Thursday, September 22, 2016
Black Knight Sports & Entertainment, LLC and The Howard Hughes Corporation® Sign Ground Lease in Summerlin®
for Las Vegas NHL Franchise Practice Facility
Black Knight Sports & Entertainment, LLC, along with The Howard Hughes Corporation®, announced today the signing of a 20-year ground lease to build a practice facility for the newly awarded NHL franchise in Las Vegas.
The two-rink practice facility will be built on a 4.6 acre parcel located in Summerlin®, a master-planned community in Las Vegas developed by The Howard Hughes Corporation. Summerlin has ranked among the best-selling master-planned communities in the country for much of its 26 years and was named in 2014 by Money magazine as one of the “Best Places to Live in America.” Groundbreaking on the new facility is expected to take place later this month with a tentative completion date set for August 2017.
The practice facility is located in Downtown Summerlin® just east of Pavilion Center Drive and south of Griffith Peak Drive. Downtown Summerlin is the 400-acre urban core of Summerlin. Its 106-acre outdoor dining, retail and entertainment destination opened in 2014 and is today home to more than 125 brands. Attracting more than one million visitors each month, Downtown Summerlin has well established itself as a popular destination for residents throughout Clark County.
“It’s an honor for our area’s new NHL team to establish its practice facility in Downtown Summerlin where the community can easily connect with the team, as well as enjoy youth hockey, men's tournament hockey, figure skating and more,” said Kevin Orrock, president of Summerlin for The Howard Hughes Corporation. “The addition of our city’s first professional sports franchise is a great fit for Downtown Summerlin and further strengthens Summerlin’s position as southern Nevada’s premier community.”
“Our hockey club is very appreciative of the commitment made by The Howard Hughes Corporation in conjunction with the development of our practice facility,” said Bill Foley, the NHL franchise’s majority owner. “This facility will be a giant step in the development of an expanded youth hockey and adult league program in Clark County. We would like to thank and acknowledge the leadership of the Clark County Commission, and in particular, Chairman Steve Sisolak and Commissioner Susan Brager, for their support.”
“A new ice age is dawning, and it isn’t just hockey fans who will rejoice,” said Steve Sisolak, chairman of the Clark County Commission. “This practice facility is where Bill Foley’s athletes will learn to gel as a team and work toward eventually bringing the Stanley Cup home to Las Vegas. During the off-season, it will serve as another kind of community jewel as an ice skating center open to the public, right next to an enticing array of restaurants and shops at Downtown Summerlin. They complement each other perfectly, and all of Las Vegas benefits. I can’t wait to see the doors open.”
Clark County Commissioner Susan Brager, who has one grandson on the UNLV ice hockey team and another who played hockey in college, noted how pleased she was about future team practices being held in Summerlin. “I am so proud that a facility of this importance to Clark County is being constructed here in District F,” she said. “Having a professional sports team right in our own backyard is a point of civic pride and an effort the entire community can rally behind.”
The Las Vegas NHL franchise will begin play in the 2017-2018 season.
Visit www.summerlin.com for more information or find them on Facebook, Twitter and Instagram. For information on Downtown Summerlin, visit www.downtownsummerlin.com or follow them at Facebook, Twitter and Instagram.
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 7,000 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 more than 100,000 residents who enjoy an unparalleled list of amenities. These include more than 150 neighborhood and village parks, more than 150 completed miles of trails, 22 public and private schools, 14 houses of worship, nine 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 $300,000s to more than $2.5 million. For information on custom homesites in The Ridges please call 702.255.2500. Luxury apartment homes offer monthly rents starting from the $900s.
About Downtown Summerlin®
Downtown Summerlin is part of a planned urban center, serving the entire Las Vegas Valley. It includes retail, entertainment, office, hotel and multi-family residential elements, all designed to create a vibrant, walkable urban core within the 22,500-acre master planned community of Summerlin. In October 2014, the expansive, 106-acre, 1.4 million square foot Downtown Summerlin, which represents the first phase in the future downtown, opened to the public. Downtown Summerlin features more than 125 stores and restaurants in a streetscape-shopping environment with pedestrian thoroughfares and dynamic storefronts in the center of the award-winning Summerlin master planned community. Located just east of the 215 Beltway, between Sahara Avenue and Charleston Boulevard, the development also includes a nine-story office building, One Summerlin. Additional information can be found on the website at www.downtownsummerlin.com or on Facebook and Twitter.
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 16 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, or find us on Facebook, Twitter, Instagram, and LinkedIn.
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.