Fort Smith metro building activity up over 58% through first quarter of 2017
by April 3, 2017 8:02 pm 363 views
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Fort Smith, Van Buren, and Greenwood, posted building permit value gains through the first three months of 2017 compared to the same period last year. Overall the three cities added $59.697 million in permits against 2016’s $37.64 million valuation through March, a gain of 58.5%.
Fort Smith led the way – not to the extent of its 84% January gain but a bit better than the 52.7% bump from February. Arkansas’ second largest city posted $18.586 million in permit values for the month, compared with $13.298 million in March 2016.
Most of the month’s activity landed on the commercial side with $13.138 million logged on 45 permits. The residential portion was a distant second, adding $3.125 million in valuations on 163 permits.
The largest individual line items fell on the commercial side with four seven-figure permits in particular topping $10.563 million. Glatfelter Advanced Materials at Chaffee Crossing took out two of three for remodels in the amounts of $4.949 million and $2.07 million. Another $2.144 million was issued to Patterson & Dewar Engineers for work at 3117 State Line Road, the site of trucking company T’s Transport. The smallest of the Big Four was a $1.4 million line item to Harness Roofing for a major roof repair at 4411 Midland Boulevard, Building 4, the site of Georgia Pacific-Dixie Products.
For the first three months of the year, Fort Smith posted $51.248 million in permit values against $32.561 million for the same period last year, a 57.4% increase.
VAN BUREN, GREENWOOD
Van Buren boosted its overall numbers with a strong March performance. Up until its approximately 940% gain last month, the city was barely staying above water, posting just a 15.8% improvement for the first two months of the year with a cumulative total of $1.501 million against $1.297 million in 2016. That changed over the last 31 days, however, with $1.928 million in valuations against $185,700 during the same period last year. This brought overall totals to $3.429 million year-to-date against $1.483 million through the first three months of 2016 — a gain of 131%. Single family residential building activity accounted for most of March’s total with $1.139 million across 18 projects.
Greenwood also continued its strong start for 2017 with $5.02 million in values through the first three months of the year compared to $3.597 million during the same period of 2016, a gain of 39.5%. The year’s third month welcomed $2.422 million in valuations on 11 permits against $1.039 million in March 2016, a leap of 133.2%. Most activity came from the residential side with nine permits totaling $2.215 million.
REGIONAL BUILDING ACTIVITY RECAP
Combined total for the three cities
2016: $213.734 million (With 25% of the year complete, the 2017 YTD is at 27.93% 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 25% of the year complete, the 2017 YTD is at 27.31% 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 25% of the year complete, the 2017 YTD is at 22.37% 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 25% of the year complete, the 2017 YTD is at 46.78% of the 2016 total)
2015: $11.259 million
2014: $16.813 million
2013: $9.049 million
2012: $9.983 million