JAT Finds Trouble Times

We’ve been hearing murmurs of trouble in the affordable housing market.

Jason Thomas, owner of JAT Builders 2007 LLC and JAT Homes LLC, and one of the area’s most prominent affordable housing builders, has been building homes in Sienna Estates, Riverwalk Farms and Laurenwood subdivisions in Bentonville, Deer Meadows subdivision in Pea Ridge and Cross Timbers subdivision in Cave Springs since early 2007.

But since the beginning of 2008, Thomas’ name has been appearing on more than mortgage deeds. According to filings at the Benton County Circuit Court, Thomas has been hit with more than 85 materialmans liens from project subcontractors, totaling more than $535,000, including a $59,840 lien from Hearth & Home Inc., which JAT was recently ordered to pay.

The legal filings have not seemed to slow the homebuilder. Since March 24, N.C. Nichols Construction LLC, the general contractor for JAT homes, has purchased 15 residential building permits, valued at more than $2.4 million.

We’ll keep you posted.