Harcourt Developments wins €15m US development contract

Irish property company to redevelop disused industrial site in Washington state

Washington state: Port of Bellingham and Harcourt had been in talks for more than a year

Washington state: Port of Bellingham and Harcourt had been in talks for more than a year

 

Irish property company Harcourt Developments could start work on a major project in the US shortly, after winning a €15 million contract in Washington state.

The Port of Bellingham has formally awarded the Irish company a contract to redevelop a disused industrial site as a shopping, business and residential centre.

A unanimous vote of all three Port of Bellingham commissioners late on Tuesday night sealed the agreement with Harcourt.

According to local media reports, Harcourt’s sales director, Pat Power, indicated that the developer wanted to begin work on the initial phase, the redevelopment of an old granary, right away.

Under the contract’s terms, Harcourt will buy the 7.6 hectare site in stages and redevelop it in line with plans agreed with the port authority.

The Irish company will buy the property at $20 per square foot, which works out a total of about €15 million at current exchange rates.

Port of Bellingham and Harcourt had been in talks for more than a year before agreeing the deal.