RCLCO Mid-Year Report Ranks Summerlin® and Bridgeland® Among Nation’s Top-Selling Master Planned Communities
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“The inclusion of two Howard Hughes communities in the top ten best-selling MPCs in RCLCO’s mid-year report is a testament to the exceptional high-quality lifestyle that they offer,” said David O’Reilly, Chief Executive Officer of Howard Hughes. “Our year-to-date increase in total home sales across the portfolio solidifies our expectation that 2024 will be the best year for residential land sales in the history of Howard Hughes. Our impressive mid-year results show a 163% increase in residential land sales revenues and a 35% increase in average price per acre compared to our 2023 mid-year results. Despite high interest rates and national headlines propagating a misleading singular picture of the housing sector, the communities across our national portfolio are delivering strong year-over-year improvement.”
SUMMERLIN
Spanning 22,500 acres, Summerlin continues to be one of the most sought-after and best-selling communities in the country, offering over 127,000 residents unparalleled access to nature and expansive commercial amenities in a business-friendly environment. The local job market has grown over two times faster than the national average, as recent corporate relocations and expansions by technology companies, sports teams, and entrepreneurs working across a variety of industries have attracted a workforce seeking an affordable, high-quality lifestyle.
Summerlin offers the greatest variety of housing options in the Las Vegas Valley—with 70 floor plans selling in nearly 20 neighborhoods at different price points and styles from some of the nation’s top builders—driving sizeable residential growth. Thanks to a heightened demand for new housing, Summerlin anticipates another record-breaking year for residential land sales to homebuilders in 2024 as well as continued strong demand for commercial amenities. In its 34th year of development, Summerlin has nearly 3,000 acres of raw land remaining, with three new commercial cores under planning and development throughout the community.
BRIDGELAND
Bridgeland is on pace in 2024 to meet or exceed its record for annual home sales set in 2023. The community continues to demonstrate significant and transformative growth that is expanding the urban landscape of the Houston region, attracting residents with access to more than 3,000 acres of parks, lakes, trails and green space within a quarter mile of every home, as well as top-rated schools and expanding job opportunities.
Residential home sales include a diverse range of home designs and price points throughout the community, including Creekland Village®, Parkland Village®, and Prairieland Village®, as well as the 925-acre urban district of Bridgeland Central®, which is emerging as a dynamic residential and commercial hub for
According to the RCLCO report, sales among the country’s top master planned communities outperformed the broader new home market, as people are choosing communities that are highly amenitized, offer an exceptional quality of life, a variety of housing options, and short commutes.
About Summerlin®
Summerlin began to take shape in 1990 and has ranked in the country's top 10 best-selling master planned communities for nearly two decades. Located along the western rim of the Las Vegas valley, Summerlin encompasses 22,500 acres with approximately 5,000 gross acres remaining to accommodate future growth, including infrastructure, open space and common areas, all within the master plan. The community is currently home to nearly 127,000 residents who enjoy an unparalleled list of amenities. These include more than 300 neighborhood and village parks, more than 200 completed miles of trails, 26 public and private schools, 14 houses of worship, ten golf courses, shopping centers, medical and cultural facilities, business parks and dozens of actively selling floor plans. Homes are available in a variety of styles—from single-family homes to townhomes—with offerings in a wide price range, including custom homesites in The Ridges. Summerlin is recognized as one of the country's premier locations to raise a family and to operate a business, named MPC of the Year for 2020 by the
About Bridgeland®
Bridgeland is an 11,500-acre master planned community located in
About
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Contacts:
Media Relations
Senior Vice President, Head of Corporate Communications
cristina.carlson@howardhughes.com
Investor Relations
Senior Vice President, Investor Relations
eric.holcomb@howardhughes.com
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Summerlin®, a Howard Hughes community in Las Vegas
Summerlin®, a Howard Hughes community in Las Vegas
Bridgeland®, a Howard Hughes community in the Greater Houston area
Bridgeland®, a Howard Hughes community in the Greater Houston area
Source: Howard Hughes Holdings Inc.