Harbor Custom Development, Inc. (Nasdaq: HCDI, HCDIP, HCDIW, HCDIZ)
(“Harbor,” “Harbor Custom Homes®,” or the “Company”), an innovative
and market leading real estate company involved in all aspects of
the land development cycle, today announced it has closed on the
sale of 20 developed lots in its Horizon at Semiahmoo subdivision
in Blaine, Washington. to Noffke Homes for $3.8 million.
“We welcome Noffke Homes to the Horizon at
Semiahmoo project and look forward to working with them as one of
our select builders in this beautiful Horizon subdivision,” stated
Sterling Griffin, President and CEO of Harbor Custom Development,
Inc. “As a first-time partner with the Noffke Homes team, we
believe their unique home designs, along with their thoughtful
floor plans, meticulous level of quality and standard of luxury,
makes them a wonderful addition to Horizon and to the greater
community of Blaine and Whatcom County.”
Noffke Homes is the first builder to close in
Phase 1 of Horizon and anticipates pre-sales to begin in the first
quarter of 2022. Potential homebuyers can expect to see the same
beautiful quality custom homes that Noffke has been known for since
the company launched in 2012—with cutting-edge designs built to
stand the test of time, both aesthetically and functionally.
Harbor acquired the 219-acre Horizon subdivision
in July 2021. The purchase included 71 developed lots with
panoramic views of Birch Bay, the Cascade Range and situated
adjacent to the iconic Semiahmoo Resort and award-winning golf
course. “This project provides HCDI the opportunity to help
alleviate the significant shortage of residential housing in
Whatcom County,” stated Jeff Habersetzer, Chief Operating Officer
of Harbor Custom Development, Inc.
About Harbor Custom Development, Inc.
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's
Puget Sound region; Sacramento, California; Austin, Texas and Punta
Gorda, Florida. Harbor has active or recently sold-out residential
communities in Gig Harbor, Bremerton, Silverdale, Bainbridge
Island, Belfair, Allyn, Port Orchard, Lacey, Burien, Yelm and
Blaine in the state of Washington. In addition, Harbor has acquired
land and will begin constructing homes in three 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.
The Company recently acquired property in Punta Gorda, Florida, and
plans to begin construction of oceanfront condominiums there in
2022. Harbor Custom Development's 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. For
more information on Harbor Custom Development, Inc., please
visit www.harborcustomdev.com.
About Noffke Landholdings, Inc.
Noffke Landholdings, Inc. is a branch of Noffke Homes focused on
land acquisition and development, in order to create exclusive
cutting-edge home designs tailored to the uniqueness of each
community. Noffke is committed to quality and takes part in the
Master Builders Association of Pierce County, Kitsap Building
Association, Cheers energy efficiency, and National Association of
Home Builders. With a business focus on quality of materials,
research, integrity and efficiency, Noffke Homes has doubled their
growth in all sectors of the Real Estate market from 2019-2021.
Noffke’s primary developments have been primarily in Pierce County,
Washington since 2012, where they’ve implemented over 14 different
floor plans,150+ single family homes and countless styles, being
the first in its class to bring new design eliminates towards the
growth of this territory. They not only offer residential real
estate within Peirce County but will be expanding into commercial
space projects in late 2022. Noffke is eager to have the
opportunity to continue this growth by partnering with Harbor
Custom Development in the Horizon at Semiahmoo Master Plan
Community, located in Blaine Washington. “Harbor Custom Development
exemplified key visionary skills in the success for this community,
captivating our attention and eagerness to partner within them in
this juncture, and we’re excited to see what the future holds,”
expressed Matthew Noffke, President and CEO of Noffke Landholdings
Inc. Noffke is ready to break ground January 2022, in the Horizon
Community showcasing their sought-after single family residential
homes. For more information and to see upcoming projects please
visit www.noffkehomes.com
Forward-Looking Statements
Certain statements in this press release
constitute “forward-looking statements” within the meaning of the
federal securities laws. Words such as “may,” “might,”
“should,” “believe,” “expect,” “anticipate,” “estimate,”
“continue,” “predict,” “forecast,” “project,” “plan,” “intend” or
similar expressions, or statements regarding intent, belief, or
current expectations, are forward-looking statements. These
forward-looking statements are based upon current estimates and
assumptions. 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. These
forward-looking statements are subject to various risks and
uncertainties, including without limitation those set forth in the
Company’s filings with the Securities and Exchange
Commission. Thus, actual results could be materially
different. 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.
Investor Relations
Hanover International
IR@harborcustomdev.com
866-744-0974
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