Harbor Custom made Development, Inc. Contracts to Acquire 31 Acres for $4,750,000 in Austin Metro Housing Current market

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Gig Harbor, Washington , April 29, 2021 (World NEWSWIRE) — Harbor Custom made Progress, Inc. (“Harbor,” “Harbor Tailor made Homes®,” or the “Company”), (NASDAQ: HCDI), an modern and current market leading genuine estate firm involved in all factors of the land growth cycle, nowadays declared that it has contracted to acquire 31 acres of business assets for $4,750,000 in West Horseshoe Bay, Texas, positioned somewhere around 53 miles from Austin.   

The acquisition consists of a 2,800 square foot business setting up that Harbor Customized Properties ideas to benefit from for its design, marketing and advertising and sales middle serving the Austin metro current market.   Harbor anticipates rezoning most of the residence from industrial to residential use in the third quarter of 2021. Next the rezone, Harbor programs to present a wide range of one loved ones products ranging from 1,800 to 2,400 square toes cottages and villas, as perfectly as 4,000 to 5,000 square toes creek facet households on estate heaps. Residence purchasers in the growth will have the prospect for membership at the Horseshoe Bay Resort (clubhsbresort.com) offering accessibility to vacation resort facilities which includes 3 golf courses, multiple clubhouses, yacht club, lake services, and entry to a non-public jet middle with a 6,000-foot lighted runway. Horseshoe Bay has observed immediate expansion simply because of Austin’s expanding work foundation and the subsequent migration of homes to the Lake and Hill Place regions.

“Acquiring this house not only offers Harbor Custom made Residences with the chance for a terrific blend of household product or service in the stock starved Austin metro sector but also features the Firm a regional workplace in a highly appealing location resort area to serve Harbor’s Austin based mostly tasks.  City flight from Austin put together with decreasing stock in the bed room, rural and desired destination vacation resort communities like Horseshoe Bay supply a terrific option for our firm,” said Sterling Griffin, President and CEO of Harbor Tailor made Households.

About Harbor Customized Development, Inc.

Harbor Custom made Growth, Inc. is a genuine estate enhancement firm involved in all features of the land progress cycle such as land acquisition, entitlements, construction of challenge infrastructure, dwelling creating, internet marketing, product sales, and management of different household jobs in Western Washington’s Puget Audio location Sacramento, California and Austin, Texas. Harbor has active or not too long ago bought-out household communities in Gig Harbor, Bremerton, Silverdale, Bainbridge Island, and Allyn in the point out of Washington. In addition, Harbor has obtained land and will start developing houses in two new markets beginning in the second quarter of 2021. In the Sacramento metro current market, Harbor will be constructing houses in concluded subdivisions in both of those Rocklin and Auburn, California. In the Austin metro market, Harbor has obtained produced good deal stock in Dripping Springs, Driftwood, and Horseshoe Bay, Texas. Harbor Tailor made Development’s enterprise strategy is to get and establish land strategically, dependent on an understanding of inhabitants expansion styles, entitlement limitations, infrastructure improvement, and geo-financial forces.  Harbor focuses on authentic estate within just concentrate on markets with handy obtain to metropolitan locations that are normally characterised by various financial and employment bases and expanding populations.  For much more facts on Harbor Tailor made Progress, Inc., you should pay a visit to www.harborcustomdev.com.

Forward-Hunting Statements

Specific statements in this press release constitute “forward-looking statements” in the meaning of the federal securities legal guidelines.  Words these as “may,” “might,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or equivalent expressions, or statements with regards to intent, belief, or present-day expectations, are ahead-looking statements.  These forward-seeking statements are based mostly upon present-day estimates and assumptions.  When the Enterprise believes these ahead-wanting statements are sensible, undue reliance should not be put on any such ahead-wanting statements, which are centered on information and facts obtainable to us on the day of this release.  These ahead-hunting statements are matter to several risks and uncertainties, together with without the need of limitation these established forth in the Company’s filings with the Securities and Exchange Fee.  Consequently, genuine results could be materially distinctive.  The Business expressly disclaims any obligation to update or alter statements whether or not as a consequence of new details, future gatherings or usually, besides as demanded by legislation.