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.

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Harbor Custom Development Inc said it has listed six Western Washington apartment projects totaling 734 units for a combined value of $278 million with Kidder Mathews, the largest independent brokerage firm on the West Coast. "Rental rates continue to escalate at unprecedented levels driving up project apartment values as demand for multi-family housing exceeds the limited supply in the Puget Sound Region of Western Washington.

Harbor Custom Development lists six Western Washington apartment projects totaling 734 units for a combined value of $278M with Kidder Mathews

Tacoma, Washington, April 21, 2022 (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 it has listed six Western Washington apartment projects totaling 734 units for a combined value of $278 million with Kidder Mathews, the largest independent brokerage firm on the West Coast.

Harbor Custom Development, Inc. Announces Listing of Six Multi-Family Projects totaling $278 million with Kidder Mathews Inc.

Gig Harbor, WA, April 21, 2022 (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 it will restate its previously issued annual financial statements for the year ended December 31, 2021 and quarterly financial statements for the fourth quarter ended December 31, 2021 and third quarter ended September 30, 2021 to reflect revised diluted earnings per share (“Diluted EPS”) results.

Harbor Custom Development, Inc. Announces a Restatement of Diluted Earnings Per Share (EPS)

Harbor Custom Development Inc. (NASDAQ:HCDI) announced that it has expanded its geographical footprint into the Texas market with 208 single-family lots under various stages of development located throughout the Austin metropolitan statistical area (MSA). The real estate development company said its luxury homes range from 2,200 to 4,200 square feet, with prices starting at $900,000 to $2 million.

Harbor Custom Development enters Texas market with 208 single-family lot developments

National builder and land developer brings 208 single-family homes throughout the Austin MSA National builder and land developer brings 208 single-family homes throughout the Austin MSA

Harbor Custom Development, Inc. Announces Entrance into Texas Market

Harbor Custom Development, Inc. told investors it closed on the sale of a six-acre multi-family tract in its Horizon at Semiahmoo subdivision in Blaine, Washington, to Noffke Homes for $4.48 million on March 31, 2022.

Harbor Custom Development closes on $4.48M land sale to Noffke Homes in Blaine, Washington

Six-acre land parcel represents the first of eight potential multi-development tracts to be developed within the Horizon at Semiahmoo subdivision in Blaine, Washington Six-acre land parcel represents the first of eight potential multi-development tracts to be developed within the Horizon at Semiahmoo subdivision in Blaine, Washington

Harbor Custom Development, Inc. Closes on $4.48M Land Sale to Noffke Homes in Blaine, Washington

HCDI reported blowout profits in Q4, but has guided for slower EBITDA growth in 2022.

Harbor Custom Development Preferred: A 13.1% Yielder

ThinkEquity thinks Harbon Custom Development Inc will continue to build on its 2021 successes in 2022.  “Harbor remains focused on strengthening its current market position and has a strong foundation to accelerate growth and market reach during 2022 and beyond,” analysts said in a note.

ThinkEquity sees Harbor Custom Development building on its 2021 successes in 2022

Harbor Custom Development, Inc. (HCDI) CEO Sterling Griffin on Q4 2021 Results - Earnings Call Transcript

Harbor Custom Development Inc revealed top-line revenue growth of over 43% year-over-year in its first full year as a public company. The real estate company, which is involved in all aspects of the land development cycle, said it had generated net sales of $72.4 million in the year to end December 31, 2021, compared to $50.4 million in 2020.

Harbor Custom Development reports strong top-line revenue growth in its first year as a public company

Continued Strength in Buyer Demand Drives Full Year Sales Increase of 43.6% Continued Strength in Buyer Demand Drives Full Year Sales Increase of 43.6%

Harbor Custom Development, Inc. Reports 2021 Fourth Quarter and Full Year Results and Provides Full Year 2022 Outlook

Gig Harbor, Washington, March 10, 2022 (GLOBE NEWSWIRE) -- Harbor Custom Development, Inc. (“Harbor,” “Harbor Custom Homes®,” or the “Company”), (NASDAQ: HCDI; HCDIP; HCDIW, HCDIZ), an innovative and market leading real estate company involved in all aspects of the land development cycle, today announced preliminary financial results for the fourth quarter and full year ended December 31, 2021. The Company also announced that its corresponding earnings conference call is scheduled for Thursday, March 24, 2022, at 9:30 a.m. PT.

