{"id":507728,"date":"2021-06-29T09:33:09","date_gmt":"2021-06-29T13:33:09","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/harbor-custom-development-inc-acquires-219-acres-for-14300000-in-vancouver-bc-metro-market\/"},"modified":"2021-06-29T09:33:09","modified_gmt":"2021-06-29T13:33:09","slug":"harbor-custom-development-inc-acquires-219-acres-for-14300000-in-vancouver-bc-metro-market","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/harbor-custom-development-inc-acquires-219-acres-for-14300000-in-vancouver-bc-metro-market\/","title":{"rendered":"Harbor Custom Development, Inc. Acquires 219 acres for $14,300,000 in Vancouver BC Metro Market"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">Gig Harbor, Washington , June  29, 2021  (GLOBE NEWSWIRE) &#8212; Harbor Custom Development, Inc. (NASDAQ: HCDI, HCDIP, HCDIW) (\u201cHarbor,\u201d \u201cHarbor Custom Homes\u00ae,\u201d or the \u201cCompany\u201d), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced that it has acquired 219 acres for $14,300,000 adjacent to the Semiahmoo resort in Blaine, Washington (https:\/\/www.semiahmoo.com\/) and approximately 39 miles from Vancouver, British Columbia.\u00a0 <\/p>\n<p align=\"justify\">Vancouver, British Columbia, with a metro market population of 2,700,000, is just over an hour&#8217;s drive from the Horizon subdivision. The U.S.-Canadian border has been closed for non-essential travel because of Covid 19 since March 2020. The Canadian government announced on June 21 that, beginning July 5, the border will re-open for fully vaccinated travelers. \u201cWe are excited to enter the Vancouver BC metro market allowing Harbor to offer our residential product to both U.S. and Canadian buyers. Expanding our Washington state footprint into Whatcom County is a natural progression of our strategy to provide housing in suburbs that are a commutable distance to a core job market,\u201d stated Sterling Griffin, President and CEO of Harbor Custom Homes. \u201cOnce the border reopens, we believe it will put substantial pressure on the limited inventory of available housing in Blaine, located in Whatcom County, Washington, and provide us a significant and unprecedented housing opportunity,\u201d further stated Sterling Griffin.<\/p>\n<p align=\"justify\">The 219 acres consists of 71 residential lots with water views previously developed and approved in the Horizon at Semiahmoo subdivision, an additional 75 to 80 proposed but undeveloped view lots in Horizon division 2, and 37 adjacent acres anticipated to generate 80 residential lots of which approximately 20 are expected to have frontage on the Semiahmoo golf course. \u201cUpon completion of development, the acquisition of the Horizon subdivision and associated property provides us the flexibility to sell finished lots with panoramic views of Birch Bay and the Cascade Mountains or build out the subdivisions with homes with an expected price range of $600,000 to $1,000,000,\u201d stated Jeff Habersetzer, Chief Operating Officer. <\/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. 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=3KQDScLZBhVZbgPsDKseOrJyTqYiIFSjLvnsiSHYJ8gA_9f_KrUhND0NE290oJoYn1MWqMOS5ZgSt7m3z6ZaxIMC1IzVqUnQWvczq0U6XTM=\" 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=ODI3MjA0NyM0MjczNzQzIzUwMDA3MzA2OQ==\" width=\"1\" height=\"1\" \/><br \/>\n      <br \/>\n      <img loading=\"lazy\" decoding=\"async\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/ml.globenewswire.com\/release\/track\/9d1ceff4-4303-4c58-aae0-968e965a3bb3\" 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 , June 29, 2021 (GLOBE NEWSWIRE) &#8212; Harbor Custom Development, Inc. (NASDAQ: HCDI, HCDIP, HCDIW) (\u201cHarbor,\u201d \u201cHarbor Custom Homes\u00ae,\u201d or the \u201cCompany\u201d), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced that it has acquired 219 acres for $14,300,000 adjacent to the Semiahmoo resort in Blaine, Washington (https:\/\/www.semiahmoo.com\/) and approximately 39 miles from Vancouver, British Columbia.\u00a0 Vancouver, British Columbia, with a metro market population of 2,700,000, is just over an hour&#8217;s drive from the Horizon subdivision. The U.S.-Canadian border has been closed for non-essential travel because of Covid 19 since March 2020. The Canadian government announced on June 21 that, beginning July 5, the border will re-open &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/harbor-custom-development-inc-acquires-219-acres-for-14300000-in-vancouver-bc-metro-market\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Harbor Custom Development, Inc. Acquires 219 acres for $14,300,000 in Vancouver BC Metro 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-507728","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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(NASDAQ: HCDI, HCDIP, HCDIW) (\u201cHarbor,\u201d \u201cHarbor Custom Homes\u00ae,\u201d or the \u201cCompany\u201d), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced that it has acquired 219 acres for $14,300,000 adjacent to the Semiahmoo resort in Blaine, Washington (https:\/\/www.semiahmoo.com\/) and approximately 39 miles from Vancouver, British Columbia.\u00a0 Vancouver, British Columbia, with a metro market population of 2,700,000, is just over an hour&#8217;s drive from the Horizon subdivision. The U.S.-Canadian border has been closed for non-essential travel because of Covid 19 since March 2020. The Canadian government announced on June 21 that, beginning July 5, the border will re-open &hellip; Continue reading &quot;Harbor Custom Development, Inc. 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