SALT LAKE CITY-- The Howard Hughes Corporation (NYSE: HHC) announced today that Ivory Homes will be the master residential developer at Cottonwood, a 57-acre mixed-use redevelopment located only eight miles from downtown Salt Lake City. As the first pedestrian-friendly environment in the area, future Cottonwood residents will enjoy the ultimate in urban living given the dynamic shopping, dining, and entertainment options just steps away.


“We are pleased to partner with Utah’s leading residential builder for the Cottonwood redevelopment,” said Grant Herlitz, President of The Howard Hughes Corporation. “These new residences will offer a wide range of options that appeal to those seeking a vibrant, urban community lifestyle that are in great demand but have not been seen previously in Holladay.”

As the master residential developer of the Cottonwood development, Ivory Homes will partner with its sister entity, ICO (Ivory Commercial and Multi-Family), that specializes in condominiums and multi-family to create a vibrant community consisting of over 600 residences ranging from single family homes to apartments and condominium residences. Ivory Homes and ICO have worked together to design a comprehensive residential plan that complements the commercial and retail portions of the Cottonwood master plan.

Future residents will enjoy an unmatched variety of options including for-rent and for-sale residences with exclusive amenities. The full range of residential offerings will include apartments, condominiums, townhomes and cottages as well as estate and luxury homes.

“We are excited to team up with the professionals at The Howard Hughes Corporation to bring this spectacular development to the Holladay area. With Holladay being home to the Ivory family for several decades, this flagship development provides an opportunity to further contribute to the quality and success of the community. It will bring many amenities to the area together with a variety of housing options. This is an incredible residential location that will generate lasting value,” said Clark Ivory, CEO Ivory Homes.

About Ivory Homes

Ivory Homes is Utah’s largest home builder and has been celebrated as Utah’s Number One Homebuilder for 26 consecutive years. Ivory Homes currently has 68 communities and over 40 model home locations. Ivory Homes offers a variety of floor plans and designs to fit lifestyle and personal needs including active adult communities, townhomes, condominiums and single family homes from affordable to luxury.

About The Howard Hughes Corporation®

The Howard Hughes Corporation owns, manages and develops commercial, residential and mixed-use real estate throughout the U.S. Our properties include master planned communities, operating properties, development opportunities and other unique assets spanning 16 states from New York to Hawai‘i. The Howard Hughes Corporation is traded on the New York Stock Exchange as HHC and is headquartered in Dallas, TX. For additional information about HHC, visit

Safe Harbor Statement

Statements made in this press release that are not historical facts, including statements accompanied by words such as “will,” “believe,” “expect,” “enables,” “realize,” “plan,” “intend,” “transform” and other words of similar expression, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s expectations, estimates, assumptions, and projections as of the date of this release and are not guarantees of future performance. Actual results may differ materially from those expressed or implied in these statements. Factors that could cause actual results to differ materially are set forth as risk factors in The Howard Hughes Corporation’s filings with the Securities and Exchange Commission, including its Quarterly and Annual Reports. The Howard Hughes Corporation cautions you not to place undue reliance on the forward-looking statements contained in this release. The Howard Hughes Corporation does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release.


Caryn Kboudi, 214-741-7744


Source: The Howard Hughes Corporation