The Howard Hughes Corporation® Master Planned Communities Rank Among The Top-Selling In The Country
DALLAS, July 18, 2019 /PRNewswire/ -- The Howard Hughes Corporation ® (NYSE: HHC) is proud to announce that two of its communities, Summerlin ® in Las Vegas and Bridgeland® in the Greater Houston area, have ranked among the top-selling master planned communities (MPCs) in the country, according to the recent release of RCLCO's 2019 Mid-Year Report . This affirms the company's continued excellence in developing communities, with Summerlin appearing at number four in the mid-year rankings, following three consecutive years in the top five for year-end sales, and Bridgeland jumping seven spots to number eleven after posting year-over-year growth of 35%.
"At Howard Hughes, we have a leading track record of developing some of the country's most dynamic small cities and have been able to apply our recipe of design, amenities, and lifestyle to create outstanding places to live across our portfolio," said David R. Weinreb, CEO of The Howard Hughes Corporation. "We are pleased with the year-to-date home sales in our MPCs as they are an ongoing validation of our vision to deliver communities with unique experiences and exceptional amenities for our residents, like the Las Vegas Ballpark in Summerlin and the highly-ranked Bridgeland schools."
The Howard Hughes Corporation has a long history of developing and operating a distinguished portfolio of small cities that are their own ecosystems—communities that together span more than 80,000 acres, house over 342,000 residents and support more than 160,000 jobs.
Summerlin is currently home to more than 100,000 residents and encompasses 22,500 acres with approximately 6,000 gross acres still remaining to accommodate future growth within the master plan. Summerlin residents enjoy an unparalleled list of amenities. These include more than 250 neighborhood and village parks, more than 150 completed miles of trails, 25 public and private schools, 14 houses of worship, ten golf courses, shopping centers, medical and cultural facilities, and business parks. In addition, the community of Summerlin boasts Downtown Summerlin®, which opened in 2014 and is home to over 125 retailers and restaurants. The recent opening of Las Vegas Ballpark®, home of the Las Vegas Aviators®, the city's first Triple-A professional baseball team, further established Downtown Summerlin as a top destination for the greater Las Vegas area and beyond, with retail traffic up 11% year over year.
Bridgeland has received over 100 awards since opening in 2006. The 11,400-acre community includes 3,000 acres of lakes, parks and trails, and over the last decade has quickly become one of Houston's leading master planned communities with 3,500 homes and 11,000 residents as Houston continues its strong growth. With less than 25% of the total saleable acreage developed to date, the community of Bridgeland is well positioned for long-term residential and commercial growth to meet the needs of the 65,000 residents projected to live in the community.
About The Howard Hughes Corporation®
The Howard Hughes Corporation owns, manages and develops commercial, residential and mixed-use real estate throughout the U.S. Its award-winning assets include the country's preeminent portfolio of master planned communities, as well as operating properties and development opportunities including: the Seaport District in New York; Columbia, Maryland; The Woodlands®, The Woodlands Hills, and Bridgeland® in the Greater Houston, Texas area; Summerlin®, Las Vegas; and Ward Village® in Honolulu, Hawaiʻi. The Howard Hughes Corporation's portfolio is strategically positioned to meet and accelerate development based on market demand, resulting in one of the strongest real estate platforms in the country. Dedicated to innovative placemaking, the company is recognized for its ongoing commitment to design excellence and to the cultural life of its communities. The Howard Hughes Corporation is traded on the New York Stock Exchange as HHC. For additional information visit www.howardhughes.com.
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," "assume," "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.
The Howard Hughes Corporation
Vice President, Corporate Communications and Public Relations
For Investor Relations
Chief Financial Officer
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SOURCE The Howard Hughes Corporation