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Gig Harbor, Washington , April 29, 2021 (Globe NEWSWIRE) — Harbor Custom made Progress, Inc. (“Harbor,” “Harbor Custom made Homes®,” or the “Company”), (NASDAQ: HCDI), an modern and market place primary serious estate enterprise included in all features of the land advancement cycle, these days announced that it has contracted to receive 31 acres of commercial property for $4,750,000 in West Horseshoe Bay, Texas, found somewhere around 53 miles from Austin.
The acquisition includes a 2,800 sq. foot office building that Harbor Tailor made Properties programs to make use of for its structure, promoting and revenue middle serving the Austin metro industry. Harbor anticipates rezoning most of the house from commercial to residential use in the 3rd quarter of 2021. Pursuing the rezone, Harbor programs to give a selection of single family merchandise ranging from 1,800 to 2,400 sq. ft cottages and villas, as properly as 4,000 to 5,000 square toes creek side households on estate lots. House consumers in the improvement will have the option for membership at the Horseshoe Bay Resort (clubhsbresort.com) offering accessibility to resort services which includes a few golfing courses, various clubhouses, yacht club, lake facilities, and entry to a personal jet heart with a 6,000-foot lighted runway. Horseshoe Bay has noticed immediate advancement due to the fact of Austin’s growing work base and the subsequent migration of households to the Lake and Hill Country locations.
“Acquiring this residence not only gives Harbor Custom Residences with the chance for a good mix of residential products in the stock starved Austin metro industry but also offers the Firm a regional workplace in a remarkably appealing place vacation resort area to provide Harbor’s Austin based mostly jobs. City flight from Austin blended with decreasing inventory in the bedroom, rural and spot resort communities like Horseshoe Bay provide a terrific possibility for our business,” stated Sterling Griffin, President and CEO of Harbor Custom made Homes.
About Harbor Tailor made Development, Inc.
Harbor Personalized Development, Inc. is a genuine estate growth company associated in all factors of the land improvement cycle such as land acquisition, entitlements, construction of project infrastructure, property developing, marketing and advertising, product sales, and administration of various household assignments in Western Washington’s Puget Seem area Sacramento, California and Austin, Texas. Harbor has energetic or not too long ago marketed-out residential communities in Gig Harbor, Bremerton, Silverdale, Bainbridge Island, and Allyn in the state of Washington. In addition, Harbor has obtained land and will start developing houses in two new markets starting in the next quarter of 2021. In the Sacramento metro market place, Harbor will be setting up residences in done subdivisions in both equally Rocklin and Auburn, California. In the Austin metro market, Harbor has obtained designed lot stock in Dripping Springs, Driftwood, and Horseshoe Bay, Texas. Harbor Personalized Development’s company strategy is to acquire and build land strategically, based mostly on an knowledge of population progress patterns, entitlement limits, infrastructure improvement, and geo-economic forces. Harbor focuses on true estate within just concentrate on marketplaces with hassle-free entry to metropolitan areas that are commonly characterised by varied financial and employment bases and escalating populations. For more information on Harbor Custom made Growth, Inc., remember to stop by www.harborcustomdev.com.
Specified statements in this push release constitute “forward-wanting statements” within the this means of the federal securities legislation. Words this kind of as “may,” “might,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend” or related expressions, or statements pertaining to intent, perception, or present-day anticipations, are ahead-seeking statements. These forward-seeking statements are dependent on current estimates and assumptions. Although the Firm believes these ahead-on the lookout statements are realistic, undue reliance need to not be placed on any these ahead-wanting statements, which are based mostly on information readily available to us on the day of this launch. These forward-wanting statements are subject matter to numerous risks and uncertainties, together with without the need of limitation people established forth in the Company’s filings with the Securities and Exchange Fee. As a result, actual success could be materially distinctive. The Organization expressly disclaims any obligation to update or change statements regardless of whether as a final result of new details, potential gatherings or in any other case, other than as expected by law.
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Supply: Harbor Tailor made Development, Inc.