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Harbor Custom Development, Inc. Continues Texas Expansion in Horseshoe Bay with Wurzel Builders, LTD

TACOMA, Wash, March 01, 2023 (GLOBE NEWSWIRE) -- Harbor Custom Development, Inc. (Nasdaq: HCDI, HCDIP, HCDIW, HCDIZ) (“Harbor,” “Harbor Custom Homes®,” or the “Company”), an innovative real estate company involved in all aspects of the land development cycle, today announced it has partnered with Austin based general contractor, Wurzel Builders, LTD to expand Harbor’s luxury single-family home division in Horseshoe Bay, Texas.

Harbor anticipates breaking ground with its new luxury home collection this summer on lots owned by the company in the Siena Creek and Summit Rock communities of Horseshoe Bay. The Company has contracted with Wurzel Builders to construct homes specifically designed to address the needs of the retiring baby boomer demographic and purchasers of second homes looking for a resort community offering world-class golf courses, recreational lake access, and top-of-the-line medical facilities.  The Horseshoe Bay Resort community is located approximately one hour drive from Austin and less than two hours from San Antonio.

“We are excited to announce our partnership with Wurzel Builders and believe our targeted demographic is well-positioned to acquire homes in the current economic cycle. Together we will move forward constructing quality homes specifically designed to fit the needs of Horseshoe Bay’s growing 55+ community,” said Sterling Griffin, President and CEO of Harbor Custom Development, Inc.  

Harbor announced its expansion into the Austin and Horseshoe Bay markets in early 2021. The Company’s unique business model allows for exceptional growth opportunities by partnering with local builders and developers. The Company currently has 94 developed lots available in the Horseshoe Bay Resort community. Harbor’s most recent finished home sale in Horseshoe Bay occurred in the Siena Creek subdivision on February 28, 2023, and had a closing price of $1,550,000.

“We are excited to introduce our latest home plan collection to our existing inventory with floorplans ranging from 1,800 to 2,800 square feet and starting at $800,000. This new collection is tailored for the 55+ lifestyle, including single-level, open-concept floor plans designed for main floor living, covered outdoor spaces for entertaining, and the luxury interior finishes our homebuyers have come to expect from Harbor,” stated Jeff Habersetzer, Chief Operating Officer of Harbor Custom Development, Inc. 

“Wurzel Builders is excited to be Harbor Custom Development’s manager and builder partner to construct and sell their homes in the Horseshoe Bay community.  Horseshoe Bay is a beautiful area, and we’re looking forward to being part of the team to create comfortable, high-quality living spaces,” stated Barry Wurzel, President of Wurzel Builders, LTD.

About Wurzel Brothers, LTD
Wurzel Builders, LTD is a full-service general contractor and construction manager with extensive experience in construction and renovating commercial projects in the Hospitality, Multi-family, Healthcare, Retail, Industrial, Office, and Restaurant sectors. Since 1998, Wurzel Builders has established a reputation for quality-centric construction and reliability among clients, developers, and subcontractors that has expanded to nine markets across the U.S. The team’s transparent process, comprehensive services, and key sense to detail ensure they can confidently deliver on time and on budget by offering proactive and creative solutions.

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, 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. As a land developer and builder of apartments, and single-family luxury homes, Harbor Custom Development's business strategy is to acquire and develop land strategically based on an understanding of population growth patterns, entitlement restrictions, infrastructure development, and geo-economic forces. Harbor focuses on acquiring land with scenic views or convenient access to freeways and public transportation to develop and sell residential lots, new home communities, and multi-story apartment properties within a 20 to 60-minute commute of the nation's fastest-growing metro employment corridors.

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,” “might,” “could,” “should,” “believe,” “expect,” “anticipate,” “estimate,” “continue,” “predict,” “forecast,” “project,” “plan,” “intend,” “potential,” and similar expressions, and statements regarding intent, belief, or current expectations, are forward-looking statements. These forward-looking statements are based upon current estimates and assumptions. While the Company believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are subject to various risks and uncertainties, including without limitation those set forth in the Company's filings with the Securities and Exchange Commission. Thus, actual results could be materially different. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events, or otherwise, except as required by law.

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