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Harbor Custom Development Inc's Business Segments
Harbor Custom Development Inc's reported revenue by business segment and by geographic region, quarterly and annual, normalized against the consolidated income statement. Free below: the top 3 rows per table, this quarter and this fiscal year. Subscriber access adds the full segment history and operating income by segment.
Reportable Segments
6
Largest Segment
Multi Family Segment
Total Revenue
$ 59
Regions Reported
-
Annual Results
Revenue Share by Reportable Segment - FY2023
- Multi Family Segment64.5%
- Developed Lots18.6%
- Homes15.4%
- Fee Build1.5%
- Entitled Land0%
- All Other Segments0%
Revenue by Reportable Segment - FY2023
| Segment | Revenue (Millions) | % of Total |
|---|---|---|
| Multi Family Segment | $ 38 | 64.5% |
| Developed Lots | $ 11 | 18.6% |
| Homes | $ 9 | 15.4% |
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Revenue by Product & Service Category - FY2023
- Multi Family Product64.5%
- Developed Lots18.6%
- Homes15.4%
- Fee Build1.5%
- Entitled Land0%
- Construction Materials0%
Revenue by Product & Service Category - FY2023
| Category | Revenue (Millions) | % of Total |
|---|---|---|
| Multi Family Product | $ 38 | 64.5% |
| Developed Lots | $ 11 | 18.6% |
| Homes | $ 9 | 15.4% |
Product and service categories are a supplemental disclosure and are not required to sum to consolidated revenue or to the reportable segments above.
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Description of Harbor Custom Development Inc
Harbor Custom Development Inc is a real estate development company based in Gig Harbor, Washington. The company focuses on residential and commercial projects in the Western United States, primarily in the Pacific Northwest region. They have a team of experienced professionals who specialize in all aspects of real estate development, including land acquisition, entitlements, construction, sales, and marketing.
Harbor Custom Development Inc was founded in 2014 by Sterling Griffin, who serves as the company's Chief Executive Officer. Since its inception, the company has established a strong reputation for delivering high-quality and innovative developments that meet the evolving needs of the market.
One of the key strengths of Harbor Custom Development Inc is their ability to identify and acquire desirable properties. They have a comprehensive due diligence process, which involves evaluating market conditions, zoning regulations, and potential risks associated with each site. This allows them to select properties with high growth potential and value.
Once a property is acquired, Harbor Custom Development Inc begins the entitlement process. This involves obtaining the necessary permits and approvals from local government agencies to develop the land. They have a dedicated team of professionals who specialize in navigating the complex regulatory landscape and ensuring compliance with all the necessary regulations.
Harbor Custom Development Inc takes a collaborative approach to design and construction. They work closely with renowned architects, engineers, and contractors to create innovative and visually appealing projects. The company places a strong emphasis on quality craftsmanship and attention to detail, resulting in projects that stand out in the market.
In terms of residential developments, Harbor Custom Development Inc offers a wide range of housing options, including single-family homes, townhomes, and luxury estates. They focus on creating communities that are not only aesthetically pleasing but also provide a great quality of life for residents. Their projects often feature amenities such as parks, trails, and recreational facilities to enhance the overall living experience.
In addition to residential developments, Harbor Custom Development Inc also undertakes commercial projects, including retail, office, and mixed-use developments. They carefully analyze market demand and local economic conditions to determine the most viable commercial opportunities.
Harbor Custom Development Inc has a strong sales and marketing team that ensures their developments reach the target audience. They employ various strategies, including traditional marketing methods, digital marketing, and partnerships with real estate agents, to generate interest and drive sales.
Overall, Harbor Custom Development Inc is a reputable real estate development company known for their commitment to quality, innovation, and customer satisfaction. They have a proven track record of delivering successful projects that contribute to the growth and development of the communities they serve.
Harbor Custom Development Inc was founded in 2014 by Sterling Griffin, who serves as the company's Chief Executive Officer. Since its inception, the company has established a strong reputation for delivering high-quality and innovative developments that meet the evolving needs of the market.
One of the key strengths of Harbor Custom Development Inc is their ability to identify and acquire desirable properties. They have a comprehensive due diligence process, which involves evaluating market conditions, zoning regulations, and potential risks associated with each site. This allows them to select properties with high growth potential and value.
