{"id":484020,"date":"2021-04-29T07:04:50","date_gmt":"2021-04-29T11:04:50","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/harbor-custom-development-inc-contracts-to-acquire-31-acres-for-4750000-in-austin-metro-housing-market\/"},"modified":"2021-04-29T07:04:50","modified_gmt":"2021-04-29T11:04:50","slug":"harbor-custom-development-inc-contracts-to-acquire-31-acres-for-4750000-in-austin-metro-housing-market","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/harbor-custom-development-inc-contracts-to-acquire-31-acres-for-4750000-in-austin-metro-housing-market\/","title":{"rendered":"Harbor Custom Development, Inc. Contracts to Acquire 31 Acres for $4,750,000 in Austin Metro Housing Market"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">Gig Harbor, Washington , April  29, 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 contracted to acquire 31 acres of commercial property for $4,750,000 in West Horseshoe Bay, Texas, located approximately 53 miles from Austin.\u00a0 \u00a0<\/p>\n<p align=\"justify\">The acquisition includes a 2,800 square foot office building that Harbor Custom Homes plans to utilize for its design, marketing and sales center serving the Austin metro market.\u00a0\u00a0 Harbor anticipates rezoning most of the property from commercial to residential use in the third quarter of 2021. Following the rezone, Harbor plans to provide a variety of single family product ranging from 1,800 to 2,400 square feet cottages and villas, as well as 4,000 to 5,000 square feet creek side homes on estate lots. Home buyers in the development will have the opportunity for membership at the Horseshoe Bay Resort <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=1kLdbVxCAJ9lunrg4WlxRthM73fCfYBq9umCCCpss6yWdbvTkbPvXTJ0jUMP36v9ttg1C9AhuQdhfJK91IYwKbBGy9r2mY_d8V4GkMOv0PU=\" rel=\"nofollow noopener\" target=\"_blank\"><u>(clubhsbresort.com)<\/u><\/a> providing access to resort facilities including three golf courses, multiple clubhouses, yacht club, lake facilities, and access to a private jet center with a 6,000-foot lighted runway. Horseshoe Bay has seen rapid growth because of Austin\u2019s expanding employment base and the subsequent migration of households to the Lake and Hill Country regions.<\/p>\n<p align=\"justify\">\u201cAcquiring this property not only provides Harbor Custom Homes with the opportunity for a great mix of residential product in the inventory starved Austin metro market but also offers the Company a regional office in a highly desirable destination resort location to serve Harbor\u2019s Austin based projects.\u00a0 Urban flight from Austin combined with decreasing inventory in the bedroom, rural and destination resort communities like Horseshoe Bay provide a great opportunity for our company,\u201d stated Sterling Griffin, President and CEO of Harbor Custom Homes. <\/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 in the second quarter of 2021. In the Sacramento metro market, Harbor will be constructing homes in completed subdivisions in both Rocklin and Auburn, California. In the Austin metro market, Harbor has acquired developed lot inventory in Dripping Springs, Driftwood, and Horseshoe Bay, Texas. 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=ITbQgysj7qnuN7USuC8Lmw_HSMkjN5EbezK1cEsB0W1zlk5jJ4WQ4tVgnXrAjTBPc7THgK3y7Qbt_dFu6ZV_t2rgQpmdmzKy8X6nY7wmHYI=\" rel=\"nofollow noopener\" 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=ODIyNjE2OSM0MTQ1OTAyIzUwMDA3MzA2OQ==\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/c02f148e-95ec-4cd3-98b2-825d8e2a104b\" 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 29, 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 contracted to acquire 31 acres of commercial property for $4,750,000 in West Horseshoe Bay, Texas, located approximately 53 miles from Austin.\u00a0 \u00a0 The acquisition includes a 2,800 square foot office building that Harbor Custom Homes plans to utilize for its design, marketing and sales center serving the Austin metro market.\u00a0\u00a0 Harbor anticipates rezoning most of the property from commercial to residential use in the third quarter of 2021. Following the rezone, Harbor plans to provide a &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/harbor-custom-development-inc-contracts-to-acquire-31-acres-for-4750000-in-austin-metro-housing-market\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Harbor Custom Development, Inc. Contracts to Acquire 31 Acres for $4,750,000 in Austin Metro Housing Market&#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-484020","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.3 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Harbor Custom Development, Inc. Contracts to Acquire 31 Acres for $4,750,000 in Austin Metro Housing Market - 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-acquire-31-acres-for-4750000-in-austin-metro-housing-market\/\" \/>\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 Acquire 31 Acres for $4,750,000 in Austin Metro Housing Market - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Gig Harbor, Washington , April 29, 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 contracted to acquire 31 acres of commercial property for $4,750,000 in West Horseshoe Bay, Texas, located approximately 53 miles from Austin.\u00a0 \u00a0 The acquisition includes a 2,800 square foot office building that Harbor Custom Homes plans to utilize for its design, marketing and sales center serving the Austin metro market.\u00a0\u00a0 Harbor anticipates rezoning most of the property from commercial to residential use in the third quarter of 2021. Following the rezone, Harbor plans to provide a &hellip; Continue reading &quot;Harbor Custom Development, Inc. 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Contracts to Acquire 31 Acres for $4,750,000 in Austin Metro Housing Market - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/harbor-custom-development-inc-contracts-to-acquire-31-acres-for-4750000-in-austin-metro-housing-market\/","og_locale":"en_US","og_type":"article","og_title":"Harbor Custom Development, Inc. Contracts to Acquire 31 Acres for $4,750,000 in Austin Metro Housing Market - Market Newsdesk","og_description":"Gig Harbor, Washington , April 29, 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 contracted to acquire 31 acres of commercial property for $4,750,000 in West Horseshoe Bay, Texas, located approximately 53 miles from Austin.\u00a0 \u00a0 The acquisition includes a 2,800 square foot office building that Harbor Custom Homes plans to utilize for its design, marketing and sales center serving the Austin metro market.\u00a0\u00a0 Harbor anticipates rezoning most of the property from commercial to residential use in the third quarter of 2021. Following the rezone, Harbor plans to provide a &hellip; Continue reading \"Harbor Custom Development, Inc. Contracts to Acquire 31 Acres for $4,750,000 in Austin Metro Housing Market\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/harbor-custom-development-inc-contracts-to-acquire-31-acres-for-4750000-in-austin-metro-housing-market\/","og_site_name":"Market Newsdesk","article_published_time":"2021-04-29T11:04:50+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=ODIyNjE2OSM0MTQ1OTAyIzUwMDA3MzA2OQ==","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-acquire-31-acres-for-4750000-in-austin-metro-housing-market\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/harbor-custom-development-inc-contracts-to-acquire-31-acres-for-4750000-in-austin-metro-housing-market\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Harbor Custom Development, Inc. 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