New Home Sales Momentum Continues Across The Howard Hughes
Corporation® Portfolio
HOUSTON, Aug. 1, 2023 /PRNewswire/ -- Two award-winning
communities of The Howard Hughes Corporation® (NYSE:
HHC)—Summerlin® in Las Vegas, NV,
and Bridgeland® in the Greater Houston,
TX area—ranked among the country's best-selling master
planned communities, according to a mid-year report released by
national real estate consultant RCLCO. Summerlin ranked #5 on the
RCLCO list with 544 new homes sold during the first half of 2023
and continues to be Nevada's
top-selling MPC. Bridgeland ranked #6 nationwide, with 511 new
homes sold by mid-year, and is one of the top-selling communities
in Texas.
"Howard Hughes communities offer
an exceptional quality of life with unmatched amenities in
beautiful, natural settings," said David
O'Reilly, Chief Executive Officer of The Howard Hughes
Corporation. "Our residents enjoy an active, outdoor lifestyle, top
schools, short commutes, and a vibrant selection of entertainment
and cultural experiences. The ongoing demand for new homes in
Summerlin and Bridgeland speaks to the tremendous appeal of
Howard Hughes communities and the
variety of options for homeownership that we offer."
SUMMERLIN
Now in its 33rd year of
development, Summerlin continues to be the top-selling community in
Nevada. "Summerlin's success is in
large part due to its thoughtful master plan that established
design guidelines that have stood the test of time—and a robust
infrastructure that includes more amenities than any other
Southern Nevada community," said
Frank Stephan, President of the
Nevada Region for The Howard Hughes Corporation. "Our roster of the
nation's premier homebuilders has provided homes in all styles,
price points and elevations to meet the ever-changing needs and
preferences of residents and families attracted to Summerlin's
outstanding lifestyle—including outdoor activities, business
opportunities, educational offerings and more that help distinguish
Summerlin as one of the top-selling communities in the
country."
With thousands of acres left to develop, Summerlin continues its
trajectory of growth with home sales continuing to be driven
by the burgeoning Summerlin West
area, currently home to 15 actively selling neighborhoods, situated
on elevated topography that overlooks the Las Vegas valley to the east.
Another driver of home sales is the continuing evolution of
Downtown Summerlin, the community's walkable urban center. With
major sports venues like City National Arena and Las Vegas
Ballpark®, Class-A office buildings, 125-plus retail and restaurant
brands, as well as a growing number of luxury apartments, Downtown
Summerlin welcomed more than 20 million visitors in 2022,
surpassing the average annual attendance of Disneyland.
"The Howard Hughes Corporation continues to hit a home run with
Summerlin," says Gregg Logan,
Managing Director, RCLCO, noting that Summerlin is in the company
of only a handful of communities nationwide that have enjoyed
remarkable and sustained sales success over decades—appearing on
our annual best-selling list 25 times since we started publishing
in 1994.
BRIDGELAND
Bridgeland is on pace in 2023 to exceed its
record for annual home sales in the community, where residents
enjoy access to more than 3,000 acres of parks, lakes, trails and
green space—including a park or green space within one-quarter mile
of every home—along with many of Northwest Houston's top-rated schools and
expanding job opportunities.
Residential sales are currently underway for Creekland
Village—Bridgeland's fourth residential village set for a grand
opening this fall—paving the way for the development of Bridgeland
Central, the planned 925-acre urban hub, whose first phase of
commercial development, now underway, includes Bridgeland's first
H-E-B supermarket as well as restaurants, shops and various
neighborhood service providers, along with Houston's first mass timber office building,
which will be built by The Howard Hughes Corporation.
"Since the recent start of the development of Bridgeland Central
we have seen a surge in home sales and are on track to have a
record-breaking sales year," said Steve
Sams, Senior Vice President, MPC Residential for The Howard
Hughes Corporation. "Bridgeland Central is positioned to
transform not just the Bridgeland community, but the entire
Northwest Houston region with the
ultimate delivery of retail, office, multifamily, dining,
hospitality and entertainment offerings."
RCLCO's report names the Houston MSA (metropolitan statistical
area) as the top-performing metropolitan area on its list—which
also reports that Texas, along
with Florida, are responsible for
80% of sales within the nation's top-selling MPCs.
About
Summerlin®
Developed by The Howard
Hughes Corporation®, 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 more than 115,000 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 Master Planned Community of the Year for 2020 by
the National Home Builders Association. For additional information,
visit Summerlin.com.
About
Bridgeland®
Bridgeland is an
11,500-acre master planned community located in Cypress, Texas, and is ranked as one of the
top-selling master planned communities in the Greater Houston area, as well as Texas and the nation. The award-winning
development opened in 2006 and offers a wide variety of housing
options and extensive outdoor amenities, with a strong emphasis on
conserving and enhancing the natural environment. Bridgeland, a
LEED Pre-certified community, has over 3,000 acres dedicated to
lakes, trails and parks, and offers resort-style pools, 60 parks,
stocked lakes and complimentary use of kayaks, paddleboats and
other recreational opportunities for residents to promote a healthy
and active lifestyle. Lakeland Village Center® is the first of four
retail centers in Bridgeland, with additional plans for Bridgeland
Central, a 925-acre future town center. Bridgeland is a community
of The Howard Hughes Corporation®, which supports over
180 local causes in the Houston
region through its HHCares program. For more information,
visit Bridgeland.com.
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 in New York City; Downtown Columbia® in Maryland; The
Woodlands®, Bridgeland® and The
Woodlands Hills® in the Greater Houston, Texas area;
Summerlin® in Las
Vegas; Ward
Village® in Honolulu, Hawaiʻi; and Teravalis™ in the
Greater Phoenix, Arizona area. 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.
Media Contact
Cristina
Carlson, 646-822-6910
SVP, Head of Corporate Communications
cristina.carlson@howardhughes.com
Investor Relations
Eric
Holcomb, 281-475-2144
SVP, Investor Relations
eric.holcomb@howardhughes.com
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SOURCE The Howard Hughes Corporation