Fort Smith metro building activity up 59% through February

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