Harbor Custom Development, Inc. Provides Preliminary Fourth Quarter 2021 Financial Results and Announces Fourth Quarter Record Earnings Conference Call

Gig Harbor, Washington, March 09, 2022 (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 a senior secured revolving credit facility (the “Revolving Facility”) with BankUnited, Inc. The facility will provide the Company with a $25 million capacity over a two-year term.

Harbor Custom Development, Inc. Announces the Completion of New Senior Secured Revolving Credit Facility of $25 Million

Harbor Custom Development Inc. (NASDAQ:HCDI) said it has entered into a preliminary commitment for $29,750,000 in construction financing with Washington Federal Bank (WaFd Bank) for the 177 unit Tanglewilde apartment complex located in Lacey, Washington. The company said the 177-unit apartment complex is ideally located for tenants employed at Washington State's Capitol in Olympia or military personnel commuting to Joint Base Lewis-McChord.

Harbor Custom Development enters into preliminary commitment with Washington Federal Bank for $29,750,000 construction loan

Harbor Custom Development Inc said it has entered into a preliminary commitment for $15,715,000 in construction financing with Marquee Funding Group for the 75 unit Wyndstone apartment complex located in Yelm, Washington. Yelm is conveniently located only 22 miles from Washington State's capital of Olympia to the south and 24 miles to Joint Base Lewis - McChord,  a major US military installation with an active population of nearly 210,000 inhabitants, making it the fourth largest military installment worldwide by population.

Harbor Custom Development enters into preliminary commitment for $15,715,000 in construction financing with Marquee Funding Group

Gig Harbor, Washington , Jan. 27, 2022 (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 entered into a preliminary commitment for $15,715,000 in construction financing with Marquee Funding Group for the 75 unit Wyndstone apartment complex located in Yelm, Washington.

Harbor Custom Development, Inc. Enters Preliminary Commitment with Marquee Funding Group for $15,715,000 Construction Loan

Harbor Custom Development Inc announced that it has closed its $1.5 million purchase of a 138-unit entitled apartment site in Port Orchard, Washington State. The company said the Bridgeview project is a future three-story, garden-style apartment complex scheduled to begin construction in April, 2022.

Harbor Custom Development closes $1.5M purchase of a 138-unit apartment site in Washington State

Gig Harbor, Washington , Jan. 18, 2022 (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 a 138 unit entitled apartment site in Port Orchard, WA for $1,455,000.

Harbor Custom Development, Inc. Closes Land for 138 Unit Apartment Site in Port Orchard, WA

Gig Harbor, Washington , Jan. 13, 2022 (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, will present virtually to the investment community via webcast at the Sidoti & Company Virtual Small Cap Conference on Thursday, January 20, 2022, at 12:15 p.m. (EDT).

Harbor Custom Development, Inc. to Present at the Sidoti & Company Virtual Small Cap Conference Live Via Webcast

Harbor Custom Development Inc said it has closed a $19,129,000 construction loan with Broadmark Realty Capital for the 126 unit first phase of its 228 unit Olympic Sunset View Apartment project in Belfair, Washington. Located in North Mason County, Washington the 228-unit garden-style apartment complex currently under construction, is conveniently situated adjacent to highway SR 3 and provides views of Puget Sound and the Olympic Mountains.

Harbor Custom Development closes on $19,129,000 construction loan with Broadmark Realty Capital for first phase of its Olympic Sunset View Apartment project

Gig Harbor, Washington , Jan. 03, 2022 (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 $19,129,000 construction loan with Broadmark Realty Capital for the 126 unit first phase of Harbor's 228 unit Olympic Sunset View Apartment project in Belfair, Washington.

Harbor Custom Development, Inc. Closes $19,129,000 Construction Loan with Broadmark Realty Capital

Harbor Custom Development Inc said it has entered into a contract with JIBA Family LP and Bayonet Point Holdings LLC for the purchase of 60 acres in Hudson, Florida for $7.4 million.  The company said the 60-acre parcel is a 35-minute commute to downtown Tampa Bay with a metro area population of more than three million residents.

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