California Builders Start Siloam Springs Projects

Two investors from California apparently have big plans for Siloam Springs.

Marty Lasater of Modesto, Calif., recently submitted plans for a 125-lot subdivision off Hico Road and another 144-lot neighborhood off Lawless Road.

The Hico Road project will feature 0.2-acre lots and homes ranging from 1,500-2,000 SF. The Lawless Road subdivision will have 0.17-acre lots and 1,200- to 1,500-SF homes.

Lasater, a contractor for 20-plus years in California’s “Central Valley,” said Northwest Arkansas has been a lot more developer friendly than his stomping ground. He’s got the 35-acre Lawless Road parcel under contract for purchase from Bob Owens for $235,000.

The other 35-acre parcel off of Hico road is under contract for purchase from James Butts for $372,000. Lasater and his brother, fellow Hico-project partner Derick Lasater, own Lasater Brothers Construction Co.

Lasater said he also plans to purchase a 246-acre ranch locally. He said he planned to do financing through Arvest Bank-Siloam Springs.

The other northwest Benton County developer is Roy Englebrecht of Newport Beach, Calif. He’s planning a 16-lot duplex development called Golden Eagle Estates.

Englebrecht is a John Brown University alum who ran for the Siloam Springs City Council in 1969 at the age of 23. College-buddy Skip Murphy of Murphy Construction Co. in Siloam Springs will be building the 1,200-SF duplexes.

Englebrecht recently bought the 3.6-acre tract of land off of Lake Francis Drive for the development from George Ellis for $89,900. He’s looking to finance through Arvest Bank, too.