{"id":470582,"date":"2021-04-05T07:03:32","date_gmt":"2021-04-05T11:03:32","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=470582"},"modified":"2021-04-05T07:03:32","modified_gmt":"2021-04-05T11:03:32","slug":"harbor-custom-development-inc-contracts-to-purchase-80-unit-condominium-site-in-tacoma-washington-expanding-first-time-home-buyer-footprint","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/harbor-custom-development-inc-contracts-to-purchase-80-unit-condominium-site-in-tacoma-washington-expanding-first-time-home-buyer-footprint\/","title":{"rendered":"Harbor Custom Development, Inc. Contracts to Purchase 80 Unit Condominium Site in Tacoma, Washington Expanding First-Time Home Buyer Footprint"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">Gig Harbor, Washington , April  05, 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 entered into a purchase and sale agreement for the acquisition of approximately 1.85 acres of land in Tacoma, Washington for $2,000,000. The purchase is expected to close on or before May 22, 2021.<\/p>\n<p align=\"justify\">Located less than ten minutes to downtown Tacoma\u2019s urban core job market, the 80 condominiums will cater to first-time home buyers searching for affordable options in the robust Tacoma area housing market. Harbor anticipates the 1 and 2 Bedroom units will be priced between $300,000 and $400,000 and fill a significant need in the local marketplace. Tacoma has been one of the strongest housing markets in the nation over the past two years and, in January 2021, as reported by Redfin, was the fastest selling market in the country. (<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=tjdLk3KrCBvqRMDKzBKmPqfXfNGNOnn9NSAly-f7yBn-dNZ1Q9vpGVSnZ9R1iLa3OPz0vYcZNAuwv-Vi3GErh4oo7FNdibihPz-b-EJMLMXkAeQUlhIddC2pUyut7To7ljrdSg4sCMLePulo4k-ZdRU9DalUQ6rC2qVGYzWX4bt5Ff6qAYXFH0VjDMPDCMym5vSNhLmu1tT6gIE4obJu9Epb-BTW9pkWvmFHygi9FRAzjuPZAv7Zq-NxB3LGlPQR\" rel=\"nofollow noopener noreferrer\" target=\"_blank\"><u>Redfin puts Tacoma No. 1 for fastest selling housing market | Tacoma News Tribune (thenewstribune.com)<\/u><\/a><u>.)<\/u><\/p>\n<p align=\"justify\">Sterling Griffin, President and CEO of Harbor, stated, \u201cTacoma represents an ideal location for Harbor Custom Homes\u00ae to increase our Western Washington footprint and address the significant need for affordable housing in Tacoma. As home prices continue to escalate due to record low inventory levels, first-time homebuyers are often priced out of the market. We are directly addressing this fundamental gap in the marketplace and believe offering condominiums priced below $400,000 in Tacoma creates an excellent growth opportunity for the Company while providing a highly desirous product for first-time homebuyers.\u201d\u00a0 <\/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, sales, and management of various residential projects in Western Washington\u2019s Puget Sound region; Sacramento, California; and Austin, Texas. Harbor 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 will begin constructing homes in two new markets beginning the second quarter of 202. Those markets are the Dark Horse Golf Course community 50 miles Northeast of Sacramento and established subdivisions approximately 22 miles from Austin, located in Driftwood and Dripping Springs, Texas. \u00a0Harbor 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=pMVoQMkKWziam_B1lOkNKqV0PAIr_hq-ermAW-q1M1e4es80CkS_UNXL1BRwuPhZ0d55X-LIqLoiBYmzAtNRU73w7IQvX-sBghspnnGNqzc=\" 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=ODIxMTM1OCM0MTA1NDY4IzUwMDA3MzA2OQ==\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/d58057dc-3cae-46ec-84ae-4ef7850bca8c\" 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 05, 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 entered into a purchase and sale agreement for the acquisition of approximately 1.85 acres of land in Tacoma, Washington for $2,000,000. The purchase is expected to close on or before May 22, 2021. Located less than ten minutes to downtown Tacoma\u2019s urban core job market, the 80 condominiums will cater to first-time home buyers searching for affordable options in the robust Tacoma area housing market. Harbor anticipates the 1 and 2 Bedroom units will be priced &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/harbor-custom-development-inc-contracts-to-purchase-80-unit-condominium-site-in-tacoma-washington-expanding-first-time-home-buyer-footprint\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Harbor Custom Development, Inc. Contracts to Purchase 80 Unit Condominium Site in Tacoma, Washington Expanding First-Time Home Buyer Footprint&#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-470582","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. Contracts to Purchase 80 Unit Condominium Site in Tacoma, Washington Expanding First-Time Home Buyer Footprint - 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-contracts-to-purchase-80-unit-condominium-site-in-tacoma-washington-expanding-first-time-home-buyer-footprint\/\" \/>\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. Contracts to Purchase 80 Unit Condominium Site in Tacoma, Washington Expanding First-Time Home Buyer Footprint - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Gig Harbor, Washington , April 05, 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 entered into a purchase and sale agreement for the acquisition of approximately 1.85 acres of land in Tacoma, Washington for $2,000,000. The purchase is expected to close on or before May 22, 2021. Located less than ten minutes to downtown Tacoma\u2019s urban core job market, the 80 condominiums will cater to first-time home buyers searching for affordable options in the robust Tacoma area housing market. Harbor anticipates the 1 and 2 Bedroom units will be priced &hellip; Continue reading &quot;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 entered into a purchase and sale agreement for the acquisition of approximately 1.85 acres of land in Tacoma, Washington for $2,000,000. The purchase is expected to close on or before May 22, 2021. Located less than ten minutes to downtown Tacoma\u2019s urban core job market, the 80 condominiums will cater to first-time home buyers searching for affordable options in the robust Tacoma area housing market. Harbor anticipates the 1 and 2 Bedroom units will be priced &hellip; Continue reading \"Harbor Custom Development, Inc. Contracts to Purchase 80 Unit Condominium Site in Tacoma, Washington Expanding First-Time Home Buyer Footprint\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/harbor-custom-development-inc-contracts-to-purchase-80-unit-condominium-site-in-tacoma-washington-expanding-first-time-home-buyer-footprint\/","og_site_name":"Market Newsdesk","article_published_time":"2021-04-05T11:03:32+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIxMTM1OCM0MTA1NDY4IzUwMDA3MzA2OQ==","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/harbor-custom-development-inc-contracts-to-purchase-80-unit-condominium-site-in-tacoma-washington-expanding-first-time-home-buyer-footprint\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/harbor-custom-development-inc-contracts-to-purchase-80-unit-condominium-site-in-tacoma-washington-expanding-first-time-home-buyer-footprint\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Harbor Custom Development, Inc. 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