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
View original content to download multimedia:https://www.prnewswire.com/news-releases/rclco-ranks-summerlin-and-bridgeland-among-nations-best-selling-master-planned-communities-in-2023-mid-year-report-301890023.html
SOURCE The Howard Hughes Corporation
