Harbor Custom Development, Inc. Closes on $3.87M Sale of 27 Developed Lots to Century Communities
December 16 2021 - 8:30AM
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 27 developed lots in its Horizon at Semiahmoo subdivision
in Blaine, Washington, to Century Communities for $3.87 million.
Harbor acquired the 219-acre Horizon subdivision
in July 2021. The purchase included 71 developed lots with
panoramic views of Birch Bay and the Cascade Range and is situated
adjacent to the iconic Semiahmoo Resort and award-winning golf
course.
“We are thrilled to add Century Communities as
one of the selected builders for the Horizon at Semiahmoo project
and look forward to working with their team.” stated Sterling
Griffin, President and CEO of Harbor Custom Development, Inc. “As a
national public builder, Century Communities brings a wealth of
knowledge and experience building in planned unit subdivisions, and
we anticipate that they will be highly successful offering product
that meets the needs of the local Blaine, Whatcom County, and
Canadian communities.”
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 Century Communities
Century Communities, Inc. (NYSE: CCS) is a top
10 national homebuilder, offering new homes under the Century
Communities and Century Complete brands. Century is engaged in all
aspects of homebuilding — including the acquisition, entitlement
and development of land, along with the construction, innovative
marketing and sale of quality homes designed to appeal to a wide
range of homebuyers. The Colorado-based company operates in 17
states and over 40 markets across the U.S., and also offers title,
insurance and lending services in select markets through its
Parkway Title, IHL Home Insurance Agency, and Inspire Home Loans
subsidiaries. To learn more about Century Communities, please
visit www.centurycommunities.com.
Forward-Looking StatementsCertain
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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