Harbor Custom Development, Inc.

Harbor Custom Development, Inc. engages in the construction, sale, and management of residential properties. Its portfolio includes single-family lots, multi-family properties, and home communities. The company was founded by Sterling Griffin in February 2014 and is headquartered in Tacoma, WA.

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Harbor Custom Development is a real estate, and land development cycle including land acquisition, entitlements, construction of project infrastructure, home building, marketing, sales, and management of various residential projects. As a land developer and builder of apartments, condominiums, single-family homes, and luxury homes, 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.

Gig Harbor, Washington , Oct. 12, 2021 (GLOBE NEWSWIRE) -- 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 that it has closed on the purchase of a 4.31 acre property permitted for the construction of 75 condominium units in Yelm, Washington for $3,325,000.

Harbor Custom Development, Inc. Closes on 75 Unit Permitted Site in Yelm, Washington for $3,325,000

Harbor Custom Development Inc. has closed on a construction loan with Sound Capital Loans LLC in the amount of $20,129,000 to build an 80 unit condominium complex in Tacoma, Washington.

Harbor Custom Development closes on $20M construction loan to build condominium complex in Tacoma, Washington

Gig Harbor, Washington , Oct. 11, 2021 (GLOBE NEWSWIRE) -- 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 that it has closed a construction loan with Sound Capital Loans, LLC in the amount of $20,129,000 to build an 80 unit condominium complex in Tacoma, Washington.

Harbor Custom Development, Inc. Closes Construction Loan with Sound Capital for $20,129,000 on Pacific Ridge Condominiums in Tacoma, Washington

Gig Harbor, Washington,, Oct. 07, 2021 (GLOBE NEWSWIRE) -- 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 the closing of its previously announced underwritten public offering (the “Offering”) of 2,400,000 shares of 8.0% Series A Cumulative Convertible Preferred Stock (the “Series A Preferred Stock”) and 13,800,000 warrants to each purchase one share of common stock, including 1,800,000 warrants as a result of a partial exercise of the over-allotment option granted to the underwriter (“Warrants”).

Harbor Custom Development, Inc. Announces Closing of $36 Million Public Offering of Convertible Preferred Shares & Warrants

Gig Harbor, Washington, Oct. 04, 2021 (GLOBE NEWSWIRE) -- 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 the pricing of its underwritten public offering (the “Offering”) of 2,400,000 shares of 8.0% Series A Cumulative Convertible Preferred Stock (the “Series A Preferred Stock”) and 12,000,000 warrants to each purchase one share of common stock (“Warrants”). Each share of Series A Preferred Stock will be accompanied by five Warrants. Each share of Series A Preferred Stock and accompanying five Warrants is being offered at a price of $15.00. The shares of Series A Preferred Stock and Warrants will be issued separately but can only be purchased together in this Offering. Harbor Custom Development, Inc. has granted the underwriters a 45-day option to purchase up to 360,000 additional shares of Series A Preferred Stock and/or 1,800,000 additional Warrants solely to cover over-allotments, if any.

Harbor Custom Development, Inc. Announces Pricing of $36 Million Public Offering of Convertible Preferred Shares & Warrants

Gig Harbor, Washington , Sept. 09, 2021 (GLOBE NEWSWIRE) -- Harbor Custom Development, Inc. (NASDAQ: HCDI, HCDIP, HCDIW) (“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 that it has closed  the acquisition of approximately 2.34 acres of land for the construction of 112 senior condominium units in Burien, Washington for $2,600,000. In the heart of Western Washington's Puget Sound Region, Burien, located in King County, is less than a 15 minute commute to downtown Seattle and 30 minutes to Tacoma. The Mira Condominiums will cater to the 55+ age demographic and will be ideally suited for retiring employees from King County which contains the corporate headquarters of Amazon, Microsoft, Costco, Starbucks, Nordstrom's, Weyerhaeuser, PACCAR, Expedia, and Alaska Airlines, among others. Boeing no longer maintains its corporate headquarters in the Seattle region but does have approximately 58,000 employees in Washington State, the majority of whom are located in the Puget Sound region. Harbor anticipates the Studio, 1 and 2 Bedroom senior condominium units will be priced between $395,000 and $495,000 and fill a significant need in the local marketplace. Home prices climbed 25% year over year and the median selling price of a home in King County according to S&P CoreLogic Case-Shiller Home Price Index released August 31, 2021, was $871,000.

