August construction activity in the Fort Smith metro declined after a busy July, but activity for the year is well ahead of that time in 2021. The year-to-date total at Fort Smith, Greenwood and Van Buren is $315.723 million, up 38.9% from $227.31 million in the same period of 2021.
The three cities had a permit value of $28.513 million in August, down 35.9% from $44.46 million in August 2021 and down 67.7% from the $88.152 million total value permits in July.
Fort Smith issued 491 permits in August worth $24.896 million, down 70% from the $82.934 million value of the 616 permits issued in July and down 39.4% from the value of $41.08 million from the 187 permits issued in August 2021. , Fort Smith issued $247.812 million in building permits, up 24.8% from $198.631 million issued in the first eight months of 2021.
Five permits were issued for new residential construction in August, worth $2.03 million, down 39.5% from the $3.356 million value of the five new residential construction permits issued in July, but up 30.97% from $1.55 million in August 2021.
New commercial construction slowed in Fort Smith last month with just three permits issued for new projects worth a combined $6.64 million, down 76.9% from the $28.712 million value. dollars from the five new commercial construction projects authorized in July and down 69.4% from $21.73 million. value in August 2021.
New commercial construction projects included a new $4.692 million American Pain Center at 8306 Massard Creek Court and a $1.373 multi-tenant building at 3106 74th St. Jesse Bennet with the City of Fort Smith said that KMW Properties had not specified what would go into the commercial building, but there will be rental space for three different tenants.
The building permit for Fort Smith’s first Whataburger at 8120 Phoenix Ave. was also issued in August. The Fort Smith Board of Directors has approved a rezoning application for the $573,213 fast-food restaurant that will offer both drive-in and indoor dining on July 12. No specific opening date has been announced, but Robert Tanner, who oversees operations for WAB Venture, said the plan is to open in late fall.
VAN BUREN, GREENWOOD WINS
Van Buren, the region’s second-largest city, issued 135 permits in August with a combined value of $2.831 million, down 35.4% from the $4.382 million value of the 114 permits issued in July and up 9.27% from the $2.59 million value of the 99 permits issued in August of last year.
The city issued $1.888 million in residential building permits during the month, down 56.2% from the $4.382 million in residential permits in July and down 23.9% from the 2.48 million of residential permits in August 2021. The city had $503,000 in commercial building permits compared to no commercial projects in July or August 2021. In the first eight months of the year, Van Buren has $59.442 million authorized activities, a 176% increase from the $21.519 million reported through August 2021.
Greenwood issued 12 permits in August with a combined value of $786,381, down 5.9% from the $836,002 value of 28 permits in July and down 0.94% from the value of $793,835 from 19 permits issued in August 2021. Among the permits issued was a permit for the construction of 10 new triplexes of 4,268 square feet per building on 10 lots at 1829 Linwood Drive with an allowable value of $480,000.
Greenwood’s year-to-date total of $8.473 million is 18.3% higher than the $7.164 million in value of permits issued in the first eight months of 2021.
The Fort Smith area ended 2021 with $343.289 million in authorized construction activity, up 29% from $265.975 million in 2020. Fort Smith Metro has seen continued growth in recent years , but no recent year has performed as well in construction activity as 2021, with the three largest cities in the region seeing an increase in the number of buildings from 2020.
SUMMARY OF REGIONAL CONSTRUCTION ACTIVITIES
Combined total for the three cities
2021: $343.289 million
2020: $265.975 million
2019: $241.741 million
2018: $231.78 million
2017: $210.844 million
2016: $211.345 million
2015: $218.899 million
2014: $198.983 million
2013: $202.389 million
2012: $154.64 million
2011: $201.079 million