{"id":469459,"date":"2021-04-01T07:03:21","date_gmt":"2021-04-01T11:03:21","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=469459"},"modified":"2021-04-01T07:03:21","modified_gmt":"2021-04-01T11:03:21","slug":"harbor-custom-development-inc-sells-50-lots-to-lennar-for-7000000","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/harbor-custom-development-inc-sells-50-lots-to-lennar-for-7000000\/","title":{"rendered":"Harbor Custom Development, Inc. Sells 50 Lots to Lennar for $7,000,000"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">Gig Harbor, Washington , April  01, 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 the phase 6 sale of 50 residential lots at Soundview Estates in Bremerton, Washington to Lennar Northwest, Inc., a subsidiary of the Lennar Corporation (\u201cLennar\u201d), for $7,000,000. <\/p>\n<p align=\"justify\">Harbor has now announced the completion of infrastructure improvements on 240 lots at Soundview Estates, of which 215 were purchased by Lennar for single family home construction. Lennar had previously closed on phases 1, 2, 3, &amp; 5 totaling 165 lots during the last 15 months. Harbor Custom Homes\u00ae is currently building 25 homes in Phase 4. <\/p>\n<p align=\"justify\">Upon completion of improvements, Soundview Estates will grow to a 339-lot subdivision offering spectacular views of the Olympic Mountains, Mt. Rainier, the Seattle Skyline, and Puget Sound. Soundview Estates is a short ten-minute drive to downtown Bremerton, the Seattle Ferry, and the Kitsap Naval Shipyard.<\/p>\n<p align=\"justify\">Soundview Estates can be seen at: <u>\u00a0<\/u><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=gnYTuaHdpyhu7xBSl228BcjT6D7JGSonBolStM3MegU2TOnD5Tt_PAtgOgiivXhZAReKq-L0tFTX-nndgJWYj5Tzp7l_xYx04umqv9OvaPg=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>https:\/\/vimeo.com\/453127877<\/u><\/a><u>.<\/u><\/p>\n<p align=\"justify\">\u201cWe are excited to complete this transaction with Lennar and look forward to closing 99 additional lots in phase 7 with Lennar during the second quarter of this year. \u00a0Lennar has done a tremendous job at Soundview Estates and we anticipate they will continue to build high quality single family homes that capture the beauty of this unique setting,\u201d stated Sterling Griffin, President and CEO of Harbor. <\/p>\n<p align=\"justify\">\n        <b>About Lennar Corporation<\/b>\n      <\/p>\n<p align=\"justify\">Lennar Corporation, founded in 1954, is one of the nation&#8217;s leading builders of quality homes for all generations. Lennar builds affordable, move-up, and active adult homes primarily under the Lennar brand name. Lennar&#8217;s Financial Services segment provides mortgage financing, title, and closing services primarily for buyers of Lennar&#8217;s homes and, through LMF Commercial, originates mortgage loans secured primarily by commercial real estate properties throughout\u00a0the\u00a0United States. Lennar&#8217;s Multifamily segment is a nationwide developer of high-quality multifamily rental properties. Len<sup>X<\/sup>\u00a0drives Lennar&#8217;s technology, innovation and strategic investments. For more information about Lennar, please visit www.lennar.com. <\/p>\n<p>\n        <b>About Harbor Custom Development, Inc.<\/b>\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, sales, and management of various residential projects in Washington State, California, and Texas.\u00a0 Harbor has active or recently sold-out residential communities in Gig Harbor, Bremerton, Silverdale, Bainbridge Island, and Allyn in the state of Washington. Harbor has also acquired developed lots and plans to begin constructing homes in the Sacramento and Austin metro markets beginning in the second quarter of 2021. The Darkhorse Golf Course community, located approximately 50 miles northeast of Sacramento in Auburn, California, and the La Ventana and Bunker Ranch subdivisions located approximately 22 miles from Austin, in Driftwood and Dripping Springs, Texas, are Harbor\u2019s newest locations. 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. 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=VN8akKu4ujBn0FRBlDSS5uFc_Ct9VmV8BoVoY_S1j1b2UrLUPjtEdQc1fWWXUiU5Ga_V43MI7iUYaxiWl0y15JKK2UthJvdYrXFV4VzpSaU=\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>www.harborcustomdev.com<\/u><\/a><u>.<\/u><\/p>\n<p align=\"justify\">\n        <b>Forward-Looking Statements<\/b>\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.\u00a0 Words 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=ODIwOTkzNiM0MTAxNjc4IzUwMDA3MzA2OQ==\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/0654d231-13ff-4dda-a995-030401341f37\" 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>Gig Harbor, Washington , April 01, 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 the phase 6 sale of 50 residential lots at Soundview Estates in Bremerton, Washington to Lennar Northwest, Inc., a subsidiary of the Lennar Corporation (\u201cLennar\u201d), for $7,000,000. Harbor has now announced the completion of infrastructure improvements on 240 lots at Soundview Estates, of which 215 were purchased by Lennar for single family home construction. Lennar had previously closed on phases 1, 2, 3, &amp; 5 totaling 165 lots during the last 15 months. Harbor &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/harbor-custom-development-inc-sells-50-lots-to-lennar-for-7000000\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Harbor Custom Development, Inc. Sells 50 Lots to Lennar for $7,000,000&#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-469459","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.5 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Harbor Custom Development, Inc. 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(\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 the phase 6 sale of 50 residential lots at Soundview Estates in Bremerton, Washington to Lennar Northwest, Inc., a subsidiary of the Lennar Corporation (\u201cLennar\u201d), for $7,000,000. Harbor has now announced the completion of infrastructure improvements on 240 lots at Soundview Estates, of which 215 were purchased by Lennar for single family home construction. Lennar had previously closed on phases 1, 2, 3, &amp; 5 totaling 165 lots during the last 15 months. Harbor &hellip; Continue reading &quot;Harbor Custom Development, Inc. 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