Howard Hughes Corp. to Add 2 MSF of New Development Across Four Master-Planned Communities
HOUSTON — The Howard Hughes Corp. (NYSE: HHC) has unveiled plans to add approximately 2 million square feet of new development across four of its master-planned communities in Las Vegas; Cypress, Texas; Columbia, Md.; and Honolulu.
At Summerlin, which is located along the western rim of the Las Vegas valley, Howard Hughes has planned 1700 Pavilion, a 10-story office building. The Class A property will span 267,413 square feet and offer views of the entire valley. Additionally, the company will build Tanager Echo, the second phase of the Tanager luxury apartments. The 295-unit apartment complex will be situated on nearly three acres.
Touchless entry and enhanced air filtration will be featured throughout both projects, which will be built simultaneously. Construction is expected to begin in the second quarter with completion slated for late 2022.
At Bridgeland in Cypress, Texas, Howard Hughes has started construction of Starling at Bridgeland. The 358-unit apartment project is the first multifamily development to be built in Bridgeland Central, the 900-acre future town center. Starling at Bridgeland will incorporate extensive fitness features and will be located within walking distance of Josey Lake. Completion is slated for summer 2022.
Howard Hughes is set to break ground this month on Marlow, the second residential property at Downtown Columbia in the Merriweather District of Columbia, Md. Marlow will feature 472 apartment units and 32,000 square feet of retail space. Initial occupancy is scheduled for the fourth quarter of 2022.
Lastly, the developer will break ground later this month on Victoria Place, the seventh residential tower at Ward Village in the heart of Honolulu. The project will encompass 350 units as well as a new public park. Howard Hughes plans to transform concrete and aging industrial space into more than 120,000 square feet of parks and 48,000 square feet of open space.
“These new developments are in direct response to the trends we saw accelerate in 2020 — a flight to quality and a focus on health and wellness as people and companies look for walkable, amenity-rich neighborhoods integrated into natural settings with significant open space,” says David O’Reilly, CEO of Howard Hughes.
Houston-based Howard Hughes owns, manages and develops commercial, residential and mixed-use properties throughout the United States. The company’s stock price opened at $88.70 per share Wednesday, Feb. 3, down from $121.91 per share one year ago.
— Kristin Hiller