Press Releases

Hughes Landing to Include Office Buildings, Retail, Hotel, Multi-Family Residential

Loans Support Expanding Development at Fast Growing, Award-Winning Master Planned Community

First Quarter Highlights First quarter 2012 net income was $9.6 million, excluding the $(121.9) million non-cash warrant loss, compared to first quarter 2011 net income of $11.5 million, excluding the $(126.0) million non-cash warrant loss. First quarter 2012 net loss was $(112.3) million inclusive of the non-cash warrant expense compared to first quarter 2011 net loss of $(114.5) million. Master Planned Community land sales were $35.4 million for first quarter 2012, compared to $43.8 million for first quarter 2011. Net operating income for our income-producing Operating Assets was $14.9 million for first quarter 2012, compared to $12.8 million for first quarter 2011. Completed a $43.3 million non-recourse financing for, and began construction on, 3 Waterway Square, a 232,774 square foot office building in The Woodlands, which is 74% pre-leased. Howard Hughes announced Paul Layne has joined the company as Executive Vice President, Master Planned Communities.

Seasoned Executive to Lead Strategic Planning at The Woodlands, Bridgeland and Summerlin