- Harbor Custom Development will accept bitcoin for its real estate properties.
- The company said the integration would be facilitated by a third party, who would also manage an escrow agreement.
- Harbor operates in Washington, California, Texas and Florida.
Real estate development company Harbor Custom Development Inc. will begin accepting bitcoin as payment for its listed land, developed lots, residential homes, condominiums and apartments in four U.S. states, according to a press release Monday.
“We embrace the technological advances in our industry and seek to guide their impact in the future,” Jeff Habersetzer, COO of Harbor Custom Development, said in a statement. “Harbor is thrilled to be the first national homebuilder and real estate developer to introduce our portfolio to the global cryptocurrency market with over 200 million users.”
Harbor is involved in all aspects of the land development cycle, including land acquisition, rights, project infrastructure construction, home construction, marketing, sales and management of various residential projects. The company operates in Washington, California, Texas and Florida.
Harbor said it would accept cryptocurrency payments through a third-party company that would handle the conversion to US dollars and hold the funds in escrow until the deal closes. Despite accepting bitcoin and other cryptocurrencies, Harbor sales will still be denominated and settled in US dollars.
Sterling Griffin, Chairman and CEO of Harbour, said it was a “significant step forward for the company” to offer its real estate products and services to individuals and institutions holding cryptocurrency. cash.
Harbor said it is focusing its efforts on acquiring land with “scenic views” to develop and sell residential properties within a 20 to 60 minute drive of some major US metropolitan centers. Its residential projects, including apartments, condominiums, single-family homes and luxury homes, are currently centered around the Puget Sound area in western Washington; Sacramento, California; Austin, TX; and Punta Gorda, Florida.