Once a property is acquired, Harbor Custom Development Inc begins the entitlement process. This involves obtaining the necessary permits and approvals from local government agencies to develop the land. They have a dedicated team of professionals who specialize in navigating the complex regulatory landscape and ensuring compliance with all the necessary regulations.
Harbor Custom Development Inc takes a collaborative approach to design and construction. They work closely with renowned architects, engineers, and contractors to create innovative and visually appealing projects. The company places a strong emphasis on quality craftsmanship and attention to detail, resulting in projects that stand out in the market.
In terms of residential developments, Harbor Custom Development Inc offers a wide range of housing options, including single-family homes, townhomes, and luxury estates. They focus on creating communities that are not only aesthetically pleasing but also provide a great quality of life for residents. Their projects often feature amenities such as parks, trails, and recreational facilities to enhance the overall living experience.
In addition to residential developments, Harbor Custom Development Inc also undertakes commercial projects, including retail, office, and mixed-use developments. They carefully analyze market demand and local economic conditions to determine the most viable commercial opportunities.
Harbor Custom Development Inc has a strong sales and marketing team that ensures their developments reach the target audience. They employ various strategies, including traditional marketing methods, digital marketing, and partnerships with real estate agents, to generate interest and drive sales.
Overall, Harbor Custom Development Inc is a reputable real estate development company known for their commitment to quality, innovation, and customer satisfaction. They have a proven track record of delivering successful projects that contribute to the growth and development of the communities they serve.
Harbor Custom Development, Inc. is a multifaceted real estate development company that focuses on residential, commercial, and mixed-use developments. With a commitment to delivering unique and quality projects, the company operates in various segments that include land development, homebuilding, and investment in real estate.
Segments
1. Residential Development:
- Single-family Homes: Harbor Custom Development specializes in the construction of single-family homes, offering a range of designs and styles to meet the varying needs of buyers. This segment emphasizes quality workmanship, innovative designs, and adherence to sustainable practices. Customization options are often available, allowing buyers to tailor aspects of their homes to personal tastes.
- Multi-family Projects: The company also engages in developing multi-family housing options, which may include apartments and condominiums. This segment is particularly important in urban areas where housing demand is high. Projects often focus on creating communities that provide amenity-rich living.
- Affordable Housing Initiatives: Recognizing the need for affordable housing, Harbor Custom Development has been involved in projects aimed at providing economical housing solutions, contributing to community welfare while ensuring a return on investment.
2. Commercial and Mixed-use Development:
- The company invests in commercial projects that can serve a variety of purposes, such as retail, office space, and mixed-use developments. These projects are designed to create integrated environments where residential and commercial properties co-exist, offering convenience and enhancing local economies.
3. Real Estate Investment:
- Harbor Custom Development functions as an investment entity, acquiring properties and land for development or resale. This involves strategic land acquisition, targeting properties in high-growth areas with potential for significant residential or commercial development. The company evaluates market trends to maximize returns on investments.
Products and Services
1. Custom Home Building Services: Harbor Custom Development offers a range of custom home building services that allow clients to be involved in the design and building process. This includes consultations, architectural planning, and construction management to create a tailored home experience.
2. Development Consulting: The company provides consulting services for other developers and property owners, utilizing its expertise in zoning, land use regulations, and permitting processes. This service helps clients navigate the complexities of real estate development, from initial concept through to project completion.
3. Project Management: Harbor Custom Development offers project management services that oversee the entire development process. This includes scheduling, budgeting, procurement, and coordination of trades, ensuring that projects remain on track and on budget while maintaining quality standards.
4. Sales and Marketing of Properties: The companys sales and marketing teams are dedicated to promoting new developments and helping buyers navigate the purchasing process. This involves strategic marketing campaigns, open houses, and personal consultations to ensure potential buyers have access to all necessary information.
5. Sustainability Initiatives: There is an emphasis on incorporating sustainable building practices into their projects. The company strives to use eco-friendly materials, energy-efficient designs, and sustainable land development practices. This commitment to sustainability helps in meeting the growing consumer demand for environmentally friendly homes.
International Operations
While Harbor Custom Development primarily focuses on the U.S. market, particularly in the Pacific Northwest, there have been indications of interest in exploring international operations. This expansion could manifest in several ways:
1. Market Research and Feasibility Studies: The company may undertake comprehensive market research in potential international markets to assess demand for residential and commercial developments. This would involve evaluating local regulations, economic conditions, and housing needs.
