HOUSTON, Jan. 5, 2022 /PRNewswire/ -- Summerlin® and
Bridgeland®, two of the award-winning master planned communities
(MPCs) of The Howard Hughes Corporation® (NYSE: HHC) have been
ranked among the country's top-selling MPCs for 2021, according to
a report released by RCLCO, the national real estate consultant.
Summerlin, in Las Vegas, has
ranked #3 for the fourth year in a row on the annual list and is
once again the highest-ranking MPC in Nevada, showing an increase in yearly home
sales of over 13 percent, with 1,619 new homes sold in 2021.
Bridgeland was the top-selling MPC in the Greater Houston Region
and ranked #2 in Texas.
"RCLCO's report speaks to the consistent and growing demand for
new homes across the country and as the developer with the nation's
largest portfolio of MPCs, we are seeing a great influx of people
and businesses into our communities as they seek an exceptional
quality of life," said David
O'Reilly, CEO of The Howard Hughes Corporation. "We continue
to accelerate development within our MPCs to provide the market
with sought-after, amenity-rich, walkable urban environments."
Summerlin
According to Karl Pischke, principal with RCLCO Consulting,
which has been ranking MPCs since 1994, Summerlin leads all
actively ranked MPCs in total appearances on the national
best-selling MPC list, with over 25 years ranking within the top
25. That includes a top-ten appearance each year from 1994 to 2007,
followed by a top-ten appearance each year since 2015, and a
top-three appearance in each of the past four years. "That's a very
impressive run and a distinction held by no other MPC in the
country," said Pischke.
"Summerlin continues its remarkable story of enduring success
with another year of strong momentum in sales and new development
that keeps this exceptional community appealing to homebuyers,
businesses and investors," said Kevin T.
Orrock, President, Las Vegas Region, The Howard Hughes
Corporation. "Particularly as Downtown Summerlin continues to
expand its office offerings and capitalize on the national trend to
move workplaces closer to home, more residents will enjoy shorter
daily commutes, further enhancing overall quality of life."
Now entering its 32nd year of development, Summerlin delivers
more amenities than any other community in Southern Nevada. This includes more than 250
parks of all sizes; resident-exclusive community centers, pools and
events; 150-plus miles of interconnected trails; ten golf courses;
26 public, private and charter schools; a public library and
performing arts center; Summerlin Hospital Medical Center; houses
of worship representing a dozen different faiths; office parks;
neighborhood shopping centers; and, of course, Downtown Summerlin®,
offering fashion, dining, entertainment, Red Rock Resort, office
towers, City National Arena, home of the Vegas Golden Knights
National Hockey League practice facility, and Las Vegas Ballpark®,
a world-class Triple-A baseball stadium and home of the Las Vegas
Aviators®.
In total, Summerlin currently offers more than 115 floorplans in
20-plus neighborhoods throughout eight distinct villages and
districts. Homes, built by many of the nation's top homebuilders,
are available in a variety of styles—from single-family homes to
townhomes, priced from the high $300,000s to more than $1
million.
"We continue to see people and businesses moving to Summerlin to
take advantage of the outstanding quality of life that our
community provides," said Orrock. "We will continue to accelerate
development to meet the growing demand for residential land and
offer exceptionally high-quality product at every price point for
all segments of the market—from millennials to empty-nesters and
retirees. The price per acre of land at Summerlin continues to
increase, and momentum in new home sales is a great indicator of
what is to come for this incredible community."
Bridgeland
Bridgeland experienced strong sales
in 2021, resulting in 713 new home sales as growth continues in the
top-selling community in the Greater
Houston area, ranking #2 in Texas and #16 in the nation on RCLCO's annual
report.
"Homebuyers continue to seek out Bridgeland's high-performing
schools, outstanding amenities and expansive parks and trail
systems, driving the tremendous momentum we see year after year as
Bridgeland grows from over 17,000 today to ultimately 65,000
residents," said Heath Melton, President of the Phoenix Region
who has led residential development of master planned communities
for The Howard Hughes Corporation. "As we see the millennial
generation continue to be the leading demographic of home
purchasers in Bridgeland, we will accelerate development of a
wide range of housing options to meet the great demand for all that
Bridgeland offers."
Bridgeland is known for its forward-thinking design, focus on
health and wellness, and integration of the residential experience
with the surrounding ecosystem and extensive sustainability
features.
"Texas continues to be among
the most sought-after states in the country and when you look at
the great domestic migration that has been taking place as people
and business seek a low cost of living and high quality of life in
a business-friendly environment, it is easy to understand why
Bridgeland is the top-selling community in the Houston region," said Jim Carman, President of the Houston Region for
The Howard Hughes Corporation.
RCLCO cites strong optimism for 2022 and anticipates a big year
for MPCs with growing demand for new homes. The continued high
RCLCO rankings of Summerlin and Bridgeland exemplify the enduring
appeal of the lifestyle associated with the communities in The
Howard Hughes Corporation's portfolio.
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 5,500 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, 26 public and private schools, 14 houses of worship, ten
golf courses, Downtown Summerlin®, 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. Summerlin is recognized as one of
the country's premier locations to raise a family and to operate a
business, named MPC of the Year for 2020 by the National Home
Builders Association. For information on custom homesites in The
Ridges please call 702.255.2500. Luxury apartment homes offer
monthly rents starting from the $1,200s. Visit www.summerlin.com for more
information.
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 Texas and #14 in
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 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 help 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®,
Maryland; The Woodlands®, The
Woodlands Hills®, and Bridgeland® in the Greater Houston, Texas area; Summerlin®,
Las Vegas; Ward Village® in
Honolulu, Hawaiʻi; and
Douglas Ranch in Phoenix. 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.
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.
Contacts
The Howard Hughes Corporation
Cristina Carlson, 646-822-6910
Senior Vice President, Head of Corporate Communications
cristina.carlson@howardhughes.com
For HHC Investor Relations
John Saxon, 281-929-7808
Investor Relations Associate
john.saxon@howardhughes.com
Correne S. Loeffler,
281-929-7787
Chief Financial Officer
correne.loeffler@howardhughes.com
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SOURCE The Howard Hughes Corporation