Harbor Custom Development Inc. (NASDAQ:HCDI) has announced the sale of 24 developed lots in the Horizon at Semiahmoo subdivision in Blaine, Washington, to MainVue Homes for $4.8 million.
The transaction includes 71 developed lots with panoramic views of Birch Bay and the Cascade Range and is situated adjacent to the Semiahmoo Resort and award-winning golf course.
Harbor purchased the 219-acre Horizon subdivision in July 2021.
“We welcome MainVue Homes to the Horizon at Semiahmoo project and look forward to working with them as one of our select builders in this beautiful Horizon subdivision,” Harbor CEO Sterling Griffin said in a statment. “MainVue is an established luxury brand in the Pacific Northwest and is ideally suited to bring their unique design and craftsmanship to Horizon.”
READ: Harbor Custom Development enters contract with Laughlin Development for the purchase of 66 undeveloped lots for $2.9M in Poulsbo, Washington state
Harbor COO Jeff Habersetzer added that the project gives Harbor the opportunity to help alleviate the significant shortage of residential housing in Whatcom County, while boosting the local economy.
The sale caps off a busy year for Harbor, which has recently sold residential communities in Gig Harbor, Bremerton, Silverdale, Bainbridge Island, Belfair, Allyn, Port Orchard, Lacey, Burien, Yelm and Blaine in the state of Washington. In addition, the firm acquired land and will begin constructing homes in three new markets.
Gig Harbor, Washington-based Harbor is a real estate development company involved in all aspects of the land development cycle including land acquisition, entitlements, construction of project infrastructure, home building, marketing, sales, and management of various residential projects in Western Washington's Puget Sound region; Sacramento, California; Austin, Texas and Punta Gorda, Florida.
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