Saturday, January 6, 2018

FOR SUMMERLIN, 2017 A YEAR FOR THE RECORD BOOKS WITH MILESTONE DEVELOPMENTS

THAT INCLUDE EMERGING FOCUS ON SPORTS, BUSINESS

The year 2017 was one for the record books for The Howard Hughes Corporation® and its Summerlin® master-planned community (MPC) with a number of milestone developments that include an emerging focus on sports and business, strong home sales and the addition of several new major amenities, including schools, parks and a golf course.

Community development highlights for 2017 included:

  • The opening of ten new neighborhoods and two new villagesStonebridge and Reverence by Pulte Homes;
  • The addition of two new public elementary schools in The Cliffs and Paseos villages, bringing the total number of schools in Summerlin to 25;
  • Major milestone developments in the Downtown Summerlin® area, including completion of City National Arena – practice facility of the Vegas Golden Knights, the announcement of Las Vegas Ballpark – a 10,000-capacity baseball stadium that will be the home of the Las Vegas 51s, commencement of construction on a second Class-A office tower and the long awaited opening of Crate and Barrel;
  • Commencement of construction on a 180,000-square-foot campus for Aristocrat Technologies, a global gaming leader;
  • Completion of the community’s tenth golf course, The Summit, a private championship course by Tom Fazio at the centerpiece of Summerlin’s newest luxury enclave by the same name; and
  • The opening of Fox Hill Park, an 18-acre adventure- and play-themed park with more than 20 unique play structures and disc golf. 

According to Kevin T. Orrock, President of Summerlin for The Howard Hughes Corporation, the community reached new home sales levels not experienced in more than ten years since 2006, and Summerlin is expected to finish on the top ten list of best-selling master-planned communities by national real estate consultant, RCLCO.

“Sports are also at the center of Summerlin’s evolution with the Vegas Golden Knights now calling Downtown Summerlin home and a future baseball stadium that will become the home of the Las Vegas 51s to be built adjacent City National Arena.  This is a very exciting time for Summerlin as its 400-acre urban core – Downtown Summerlin – is truly taking shape as a sports, entertainment and retail destination to be enjoyed by everyone in Southern Nevada.”

According to Orrock, demand for Class-A office space in the heart of vibrant suburban communities supports a growing trend to locate workplaces closer to home to shorten commute times and improve quality of life, and Summerlin is no exception. “Two Summerlin is another Class-A office tower in the Downtown Summerlin area and Aristocrat’s new campus near the 215 Beltway and Town Center Drive, are proof of that trend.”

Summerlin currently offers more than 180 floorplans in 36 neighborhoods in seven distinct villages and two custom home enclaves throughout the community. Homes are available in a variety of styles – from single-family homes to townhomes, priced from $250,000 to more than $1 million. And for those looking for quick occupancy, there are dozens of homes available for quick move-in.  Visit Summerlin.com for information.

CAPTION: The year 2017 was one for the record books for The Howard Hughes Corporation® and its Summerlin® master-planned community with a number of milestone developments that include an emerging focus on sports and business, strong home sales and the addition of several new major amenities, including schools, parks and a golf course.  Pictured here is City National Arena, practice facility of the Vegas Golden Knights, which opened at Downtown Summerlin this year.

 

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 6,000 gross acres still remaining to accommodate future growth, including infrastructure, open space and common areas, all within the master plan. The community is currently home to nearly 100,000 residents who enjoy an unparalleled list of amenities. These include more than 250 neighborhood and village parks, more than 150 completed miles of trails, 25 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– priced from the $250,000s to more than $1 million. For information on custom homesites in The Ridges please call 702.255.2500. Luxury apartment homes offer monthly rents starting from the $900s. Visit www.summerlin.com for more information.

About The Howard Hughes Corporation®

The Howard Hughes Corporation owns, manages and develops commercial, residential and mixed-use real estate throughout the U.S. Our properties include master planned communities, operating properties, development opportunities and other unique assets spanning 13 states from New York to Hawai‘i. The Howard Hughes Corporation is traded on the New York Stock Exchange as HHC with major offices in New York, Columbia, MD, Dallas, Houston, Las Vegas and Honolulu. For additional information about HHC, visit www.howardhughes.com.

Safe Harbor Statement

Statements made in this press release that are not historical facts, including statements accompanied by words such as “will,” “believe,” “expect,” “enables,” “realize”, “plan,” “intend,” “assume,” “transform” and other words of similar expression, are forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on management’s expectations, estimates, assumptions, and projections as of the date of this release and are not guarantees of future performance. Actual results may differ materially from those expressed or implied in these statements. Factors that could cause actual results to differ materially are set forth as risk factors in The Howard Hughes Corporation’s filings with the Securities and Exchange Commission, including its Quarterly and Annual Reports. The Howard Hughes Corporation cautions you not to place undue reliance on the forward-looking statements contained in this release. The Howard Hughes Corporation does not undertake any obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that arise after the date of this release.