Fort Smith metro building activity up 59% through February
by March 7, 2017 3:32 pm 323 views
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Fort Smith, Van Buren, and Greenwood, posted building permit value gains through the first two months of 2017 compared to the same period last year. Overall the three cities added $36.76 million in permits against 2016’s $23.118 million valuation through February, a gain of 59%.
Fort Smith led the way, though not to the extent of its 84% gain in January. Arkansas’ second largest city posted $17.125 million in permit values for the month, up 52.7% compared with $11.214 million in February 2016.
Most of the month’s activity landed on the commercial side with $12.08 million logged on 34 permits. The residential side was a distant second, adding $3.715 million in valuations on 117 permits. The largest individual line items fell on the commercial side with two in particular topping $4 million. The largest was a new construction permit for $4.641 million issued to Evangel Temple Worship Center. A close second was a $4.2 million permit issued to The Eye Group clinic. Rounding out, New Life Church on South Dallas Street added a $1.85 million permit.
For the first two months of the year, Fort Smith posted $32.662 million in permit values against $19.263 million for the same period last year, a 69.5% increase.
VAN BUREN, GREENWOOD
Van Buren stayed above water for the first two months of the year, posting a 15.8% gain with a cumulative total of $1.501 million against $1.297 million in 2016. However, February saw a steep drop of 62.1%, adding just $427,200 in valuations compared to $1.126 million during the same period last year, but it was not enough of a drop to blot out January’s 628% gain – $1.074 million in January vs. $171,000 in January 2016.
Greenwood outperformed its larger neighbor with $2.598 million in values through the first two months of the year compared to $2.558 million during the same period of 2016, a gain of 1.5%. February welcomed $1.745 million in valuations on six permits against $1.27 million in February 2016, a leap of 37.5%. The increase was large enough to eclipse a 33.8% decline from January.
REGIONAL BUILDING ACTIVITY RECAP
Combined total for the three cities
2016: $213.734 million (With 16.67% of the year complete, the 2017 YTD is at 17.2% of the 2016 total)
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
2016: $187.675 million (With 16.67% of the year complete, the 2017 YTD is at 17.4% of the 2016 total)
2015: $191.631 million
2014: $174.252 million
2013: $185.057 million
2012: $136.248 million
Van Buren
2016: $15.328 million (With 16.67% of the year complete, the 2017 YTD is at 9.8% of the 2016 total)
2015: $16.009 million
2014: $7.918 million
2013: $8.283 million
2012: $8.609 million
Greenwood
2016: $10.731 million (With 16.67% of the year complete, the 2017 YTD is at 24.21% of the 2016 total)
2015: $11.259 million
2014: $16.813 million
2013: $9.049 million
2012: $9.983 million