Harbor Custom Development has provided the market an update on its six multi-family projects located in Western Washington, which were listed with Kidder Matthew in April 2022.
The company said the first two projects - Mills Crossing townhomes, a completed 36-unit townhome project in Bremerton, and Bridge View Trail apartments, a fully entitled and developed 138-unit apartment site in Port Orchard - are anticipated to close in June 2023.
Additionally, Harbor said it has completed vertical construction on Pacific Ridge, an 80-unit project in Tacoma, and Wyndstone, a 76-unit apartment complex in Yelm.
Further, its Belfair View 228-unit garden-style apartment complex under construction in Belfair, is currently in lease-up on the project’s first phase.
Its Meadowscape 177-unit apartment complex located in Olympia, will commence leasing in June.
“We are seeing good velocity on the rent-up of our apartment projects as we continue to execute on our stated business plan,” said Harbor COO Jeff Habersetzer in a statement.
“We look forward to monetizing the balance of our apartment portfolio as each project approaches rental stabilization. While we are progressing nicely on our current projects, the company is equally focused on replenishing our pipeline for future multi-family projects.”
Harbor Custom Development is a real estate development company involved in all aspects of the land development cycle, including land acquisition, entitlements, construction of project infrastructure, home and apartment building, marketing, and sales of various residential projects in Western Washington's Puget Sound region; Sacramento, California; Austin, Texas and Punta Gorda, Florida.
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