Harbor Custom Development, Inc., CEO Shares Construction

TACOMA, Wash., Oct. 17, 2022 (GLOBE NEWSWIRE) — Harbor Custom Development, Inc. (Nasdaq: HCDI, HCDIP, HCDIW, HCDIZ) (“Harbor,” “Harbor Custom Homes®,” or the “Company”), an modern and market main actual property firm concerned in all facets of the land growth cycle, in the present day introduced an replace on six of the corporate’s multifamily initiatives.

In April of this 12 months, Harbor introduced a strategic pivot within the business specializing in the acquisition of land for the event and development of multifamily initiatives. This shift to multifamily started over a 12 months in the past within the Puget Sound Region of Western Washington.

Harbor Custom Development, Inc., CEO Sterling Griffin launched a brief video replace on the development progress of the six multifamily initiatives, “We’re excited to announce the Mills Crossing apartment community in Bremerton is now leasing units and Pacific Ridge, Wyndstone, and Belfair View apartments will all be leasing units as well in the next 60 days. We anticipate selling each of these upon completion and rental stabilization. To provide context the gross revenues from the planned sale of four of these projects in 2023 would likely exceed Harbor’s combined revenues for the past three years.”

Harbor listed these initiatives with Kidder Mathews for $278 million earlier this 12 months.

• Mills Crossing Townhomes
  • Bremerton, WA
  • 36 items
  • Now leasing
  • Estimated completion Q3 2022
• Belfair View Apartments
  • Belfair, WA
  • 228 items with an amenity constructing
  • Est. Completion
    • Phase one: This fall 2022
    • Phase two: Q2 2023
• Wyndstone Apartments
  • Yelm, WA
  • 76 items with an amenity constructing
  • Est. Completion This fall 2022
• Pacific Ridge Apartments
  • Tacoma, WA
  • 80 items with an amenity constructing
  • Est. Completion This fall 2022
• Meadowscape Apartments
  • Olympia, WA
  • 177 items with an amenity constructing
  • Est. Completion
    • Phase One Q1 2023
    • Phase Two: Q2 2023
• Bridgeview Trails Apartments
  • Port Orchard, WA
  • 138 items with an amenity constructing
  • Est. Completion This fall 2023

The firm often paperwork the development standing of those initiatives on the shows web page of the Investor Relations part of HarborCustomDev.com.

About Harbor Custom Development, Inc.
Harbor Custom Development, Inc. is an actual property growth firm concerned in all facets of the land growth cycle together with land acquisition, entitlements, development of mission infrastructure, dwelling and condominium constructing, advertising and marketing, and gross sales of varied residential initiatives in Western Washington’s Puget Sound area; Sacramento, California; Austin, Texas and Punta Gorda, Florida. As a land developer and builder of flats, and single-family luxurious houses, Harbor Custom Development’s business technique is to amass and develop land strategically based mostly on an understanding of inhabitants progress patterns, entitlement restrictions, infrastructure growth, and geo-economic forces. Harbor focuses on buying land with scenic views to develop and promote residential heaps, new dwelling communities, and multi-story condominium properties inside a 20 to 60-minute commute of the nation’s fastest-growing metro employment corridors. Harbor is main the actual property trade as the primary nationwide land developer and builder accepting fee within the type of cryptocurrency for its listed land, developed heaps, residential houses, and flats.

Forward-Looking Statements
Certain statements on this press launch represent “forward-looking statements” throughout the which means of the federal securities legal guidelines. Words resembling “may,” “might,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or related expressions, or statements concerning intent, perception, or present expectations, are forward-looking statements. These forward-looking statements are based mostly upon present estimates and assumptions. While the Company believes these forward-looking statements are affordable, undue reliance shouldn’t be positioned on any such forward-looking statements, that are based mostly on info out there to us on the date of this launch. These forward-looking statements are topic to numerous dangers and uncertainties, together with with out limitation these set forth within the Company’s filings with the Securities and Exchange Commission. Thus, precise outcomes might be materially completely different. The Company expressly disclaims any obligation to replace or alter statements whether or not on account of new info, future occasions or in any other case, besides as required by regulation.

Photo of Belfair View Apartments in Belfair, WA