Harbor Custom Development Inc (NASDAQ:HCDI) has announced that it anticipates receiving engineering approval in the fourth quarter of 2023 for the first phase of Grandis Pond, a 438-acre master-planned community in Blaine, Washington.
In its current configuration, Harbor said Grandis Pond is comprised of 872 single-family lots, 120 multi-family units and approximately 10 acres of dedicated neighborhood commercial space.
The project is located on the Washington/Canadian border 33 miles from downtown Vancouver, British Columbia, a city that has a metro market population of nearly three million.
Designed to take maximum advantage of the surrounding natural beauty, the company said the 992-unit Grandis Pond development offers 200 acres dedicated to a mix of neighborhood parks, connecting trails, open space, and wildlife habitats, all situated within the foothills of the Cascade Mountains.
“We are excited to see the engineering progress on Grandis Pond, which is the largest project in our pipeline,” Harbor Custom Development CEO Sterling Griffin said in a statement. “This multi-year development has the scale to potentially attract some of the largest national builders in the country and could provide Harbor the opportunity to monetize certain neighborhoods in the master-planned community early in the development cycle.”
Harbor Custom Development is involved in all aspects of land development, including acquisition, entitlements, construction, home building, marketing, and managing projects. The company is focused on Western Washington's Puget Sound region, Sacramento in California, Austin in Texas, and Punta Gorda in Florida.
Contact the author at stephen.gunnion@proactiveinvestors.com