Harbor Custom Development Inc. (NASDAQ:HCDI) told investors it is now leasing apartments in Yelm, Washington, one of six projects it listed with Kidder Mathews earlier this year.
The Tacoma, Washington-based real estate company said the Wyndstone Apartments are comprised of four three-story buildings, including four floor plans consisting of one-bed, one-bath; two-bed, two-bath; three-bed, two-bath; and two-bed, two-bath apartment units featuring an upstairs bonus room.
Harbor Custom said the 76-unit complex is conveniently located approximately 20 miles between Washington State’s capital of Olympia and Joint Base Lewis-McChord near Lakewood. JBLM is a major US military installation with an active population of nearly 210,000 inhabitants, making it the fourth largest military installment worldwide by population.
“We are excited to introduce Wyndstone Apartments to the growing community of Yelm,” Harbor Custom COO Jeff Habersetzer said in a statement. “We believe tenants will find our upgraded finishes and unique flex space in the loft apartments set us apart from the competition. The lofts offer tenants the opportunity for additional entertainment space, a dedicated office, or room for the children to play,” he added.
READ: Harbor Custom Development starts leasing spacious Belfair View apartments in western Washington
Harbor Custom explained that the project’s construction began in February 2022, with units available to tenants in mid-January 2023, offering six months to one-year leasing options. Wyndstone Apartment units range from 790 square feet to 1,451 square feet, with rent rates starting at $1,745 to $2,250 a month. The estimated completion of the entire project is expected for the first quarter of 2023, the company added.
“Interest at Wyndstone has been strong and we anticipate this to continue as we bring more buildings online,” Habersetzer said.
Wyndstone Apartments offer comparable finishes to a new construction home, featuring quartz countertops, stainless steel kitchen appliances, an in-unit washer and dryer, and premium flooring. The community offers carports and garages for rent. Tenants have access to the recreational building amenities, including a common area with a pool table and kitchenette, an ADA fitness center on the first level, an additional fitness center upstairs, and conference room.
Other projects listed with Kidder Mathews earlier this year include Pacific Ridge in Tacoma, 80 units; Meadowscape in Olympia with 177 units; Bridgeview Trails in Port Orchard with 138 units; Belfair View Apartments in Belfair with 228 units; and Mills Crossing in Bremerton offering 36 units.
Contact the author at stephen.gunnion@proactiveinvestors.com