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Gig Harbor, Washington , April 29, 2021 (Globe NEWSWIRE) — Harbor Custom Growth, Inc. (“Harbor,” “Harbor Custom made Homes®,” or the “Company”), (NASDAQ: HCDI), an revolutionary and current market foremost authentic estate enterprise associated in all factors of the land progress cycle, right now declared that it has contracted to purchase 31 acres of industrial home for $4,750,000 in West Horseshoe Bay, Texas, positioned roughly 53 miles from Austin.
The acquisition consists of a 2,800 square foot workplace setting up that Harbor Custom made Homes strategies to use for its structure, marketing and gross sales centre serving the Austin metro market place. Harbor anticipates rezoning most of the home from business to household use in the 3rd quarter of 2021. Next the rezone, Harbor programs to deliver a range of one relatives item ranging from 1,800 to 2,400 square toes cottages and villas, as properly as 4,000 to 5,000 sq. toes creek side properties on estate tons. Household potential buyers in the improvement will have the chance for membership at the Horseshoe Bay Vacation resort (clubhsbresort.com) supplying accessibility to resort amenities like three golfing programs, multiple clubhouses, yacht club, lake amenities, and entry to a non-public jet heart with a 6,000-foot lighted runway. Horseshoe Bay has noticed fast progress mainly because of Austin’s expanding employment base and the subsequent migration of homes to the Lake and Hill State regions.
“Acquiring this property not only supplies Harbor Customized Homes with the opportunity for a good blend of household item in the inventory starved Austin metro market place but also presents the Enterprise a regional office in a extremely appealing vacation spot vacation resort area to provide Harbor’s Austin primarily based initiatives. City flight from Austin put together with lowering inventory in the bed room, rural and destination resort communities like Horseshoe Bay give a fantastic opportunity for our enterprise,” stated Sterling Griffin, President and CEO of Harbor Personalized Properties.
About Harbor Custom Improvement, Inc.
Harbor Personalized Growth, Inc. is a serious estate growth business concerned in all features of the land advancement cycle including land acquisition, entitlements, building of project infrastructure, household creating, marketing and advertising, income, and management of many residential assignments in Western Washington’s Puget Seem region Sacramento, California and Austin, Texas. Harbor has lively or lately offered-out residential communities in Gig Harbor, Bremerton, Silverdale, Bainbridge Island, and Allyn in the point out of Washington. In addition, Harbor has obtained land and will get started setting up homes in two new marketplaces starting in the next quarter of 2021. In the Sacramento metro sector, Harbor will be developing households in accomplished subdivisions in both equally Rocklin and Auburn, California. In the Austin metro market place, Harbor has obtained designed lot inventory in Dripping Springs, Driftwood, and Horseshoe Bay, Texas. Harbor Personalized Development’s business enterprise tactic is to obtain and acquire land strategically, based mostly on an being familiar with of population growth styles, entitlement restrictions, infrastructure advancement, and geo-financial forces. Harbor focuses on true estate inside concentrate on marketplaces with effortless entry to metropolitan locations that are frequently characterised by assorted financial and employment bases and growing populations. For far more data on Harbor Personalized Development, Inc., you should pay a visit to www.harborcustomdev.com.
Forward-On the lookout Statements
Specified statements in this push launch constitute “forward-searching statements” inside the meaning of the federal securities guidelines. Words this sort of as “may,” “might,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or comparable expressions, or statements with regards to intent, belief, or current anticipations, are ahead-searching statements. These ahead-seeking statements are primarily based on latest estimates and assumptions. Though the Firm thinks these forward-searching statements are affordable, undue reliance must not be placed on any this sort of ahead-hunting statements, which are based mostly on information accessible to us on the date of this launch. These ahead-looking statements are subject to several pitfalls and uncertainties, together with with no limitation all those established forth in the Company’s filings with the Securities and Trade Commission. Thus, true benefits could be materially various. The Organization expressly disclaims any obligation to update or alter statements whether as a end result of new info, long term situations or normally, except as essential by law.
Investor Relations Hanover International [email protected] 866-744-0974
Resource: Harbor Personalized Improvement, Inc.