Harbor Custom Development, Inc. Enters Senior Housing Market - Closes on 112 Unit 55+ Condominium Site in Burien, Washington for $2,600,000

Gig Harbor, Washington , Sept. 02, 2021 (GLOBE NEWSWIRE) -- Harbor Custom Development, Inc. (“Harbor,” “Harbor Custom Homes®,” or the “Company”), (NASDAQ: HCDI; HCDIP; HCDIW), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced that it closed, on the sale of 144 entitled single family lots in the Olympic Ridge subdivision located in Belfair, Washington to Lennar Northwest, Inc., a subsidiary of the Lennar Corporation (“Lennar”) for $10,440,000.

Harbor Custom Development, Inc. Closes the Sale of 144 Lots in Belfair, Washington to Lennar for $10,440,000

Experienced Real Estate Executive Joins Harbor's Board Experienced Real Estate Executive Joins Harbor's Board

Harbor Custom Development, Inc. Announces Appointment of Christopher J. Corr to Board of Directors

Harbor Custom Development, Inc.  (NASDAQ: HCDI; HCDIP; HCDIW), an innovative and market-leading real estate company, has reported impressive 2nd quarter financial results. According to the 2021 2nd quarter report, revenues were $14,132,400 with a net income of $1,069,400.

Harbor Custom Development Reports 70% Increase in Gross Revenue and 346% of Net Income in 2nd Quarter Financial Results

Gig Harbor, Washington , Aug. 23, 2021 (GLOBE NEWSWIRE) -- Harbor Custom Development, Inc. (“Harbor,” “Harbor Custom Homes®,” or the “Company”), (NASDAQ: HCDI; HCDIP; HCDIW), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced it contracted to purchase a 4.31 acre property permitted for the construction of 75 condominium units in Yelm, Washington for $3,325,000.

Harbor Custom Development, Inc. Contracts to Purchase 75 Unit Permitted Condominium Site in Yelm, Washington for $3,325,000

Gig Harbor, Washington , Aug. 18, 2021 (GLOBE NEWSWIRE) -- Harbor Custom Development, Inc. (“Harbor,” “Harbor Custom Homes®,” or the “Company”), (NASDAQ: HCDI; HCDIP; HCDIW), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced it has purchased an 8.44 acre property entitled for the construction of 177 condominium units in Lacey, Washington for $4,425,000.

Harbor Custom Development, Inc. Purchases 177 Unit Condominium Site in Lacey, Washington for $4,425,000

Harbor Custom Development, Inc. (HCDI) CEO Sterling Griffin on Q2 2021 Results - Earnings Call Transcript

Gig Harbor, Washington , Aug. 16, 2021 (GLOBE NEWSWIRE) -- Harbor Custom Development, Inc. (“Harbor,” “Harbor Custom Homes®,” or the “Company”), (NASDAQ: HCDI; HCDIP; HCDIW), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced that 2021 second quarter revenues were $14,132,400 with net income of $1,069,400. Second quarter revenues were 70% greater than the second quarter of 2020 and net income increased 346% over the same period. Harbor CEO, Sterling Griffin stated, “We are excited to achieve our first profitable quarter as a public company and look forward to building on this success for the balance of 2021 and beyond.”

Harbor Custom Development, Inc. Releases Second Quarter Financial Results - Reports Increases in Gross Revenues of 70% and Net Income of 346% over 2020

Gig Harbor, Washington--(Newsfile Corp. - August 12, 2021) - Harbor Custom Development, Inc. ("Harbor," "Harbor Custom Homes®," or the "Company"), (NASDAQ:HCDI) (NASDAQ: HCDIP) (NASDAQ: HCDIW), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced that President and CEO, Sterling Griffin, will present a corporate overview at the Q3 Virtual Investor Summit being held on August 17 and 18, 2021.Mr. Griffin is scheduled to participate...

Harbor Custom Development, Inc. to Present at the Virtual Investor Summit on August 18, 2021

Gig Harbor, Washington , Aug. 10, 2021 (GLOBE NEWSWIRE) -- Harbor Custom Development, Inc. (“Harbor,” “Harbor Custom Homes®,” or the “Company”), (NASDAQ:HCDI, HCDIP, HCDIW), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced that it closed on a 40+ acre oceanfront parcel in Punta Gorda, Florida for $4,700,000 for the purpose of constructing 189 oceanfront condominium units.

Harbor Custom Development, Inc. Closes 189 Unit Oceanfront Condominium Site in Punta Gorda, Florida for $4,700,000

Gig Harbor, Washington, Aug. 04, 2021 (GLOBE NEWSWIRE) -- Harbor Custom Development, Inc. (“Harbor,” “Harbor Custom Homes®,” or the ”Company”), (NASDAQ: HCDI), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced it will release second quarter 2021 financial results on August 17, 2021.

