Commercial Jobs Slumped Significantly in 2008
by January 26, 2009 12:00 am 80 views
The number of commercial construction projects under way in 2008 fell sharply from the previous year (see a pdf of the list by clicking here.)
There were 25 projects, valued at $5 million or more, under construction in 2007 for a total of $1.37 billion. In 2008, there were 11 projects under construction, valued at $4.5 million or more, for a total of $440 million.
The largest project on the list is the Mountain Ranch development in Fayetteville, a 460-acre residential and commercial project valued at $300 million.
The multi-phase development, located north of Sixth Street in West Fayetteville, is being developed by Coco Mountain Ranch LLC of Little Rock.
Based on square footage, most of the largest commercial projects under way in 2008 were in Fayetteville.
The five largest projects have a total of 736,666 SF, with 459,000 being built in Fayetteville, or about 62 percent, and 277,666 being built in Rogers.
The largest project based on square footage is Hill Place, a student housing development in Fayetteville with 380,000 SF.