Harbor Custom Development, Inc. Land Sale Contracts

    Blaine, Washington, May 17, 2022 (GLOBE NEWSWIRE) – Harbor Custom Development, Inc. (Nasdaq: HCDI, HCDIP, HCDIW, HCDIZ) (“Harbor”, “Harbor Custom Homes®,” or “Company”), an innovative and market-leading real estate company involved in all aspects of the land development cycle, announced today that it has closed the sale of three lands undeveloped multi-family Horizon in the Semiahmoo subdivision in Blaine, Washington, to Noffke Landholdings, Inc. for $5.4 million.

    The three plots total 15.44 acres and are Noffke’s second purchase of multi-family properties within the Horizon subdivision in 2022. The residential homes will feature a mix of two- and four-story triplexes, ranging from about 1,600 to 1,900 square feet, and feature views of Birch Bay and the Cascade Mountains. .

    “It gives me great pleasure to continue to work with Noffke Landholdings on these transactions. Stirling Griffin, President and CEO of Harbor Custom Development, Inc.

    “We are eager to bring our diverse range of products to Whatcom County. Whether you are looking for more space for your growing family, your retirement home, or a weekend retreat, we offer something for everyone. We are particularly excited to showcase our multiple businesses – Family Homes in the Horizon community. We expect a mix of rental and sales of available homes in the second quarter of 2023, said Matthew Nowke, President and CEO of Noffke Landholdings, Inc.

    Listing broker Ron Branch, owner of Marketing Group, Inc. dba Branch Land Marketing, , a regional real estate brokerage firm headquartered in Kirkland, Washington.

    Noffke is one of three builders in the Pacific Northwest who have expanded their geographical presence to the Horizon community. MainVue Homes, Century Communities, and Noffke Homes closed on 71 Horizon lots in December of 2021 and expect presales of new single-family homes ranging from 2,200 square feet to more than 3,500 square feet beginning in the second quarter of this year. The project features a mixture of luxury single-family residences and multi-family residences within a network of landscaped gardens, open spaces and driveway systems. Once complete, Horizon in Semiahmoo will comprise a total of 140 single-family homes and eight future multi-family development areas with approximately 300 units.

    Horizon at Semiahmoo is a planned community designed to connect residents to the outdoors while providing high-end living facilities and resort-like amenities in a charming small town setting. Located in Whatcom County, Washington, and adjacent to the popular Semiahmoo resort and award-winning golf course, the 149-acre community boasts a natural jungle setting with sweeping coastal views of Birch Bay and the Cascade Mountains.
    For more information about Horizon at Semiahmoo or Harbor Custom Development Inc. Please visit HorizonbyHarborCustomDev.com, call 888-772-2884, or email a representative at [email protected].

    About Harbor Custom Development, Inc.

    Harbor Custom Development, Inc. is a real estate development company involved in all aspects of the land development cycle, including land acquisition, entitlements, project infrastructure construction, home construction, marketing, sales, and management of various residential developments in West Puget, Washington. Sound District Sacramento, California; Austin, Texas; and Punta Gorda, Florida. As a land developer and builder of apartments, condominiums, single-family homes and luxury homes, Harbor Custom Development’s strategy is to acquire and develop land strategically based on an understanding of population growth patterns, eligibility constraints, infrastructure development and geography. economic forces. Harbor focuses on acquiring scenic land to develop and sell residential plots, new home communities, multi-storey condominiums and residential properties within 20 to 60 minutes of the nation’s fastest growing employment corridors. Harbor leads the real estate industry as the first national land developer and home builder to accept payments in cryptocurrency for its listed properties. For more information about Harbor Custom Development, Inc. Please visit https://harborcustomhomes.com.

    About Nofki Land holdings, Inc.

    Noffke Land Holdings, Inc. is a subsidiary of Noffke Homes, Inc. It focuses on land acquisition and development to create sophisticated and exclusive home designs tailored to fit the privacy of each community. Noffke is committed to quality and is involved in the Pierce County Master Builders Association, the Kitsap Building Association, Cheers Energy Efficiency, and the National Association of Home Builders. With the business focused on material quality, research, integrity, and efficiency, Noffke Homes doubled its growth across all segments of the real estate market from 2019 to 2021. Noffke’s major developments have been in Pierce County, Washington, since 2012, implementing more than 14 distinctive floor plans, and more of 150 single family homes in a variety of styles, a first in its class to introduce new design elements for the growth of this region. Not only does Noffke offer residential real estate within Pierce County, but it will expand into the commercial space in late 2022. Noffke is eager for an opportunity to continue this growth by partnering with Harbor Custom Development, Inc. In Horizon at Semiahmoo Master Plan Community, located in Blaine, Washington. Noffke is ready to begin work in the second quarter of 2022 on the Horizon Community, and is looking to showcase its diverse portfolio of coveted residential and multi-family homes. For more information and to see upcoming projects, please visit www.noffkehomes.com

    forward-looking statements

    Certain statements in this press release constitute “forward-looking statements” within the meaning of the federal securities laws. Words such as “may,” “may,” “should,” “believe,” “expect,” “expect,” “estimate,” “continue,” “expect,” “anticipate,” “project,” “plan,” “intention” or similar expressions, or statements regarding current intent, belief or expectations, are forward-looking statements. These forward-looking statements are based on current estimates and assumptions. While the Company believes these forward-looking statements are reasonable, it should not place undue reliance on any such forward-looking statements , which are based on information available to us at the date of this release. These forward-looking statements are subject to many risks and uncertainties, including but not limited to those set forth in company filings with the Securities and Exchange Commission. Consequently, actual results could be materially different. The Company expressly disclaims any obligation to update or change data, whether as a result of new information, future events or otherwise, except as required by law.

    Investor Relations
    Hannover International
    [email protected]

    Multi-family floorspace on its skyline in the Semiahmoo subdivision in Blaine, Washington