Harbor Custom Development, Inc. Announces Second Quarter 2021 Earnings Release Date and Webcast to Follow

Gig Harbor, Washington, July 29, 2021 (GLOBE NEWSWIRE) -- Harbor Custom Development, Inc. (“Harbor,” “Harbor Custom Homes®,” or the “Company”), (NASDAQ:HCDI), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced that it has entered into term sheets with US Capital Global for credit facilities totaling $158,400,000 to provide construction financing on three Western Washington condominium projects and one in Southwest Florida.

Harbor Custom Development, Inc. Signs Term Sheets for Credit Facilities Totaling $158,400,000 with US Capital Global

Gig Harbor, Washington, July 28, 2021 (GLOBE NEWSWIRE) -- Harbor Custom Development, Inc. (“Harbor,” “Harbor Custom Homes®,” or the “Company”), (NASDAQ:HCDI), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced that it has entered into a purchase and sale agreement for the acquisition of an entitled 8 story residential project in Midtown Sacramento for $5,544,000. The purchase is expected to close on or before October 11, 2021.

Harbor Custom Development, Inc. Contracts to Purchase 208 Unit Condominium Site in Sacramento, California for $5,544,000 Addressing Critical Need for First-Time Home Buyers

Gig Harbor, Washington , July 26, 2021 (GLOBE NEWSWIRE) -- Harbor Custom Development, Inc. (“Harbor,” “Harbor Custom Homes®,” or the “Company”), (NASDAQ:HCDI), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced that it has entered into a sales contract with Lennar Northwest, Inc., a subsidiary of the Lennar Corporation (“Lennar”),  for $10,440,000 on 144 entitled lots in Olympic Ridge located in Belfair, Washington. Harbor Custom Homes further announced that it has separately contracted with Lennar to develop the Olympic Ridge lots for an additional $10,880,000 bringing the combined contracted value to $21,240,000.

Harbor Custom Development, Inc. Contracts to Sell 144 Entitled Lots in Belfair, WA to Lennar for $10,440,000

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Gig Harbor, Washington , July 22, 2021 (GLOBE NEWSWIRE) -- Harbor Custom Development, Inc. (“Harbor,” “Harbor Custom Homes®,” or the “Company”), (NASDAQ:HCDI), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced it will be featured on the Viewpoint program regarding the effects of Covid -19 on the single-family home market.

Harbor Custom Development, Inc. Featured on Viewpoint, Hosted by Dennis Quaid

Gig Harbor, Washington , July 20, 2021 (GLOBE NEWSWIRE) -- Harbor Custom Development, Inc. (“Harbor,” “Harbor Custom Homes®,” or the “Company”), (NASDAQ:HCDI), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced that it has entered into a contract with Corporate Capital Solutions, Inc. (“CCS”) to guide Harbor's real estate acquisition arm and provide project management consulting services on a national basis. Harbor Custom Homes has worked closely with CCS since the Company's IPO in August 2020, utilizing CCS's services in California, Texas, and Florida.

Harbor Custom Development, Inc. Enters National Expansion Contract with Corporate Capital Solutions

Gig Harbor, Washington, June 30, 2021 (GLOBE NEWSWIRE) -- Harbor Custom Development, Inc. (Nasdaq: HCDI) (“Harbor,” “Harbor Custom Homes®,” or the “Company”), an innovative and market leading real estate company involved in all aspects of the land development cycle, held its Annual Shareholder Meeting on June 8, 2021 (the “Meeting”).  At the Meeting, Harbor's six current directors were re-elected and a new director, Karen Bryant, former CEO of the Seattle Storm, was elected.  Also at the Meeting, CEO and President, Sterling Griffin, announced:

Harbor Custom Development, Inc. Holds Annual Shareholders Meeting and Discusses Revenue Results and Profitability

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Gig Harbor, Washington , June 29, 2021 (GLOBE NEWSWIRE) -- Harbor Custom Development, Inc. (NASDAQ: HCDI, HCDIP, HCDIW) (“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 that it has acquired 219 acres for $14,300,000 adjacent to the Semiahmoo resort in Blaine, Washington (https://www.semiahmoo.com/) and approximately 39 miles from Vancouver, British Columbia.

Harbor Custom Development, Inc. Acquires 219 acres for $14,300,000 in Vancouver BC Metro Market

News for Harbor Custom Development, Inc. Stock (HCDI)