2. Strategic Partnerships: Harbor Custom Development might consider forming partnerships or joint ventures with local developers in international markets. These partnerships can leverage local knowledge and expertise while sharing the financial risks associated with international projects.
3. Exporting Expertise: The company could explore opportunities to provide consulting services internationally, advising foreign developers on project management, custom home building, and sustainable development practices based on their successful U.S. operations.
4. Acquisition of Land: There may be opportunities for acquiring land in burgeoning international markets that show potential for growth. This would be in line with their investment strategy of targeting high-potential areas for development.
Overall, Harbor Custom Development, Inc. is positioned as a diverse player in the real estate development industry, with a strategic focus on quality home building and community development. Their commitment to sustainability and innovative design plays a crucial role in their offerings, and potential international operations could further broaden their market reach and development capabilities.
Segments
1. Residential Development:
- Single-family Homes: Harbor Custom Development specializes in the construction of single-family homes, offering a range of designs and styles to meet the varying needs of buyers. This segment emphasizes quality workmanship, innovative designs, and adherence to sustainable practices. Customization options are often available, allowing buyers to tailor aspects of their homes to personal tastes.
- Multi-family Projects: The company also engages in developing multi-family housing options, which may include apartments and condominiums. This segment is particularly important in urban areas where housing demand is high. Projects often focus on creating communities that provide amenity-rich living.
- Affordable Housing Initiatives: Recognizing the need for affordable housing, Harbor Custom Development has been involved in projects aimed at providing economical housing solutions, contributing to community welfare while ensuring a return on investment.
2. Commercial and Mixed-use Development:
- The company invests in commercial projects that can serve a variety of purposes, such as retail, office space, and mixed-use developments. These projects are designed to create integrated environments where residential and commercial properties co-exist, offering convenience and enhancing local economies.
3. Real Estate Investment:
- Harbor Custom Development functions as an investment entity, acquiring properties and land for development or resale. This involves strategic land acquisition, targeting properties in high-growth areas with potential for significant residential or commercial development. The company evaluates market trends to maximize returns on investments.
Products and Services
1. Custom Home Building Services: Harbor Custom Development offers a range of custom home building services that allow clients to be involved in the design and building process. This includes consultations, architectural planning, and construction management to create a tailored home experience.
2. Development Consulting: The company provides consulting services for other developers and property owners, utilizing its expertise in zoning, land use regulations, and permitting processes. This service helps clients navigate the complexities of real estate development, from initial concept through to project completion.
3. Project Management: Harbor Custom Development offers project management services that oversee the entire development process. This includes scheduling, budgeting, procurement, and coordination of trades, ensuring that projects remain on track and on budget while maintaining quality standards.
4. Sales and Marketing of Properties: The companys sales and marketing teams are dedicated to promoting new developments and helping buyers navigate the purchasing process. This involves strategic marketing campaigns, open houses, and personal consultations to ensure potential buyers have access to all necessary information.
5. Sustainability Initiatives: There is an emphasis on incorporating sustainable building practices into their projects. The company strives to use eco-friendly materials, energy-efficient designs, and sustainable land development practices. This commitment to sustainability helps in meeting the growing consumer demand for environmentally friendly homes.
International Operations
While Harbor Custom Development primarily focuses on the U.S. market, particularly in the Pacific Northwest, there have been indications of interest in exploring international operations. This expansion could manifest in several ways:
1. Market Research and Feasibility Studies: The company may undertake comprehensive market research in potential international markets to assess demand for residential and commercial developments. This would involve evaluating local regulations, economic conditions, and housing needs.
2. Strategic Partnerships: Harbor Custom Development might consider forming partnerships or joint ventures with local developers in international markets. These partnerships can leverage local knowledge and expertise while sharing the financial risks associated with international projects.
3. Exporting Expertise: The company could explore opportunities to provide consulting services internationally, advising foreign developers on project management, custom home building, and sustainable development practices based on their successful U.S. operations.
4. Acquisition of Land: There may be opportunities for acquiring land in burgeoning international markets that show potential for growth. This would be in line with their investment strategy of targeting high-potential areas for development.
Overall, Harbor Custom Development, Inc. is positioned as a diverse player in the real estate development industry, with a strategic focus on quality home building and community development. Their commitment to sustainability and innovative design plays a crucial role in their offerings, and potential international operations could further broaden their market reach and development capabilities.