Fort Smith subway construction activity rebounds in June
After a slower May, construction activity in the Fort Smith area rebounded in June. Fort Smith, Greenwood and Van Buren had a combined value of $22.549 million in permits, up 28% from $17.609 million in May and 90% from $11.87 million in June 2021.
The region’s year-to-date total is $199.07 million, up 28% from the combined $157.85 million value of permits issued in the region’s largest cities. metropolitan in the first half of 2021.
Fort Smith issued 668 permits in June worth $19.382 million, up 24.4% from the $15.591 million value of the 568 permits issued in May and a 73.4% increase over compared to the $11.181 million value of the 237 permits issued in June 2021.
In the first six months of this year, Fort Smith issued $139.982 million in building permits, up 3.48% from the $135.271 million issued through June 2021.
In June, 20 permits were issued for new residential construction worth $3.592 million, up 31.3% from the $2.62 million value of the 18 new residential construction permits issued last month, but down 31.3% from the $5.23 million value of the 38 new residential permits. published in June 2021.
A new commercial building permit was issued in June for the Circle K convenience store at 3120 Jenny Lind, valued at $1.26 million. This is the third Circle K authorized this year. Two new Circle K convenience stores were authorized in March, one at 9811 Highway 253 and 4101 Brooken Hill Drive. Jimmie Deer, director of building services for the city of Fort Smith, said a fourth Circle K has been planned but has not yet been authorized.
New commercial construction was down 31.9% from the $1.85 million value of four new commercial construction projects in 2022, but significantly higher than in June 2021, when no new building permits commercial has been issued.
Along with new commercial construction last month, major renovation projects were authorized: a $1.176 million project at 6201 Rogers Ave. for the facelift with three rental spaces at the former Logan’s Roadhouse; a $1 million project at 7720 Rogers Avenue for a 7Brew café; and $1 million to continue the renovation of the former Golden Living building at 1000 Fianna Way.
It was announced in June that Chipotle Mexican Grill will open in Fort Smith later this year as part of a multi-tenant redevelopment of the former Logan’s Roadhouse restaurant on the northeast corner of Rogers Avenue and Interstate 540 Eric Nelson, brokerage director and vice president for Little Rock-based Moses Tucker Partners, confirmed with Talk Business & Politics that the restaurant company has signed a lease for the Fort Smith space. Nelson said the approximately 10,500 square foot building will be gutted inside and a new facade will be constructed. The development cost is around $2 million, Nelson said.
VAN BUREN, GREENWOOD WINS
Van Buren, the region’s second-largest city, issued 72 permits in April with a combined value of $1.357 million, down 26.81% from the $1.854 million value of 81 permits issued in May, but a 136% increase from the $575,000 million value of the 216 permits issued in June 2021.
The city issued 6 residential permits in June worth $997,000, a 99% drop from the $1.077 million value of the 19 residential permits issued in May, but a 90% increase from $524,000 worth of residential permits issued in June 2021.
There was $240,000 in authorized commercial activity during the month, down 58.32% from the $575,800 authorized commercial construction in May, but 96 times the $2,500 authorized commercial construction in June 2021. Year-to-date, Van Buren has had $52.229 million in licensed activity. , a 198.98% increase from the $17.469 million reported in the first half of 2021.
Greenwood issued five permits in May with a combined value of $1.8 million, more than 11 times more than the $162,765 value of 16 permits issued in May and about 16 times more than the $111,946 value $9 permits issued in June 2021. Among the permits issued was a $1.318 million new commercial project for storage buildings at 2509 W. Center St. Greenwood’s cumulative total of $6.851 million since the start of the year is 34.2% higher than the $5.106 million in permit values issued in the first six 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 been as strong 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