Multi-family construction boosts Greenwood building activity

Greenwood, a suburb of Fort Smith known for relative strength in new home construction, is seeing a new segment of residential construction boost building permit values.

The city issued 48 permits for construction valued at $7.54 million during the first six months of 2009, a impressive value increase of 65.3% compared to the 62 permits valued at $4.56 million in the same period of 2008. For all of 2008, the city issued 117 permits for construction valued at $11.9 million.

Duplex and apartment construction is a big reason for the increase. The city issued 5 permits for duplex/apartment projects valued at $1.68 million in the first half of 2008, nearing the $1.79 million total for all of 2008.

A big piece of the 2009 activity came from two duplexes, valued at $337,230 each, to be built at 1320 Clinic Lane by Bransen Harris Properties. Those permits were issued in January.

However, the traditional single-family home construction continues to do well in Greenwood. The first half of 2009 saw 24 new home permits with a construction value of $3.52 million, a value increase of 1.4% over the 25 new home permits and construction value of $3.47 million for the same period of 2008. For all of 2008, the city issued 48 single-family new home permits with a construction value of $7.006 million.

FORT SMITH, VAN BUREN INFO
The city of Fort Smith issued 334 building permits in June for work totaling $11.89 million, down more than 49% from the busy May 2008 activity resulting from hail and wind storm damage.

The city of Van Buren issued 53 permits in June with a total value of $1.6 million, up more than 10% in value over the 48 permits issued in May.