13 permits in February with a combined value of $127,448, a 32.3% decrease from the $188,250 value of nine projects permitted in February 2024. In the first two months of the year, the city issued building permits with a value of $1.28 million, down 53% from $2.74 million through February 2024.

Fort Smith, Greenwood, and Van Buren building permit values in 2024 totaled $271.09 million, a 45% decline from $492.29 million in 2023. That was the first year since 2017 that regional building activity has declined.

REGIONAL BUILDING ACTIVITY RECAP
Combined total for the three cities
2024: $271.09 million
2023: $520.64 million
2022: $480.37 million
2021: $343.28 million
2020: $265.97 million
2019: $241.74 million
2018: $231.78 million
2017: $210.84 million
2016: $211.34 million
2015: $218.89 million
2014: $198.98 million