PORT LUDLOW — The new owners of Port Ludlow will build a dozen new houses this coming year, but have plans for hundreds more in the coming years.
Port Ludlow Associates Inc. President Greg McCarry and Project Manager Mark Dorsey outlined their plans Thursday before the Port Ludlow Village Council.
The company, a subsidiary of HCV Pacific Partners of San Francisco, purchased Port Ludlow last year from the Pope Resources timber company.
Dorsey said the company plans to be ready to build as many as 69 houses by this time next year.
“We have a dirth of product now,” Dorsey said. “We need to get these 42 lots on line (referring to tracts in the Olympic Terrace subdivision south of Ludlow Bay).
“Then we’ll look at the absorption (sale) rates, and depending on the economy and the absorption rates, we’ll begin looking at other projects.”
The rest of this story appears in the Friday/Saturday Peninsula Daily News Jefferson County edition. Click on “Subscribe” to get the PDN delivered to your home or office.