A review of commercial vacancies for July in Fayetteville showed an increasing presence of businesses leading to fewer empty buildings.
The retail vacancy rate for the second quarter of 2016 declined to 6.52 percent. That compares to the 7.98 percent rate in the first quarter, an 8 percent rate during the fourth quarter of 2015 and a 9.52 percent rate for the third quarter of 2015.
Office space also saw a decrease in vacancies, positioned at 12.82 percent for the second quarter of 2016. The rate was 12.87 percent for the first quarter of 2016 and at 12.96 percent for the last two quarters of 2015.
Industrial rate vacancies for the second quarter of 2016 was 5 percent, down from the 6 percent rate in the first quarter and the last two quarters of 2015.
The city’s overall vacancy rate for the second quarter of 2016 was 7.9 percent.
Fayetteville residents, or those traveling through the city recently, know there is a significant amount of construction activity occurring in different parts of town.
The numerous construction activities, whether commercial or residential, come with the required permits and associated fees. The city to date has received more than twice as much in inspection and infrastructure impact fees compared to the same period last year.
Through July, $416,471 in total fees were collected compared to $177,620 received during the same period last year.
A breakdown showed $226,927 collected in permits and inspection fees this year compared to $117,647 collected for the same period in 2015.
For impact fees, the $189,543 collected through July dwarfs the $59,972 collected for the same period last year.
