Press Releases

First quarter 2011 net income was $11.5 million, excluding the $126.0 million non-cash charge relating to an increase in estimated value of the Company’s warrants, compared to net loss of $(20.5) million for the same period in the prior year. First quarter 2011 net loss was $(114.5) million inclusive of the non-cash warrant expense. Master Planned Community land sales, including our share of the sales at The Woodlands joint venture, were $34.3 million for first quarter 2011, compared to $15.1 million for first quarter 2010. Net operating income for our Operating Assets was $13.5 million for first quarter 2011, compared to $10.6 million for first quarter 2010. Howard Hughes announces hiring of General Counsel, Senior Vice President to lead Maryland, Virginia and New Jersey Developments and Senior Vice President to lead Hawaii.