{"id":452363,"date":"2021-03-08T07:03:25","date_gmt":"2021-03-08T12:03:25","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=452363"},"modified":"2021-03-08T07:03:25","modified_gmt":"2021-03-08T12:03:25","slug":"harbor-custom-development-inc-acquires-48-acres-in-belfair-washington-for-3915000","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/harbor-custom-development-inc-acquires-48-acres-in-belfair-washington-for-3915000\/","title":{"rendered":"Harbor Custom Development, Inc. Acquires 48 Acres  in Belfair, Washington for $3,915,000"},"content":{"rendered":"<h2>\nContinues the Company\u2019s Residential Expansion in (North) Mason County<br \/>\n<\/h2>\n<div class=\"mw_release\">\n<p align=\"justify\">Gig Harbor, Washington , March  08, 2021  (GLOBE NEWSWIRE) &#8212; Harbor Custom Development, Inc. (\u201cHarbor,\u201d \u201cHarbor Custom Homes\u00ae,\u201d or the \u201cCompany\u201d), (NASDAQ: HCDI), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced that it has closed on 48 acres currently in the entitlement process for 144 undeveloped lots located in Belfair, Washington. \u00a0The purchase price for the acquisition was $3,915,000. <\/p>\n<p align=\"justify\">The Belfair site, known as Olympic Ridge, represents Harbor\u2019s expansion into (North) Mason County, which is adjacent to Kitsap County, where Harbor continues to develop numerous single-family residential communities as it has over the last six years. \u00a0Belfair is approximately 20 minutes from the Kitsap Naval Base, a major contributor to a robust defense economy with approximately 40,000 employees tied to the military and defense industry in the area. Harbor\u2019s current plans for the site would result in the largest new single-family subdivision constructed in Mason County in the last decade.\u00a0 Harbor plans to begin site development work on the 144-lot subdivision beginning in the second quarter of 2021.<\/p>\n<p align=\"justify\">\u201cBelfair offers families traditional suburban and rural settings for home ownership while providing the convenience of a short commute to major employment opportunities. \u00a0The Olympic Ridge property is only a 20-minute commute to downtown Bremerton and the west coast\u2019s largest Naval Base, and 45 minutes to downtown Tacoma, Washington. \u00a0When you combine the record low inventory in the Seattle\/Tacoma Metro market with the pandemic induced urban flight to the less populated bedroom communities like Belfair, the metrics for a successful residential project are very compelling,\u201d stated Sterling Griffin, President and CEO of Harbor Custom Development, Inc. <\/p>\n<p>\n        <strong>About Harbor Custom Development, Inc.<\/strong>\n      <\/p>\n<p align=\"justify\">Harbor Custom Development, Inc. is a real estate development company involved in all aspects of the land development cycle including land acquisition, entitlements, construction of project infrastructure, home building, marketing, and sales of various residential projects in Western Washington\u2019s Puget Sound region, Sacramento, California, and Austin, Texas. \u00a0Harbor has active or recently sold-out residential communities in Gig Harbor, Bremerton, Silverdale, Bainbridge Island, and Allyn in the state of Washington. In addition, Harbor has acquired land and expects to begin constructing homes in the two new markets of the Dark Horse Golf Course community 50 miles northeast of Sacramento, California and established subdivisions approximately 22 miles from Austin, located in Driftwood and Dripping Springs, Texas, beginning in the second quarter of 2021.\u00a0 Harbor Custom Development\u2019s business strategy is to acquire and develop land strategically based on an understanding of population growth patterns, entitlement restrictions, infrastructure development, and geo-economic forces.\u00a0 Harbor focuses on real estate within target markets with convenient access to metropolitan areas that are generally characterized by diverse economic and employment bases and increasing populations.\u00a0 For more information on Harbor Custom Development, Inc., please visit <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=itr67Cc6hp4y8DvFGxk-DXu5aDxoqQ1-02lOgt6J-aZGBXI23GbpYfYVxQkBjlteWG-2qHKFwAmF9E94lJw9e7-vjzho_z4h9-e8jUD4wwo=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>www.harborcustomdev.com<\/u><\/a><u>.<\/u><\/p>\n<p align=\"justify\">\n        <strong>Forward-Looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">Certain statements in this press release constitute \u201cforward-looking statements\u201d within the meaning of the federal securities laws. \u00a0Words such as \u201cmay,\u201d \u201cmight,\u201d \u201cshould,\u201d \u201cbelieve,\u201d \u201cexpect,\u201d \u201canticipate,\u201d \u201cestimate,\u201d \u201ccontinue,\u201d \u201cpredict,\u201d \u201cforecast,\u201d \u201cproject,\u201d \u201cplan,\u201d \u201cintend\u201d or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements.\u00a0 These forward-looking statements are based upon current estimates and assumptions.\u00a0 While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release.\u00a0 These forward-looking statements are subject to various risks and uncertainties, including without limitation those set forth in the Company\u2019s filings with the Securities and Exchange Commission.\u00a0 Thus, actual results could be materially different.\u00a0 The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.<\/p>\n<p>      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODE4NTYyOSM0MDUxNzM4IzUwMDA3MzA2OQ==\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/fed64b38-e69e-4915-bd44-81088bd7ee68\" width=\"1\" height=\"1\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\">\n<pre>Investor Relations\r\nHanover International\r\nIR@harborcustomdev.com\r\n866-744-0974 \r\n<\/pre>\n<\/p><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Continues the Company\u2019s Residential Expansion in (North) Mason County Gig Harbor, Washington , March 08, 2021 (GLOBE NEWSWIRE) &#8212; Harbor Custom Development, Inc. (\u201cHarbor,\u201d \u201cHarbor Custom Homes\u00ae,\u201d or the \u201cCompany\u201d), (NASDAQ: HCDI), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced that it has closed on 48 acres currently in the entitlement process for 144 undeveloped lots located in Belfair, Washington. \u00a0The purchase price for the acquisition was $3,915,000. The Belfair site, known as Olympic Ridge, represents Harbor\u2019s expansion into (North) Mason County, which is adjacent to Kitsap County, where Harbor continues to develop numerous single-family residential communities as it has over the last six years. \u00a0Belfair is approximately 20 &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/harbor-custom-development-inc-acquires-48-acres-in-belfair-washington-for-3915000\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Harbor Custom Development, Inc. Acquires 48 Acres  in Belfair, Washington for $3,915,000&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-452363","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Harbor Custom Development, Inc. Acquires 48 Acres in Belfair, Washington for $3,915,000 - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/harbor-custom-development-inc-acquires-48-acres-in-belfair-washington-for-3915000\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Harbor Custom Development, Inc. Acquires 48 Acres in Belfair, Washington for $3,915,000 - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Continues the Company\u2019s Residential Expansion in (North) Mason County Gig Harbor, Washington , March 08, 2021 (GLOBE NEWSWIRE) &#8212; Harbor Custom Development, Inc. (\u201cHarbor,\u201d \u201cHarbor Custom Homes\u00ae,\u201d or the \u201cCompany\u201d), (NASDAQ: HCDI), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced that it has closed on 48 acres currently in the entitlement process for 144 undeveloped lots located in Belfair, Washington. \u00a0The purchase price for the acquisition was $3,915,000. The Belfair site, known as Olympic Ridge, represents Harbor\u2019s expansion into (North) Mason County, which is adjacent to Kitsap County, where Harbor continues to develop numerous single-family residential communities as it has over the last six years. \u00a0Belfair is approximately 20 &hellip; Continue reading &quot;Harbor Custom Development, Inc. 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