Harbor Custom Development, Inc.
HCDIP
NASDAQ Capital Market1.10
USD
-0.18
- -
Harbor Custom Development, Inc.
HCDIP
(NASDAQ Capital Market)
Recent
price
1.10
P/E
ratio
- -
div
yld
- -
ROIC.AI
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- Similar Companies
- Business
- Harbor Custom Development, Inc. is a real estate development company engaged in the full land development cycle, including land acquisition, entitlements, project infrastructure construction, single and multi-family vertical construction, marketing, and sales of residential projects. The company develops residential lots, home communities, townhomes, and multi-story apartment properties primarily in Washington, California, Texas, and Florida. Harbor Custom Development operates through five segments: Homes, Developed Lots, Entitled Land, Multi-Family, and Fee Build services, which include infrastructure construction for residential development. The company owns or controls approximately 15 communities totaling around 517 units or lots in various stages of development. Founded in 2014 and headquartered in Tacoma, Washington, Harbor Custom Development markets its homes under the Harbor Custom Homes® brand, emphasizing quality craftsmanship and thoughtful design. In recent major changes, Harbor Custom Development filed for Chapter 11 bankruptcy protection in December 2023 and has since been executing a strategy to wind down its operations and liquidate its assets under a court-approved plan. The company is systematically selling remaining properties in its key markets of Washington, California, Florida, and Texas to maximize creditor recoveries, with no expected material returns for equity shareholders. As part of the liquidation process, it has engaged real estate brokerage and investment banking firms to manage the sale of its multi-family portfolio. Prior to bankruptcy, the company had expanded its multi-family pipeline, acquiring and developing projects in growing metro employment corridors. Executive leadership changes include the retirement of CEO Sterling Griffin. Harbor Custom Development transitioned from its former name, Harbor Custom Homes, Inc., in 2019 and operated actively in new construction and residential community development up to its restructuring. The company targets residential real estate markets with a focus on commuter-friendly communities within fast-growing metropolitan areas, aiming to provide diverse housing options from single-family homes to multi-family apartment complexes. Harbor Custom Development's business model includes a mix of land acquisition, development, construction, and sales activities designed to capitalize on expansion opportunities across its Western and Southern U.S. operating regions. Its core customer base spans homebuyers and real estate investors in these markets. Overall, Harbor Custom Development, Inc. is a real estate development firm with a comprehensive approach to residential project development and delivery, undergoing significant operational changes through bankruptcy and asset liquidation to exit its business.