Global Energy Leader's Expansion
into Bridgeland® Signals
Growth of Emerging Urban Hub in One of the Nation's Top-Selling
Master Planned Communities
HOUSTON, Sept. 5,
2023 /PRNewswire/ -- Howard Hughes Holdings Inc.
(NYSE: HHH) announced today that Chevron U.S.A. Inc. has purchased over 77 acres in
Bridgeland Central®, the award-winning master planned
community of Bridgeland®. The acquisition
signals continued growth for the Howard Hughes community and
the commercial development of Bridgeland Central, the emerging
925-acre urban hub positioned to transform Bridgeland and the
Northwest Houston region.
"Chevron's acquisition marks a pivotal moment for Bridgeland as
the community enters its next phase of development as a leading job
center for the region," said Jim
Carman, President of the Houston Region for Howard Hughes.
"One of the top-selling communities in the country, Bridgeland is
poised to benefit from the influx of businesses and their employees
seeking to live and work in a centralized location that offers
commercial opportunities as well as single-family and multifamily
housing options to meet growing demand."
Bridgeland is on track to experience a record-setting pace in
home sales for the year, reflecting the growth of the community and
the increased demand for office, retail, dining, medical,
hospitality and entertainment.
"Chevron is attracted to the opportunities Bridgeland has to
offer and views this acquisition as a strong addition to our asset
portfolio," said Daniel Abate, Head
of Corporate Real Estate for Chevron. "We take pride in
contributing to the communities where we live and work and are
excited about the potential of establishing a research and
development campus in Bridgeland to advance our work toward
achieving a lower carbon energy future."
The acquisition follows the recently announced first phase of
Bridgeland Central with the start of construction of Village Green
at Bridgeland Central®, which will include the
community's first H-E-B grocery store and the first mass timber
office development for both Howard Hughes and the 12-county
Greater Houston area.
"Howard Hughes communities stand out for their business-friendly
environment with ample build-to-suit opportunities that provide
companies the flexibility and potential for growth that is critical
in today's evolving landscape," said David
R. O'Reilly, Chief Executive Officer of Howard Hughes.
"Across the country, our communities provide an unrivaled quality
of life for all generations—which is imperative as companies strive
to attract and retain top talent. Our Houston region is a growing hub for leading
companies that are innovating in energy, technology, life
sciences and other industries that are shaping the future of the
new economy."
Following in the tradition of Howard Hughes communities such as
Summerlin® in Nevada;
Downtown Columbia® in
Maryland; and The Woodlands® in Texas, Bridgeland is attracting industry
leaders with its vibrant, walkable, mixed-use town center which
will feature commercial and residential offerings integrated into a
natural landscape with parks, lakes, trails and open space.
About Bridgeland®
Bridgeland is an 11,500-acre master planned community located in
Cypress, Texas, and is ranked as
the sixth top-selling master planned community in the nation and
second in Texas. The award-winning
community 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, 70 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®, an emerging 925-acre
urban hub. Bridgeland is a Howard Hughes
community and supports over 180 local causes and
charitable organizations in the Houston region through the company's HHCares
program. For more information, visit Bridgeland.com.
About Howard Hughes Holdings Inc.
Howard Hughes Holdings Inc. 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 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. Howard Hughes Holdings Inc. is
traded on the New York Stock Exchange as HHH. 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 filings made by Howard Hughes Holdings Inc. with the
Securities and Exchange Commission, including its Quarterly and
Annual Reports. Howard Hughes Holdings Inc. cautions you not to
place undue reliance on the forward-looking statements contained in
this release. Howard Hughes Holdings Inc. 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.
MEDIA CONTACTS
Howard Hughes
Cristina Carlson, 646-822-6910
Senior Vice President, Head of Corporate Communications
cristina.carlson@howardhughes.com
Eric Holcomb, 281-475-2144
Senior Vice President, Investor Relations
eric.holcomb@howardhughes.com
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SOURCE Howard Hughes Holdings Inc.