The Howard Hughes Corporation® Welcomes Residents to ʻAʻaliʻi® with Opening of Fifth Mixed-Use Development at Honolulu's Ward Village®

Rhea-AI Summary

The Howard Hughes Corporation (NYSE: HHC) has welcomed residents to ʻAʻaliʻi, the fifth residential tower at Ward Village in Honolulu. Designed by Solomon Cordwell Buenz and Rottet Studio, this innovative tower features studio, one, and two-bedroom residences, prioritizing a contemporary urban island lifestyle. With 751 homes, including 150 for workforce housing, ʻAʻaliʻi enhances the community's amenities, including a retail streetscape and various leisure spaces. The sustained sales momentum indicates strong demand for new housing in Honolulu, positioning Ward Village as a premier mixed-use development.

Positive

• Introduction of ʻAʻaliʻi with 751 homes, including 150 dedicated for workforce housing.
• Sustained sales momentum with 91 units contracted in the first half of 2021.
• Enhanced community amenities including a new 11,000-square-foot retail streetscape.

Negative

• None.

HONOLULU, Oct. 6, 2021 /PRNewswire/ -- The Howard Hughes Corporation® (NYSE: HHC) announced today that it has begun welcoming residents to ʻAʻaliʻi ®, the fifth residential tower to be delivered in Ward Village®, further enhancing the 60-acre coastal master planned community's transformation of Honolulu's urban core. ʻAʻaliʻi is an innovative, smart-living residential tower that exemplifies the sought-after contemporary urban island lifestyle, offering design-conscious homes while helping to address the need for workforce housing in Honolulu.

Designed by award-winning architecture firm Solomon Cordwell Buenz in partnership with acclaimed interior designer Rottet Studio, ʻAʻaliʻi reimagines living space to empower residents with the flexibility, ease and convenience to focus on a quality, active outdoor lifestyle, with amenities designed to be an extension of one's home.

ʻAʻaliʻi offers studio, one- and two-bedroom residences which pair space-maximizing design with resort-style amenities. Optional "turnkey" packages have been thoughtfully curated with high-quality accessories and modern furniture packages tailor-made for each home. ʻAʻaliʻi provides each residence with its own private lānai, along with access to two levels of an indoor-outdoor penthouse-level Sky Deck offering 360-degree ocean and mountain views, as well as leisure and fitness amenities. Multiple indoor-outdoor activity and event spaces include a pool deck with barbecue areas, poolside cabanas, and keiki splash and play areas.

"ʻAʻaliʻi is the latest addition and fifth mixed-use development completed in Ward Village, which continues to mature and become an exceptional community," said David R. O'Reilly, Chief Executive Officer of The Howard Hughes Corporation. "The sustained sales momentum that Ward Village has seen—with ninety-one units contracted in the first half of 2021 despite travel restrictions to Hawaiʻi—is a testament to the outstanding quality and contemporary island lifestyle that Ward Village offers, along with the unique benefits of an integrated master planned community."

Ward Village is at the forefront of enduring and responsible community development—integrating striking architecture, dynamic retail, and an emphasis on public open spaces and parks. ʻAʻaliʻi was created to respond to strong market demand for new homes in Honolulu's walkable urban core, adjacent to Hawaiʻi's flagship Whole Foods Market and Ala Moana Beach Park.

"We're thrilled to welcome residents to their new homes in 'Aʻaliʻi as they become valued members of the Ward Village community," said Doug Johnstone, President, Hawaiʻi at The Howard Hughes Corporation. "In addition to its 751 homes, of which 150 are dedicated to meet the demand for workforce housing in Honolulu, ʻAʻaliʻi will introduce a new 11,000-square-foot retail streetscape integrated with Victoria Ward Park, the focal point of our neighborhood's public open space."

"I never thought homeownership in Hawaiʻi—let alone in Honolulu—would be possible for me before I found ʻAʻaliʻi," said Scott Ashlock, ʻAʻaliʻi resident. "I'm so excited to connect with my neighbors and enjoy all of the urban amenities that Ward Village provides, including new restaurants and shops, all within walking distance."

As a LEED-ND Platinum-certified master planned community, Ward Village demonstrates its commitment to responsible, mixed-use development by investing in public benefits and amenities for Honolulu's urban community. For more information, visit www.wardvillage.com.

About Ward Village® 
Ward Village is a 60-acre master-planned community by The Howard Hughes Corporation in the heart of Honolulu, located between downtown and Waikīkī. Honoring the distinct history of its land, Ward Village is at the forefront of sustainable community development—integrating striking architecture, culture and arts, and public open space. At full build-out, the community will include approximately one million square feet of unique retail and thousands of homes, in what Architectural Digest named "Best-Planned Community in the United States."

As a result of strong demand for new housing in urban Honolulu, Ward Village is quickly approaching sellout of its first four mixed-use residential towers—Waiea®, Anaha®, Aeʻo®, and Ke Kilohana®—transforming the popular shopping and dining district into a thriving urban neighborhood that offers ocean views and open space, including its newest outdoor gathering place, Victoria Ward Park. New residential buildings in development or under construction include ʻAʻaliʻi, Kōʻula, and Victoria Place. Since launching public sales in January 2020, Victoria Place has become the fastest-selling market tower in the history of Ward Village. Approved by the Hawaiʻi Community Development Authority (HCDA) in 2021, The Park Ward Village and Ulana Ward Village will be the newest mixed-use developments to join the neighborhood.

Ward Village is the first-ever LEED–ND Platinum-certified master-planned community in the country, and the only in Hawaiʻi. At the forefront of sustainable development, it features public amenities at a scale not offered by any other urban community in the state. For more information, visit www.wardvillage.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; and Ward Village® in Honolulu, Hawaiʻi. 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.

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

FAQ

What is ʻAʻaliʻi and when was it opened?

ʻAʻaliʻi is the fifth residential tower in Ward Village, opened on October 6, 2021.

How many homes does ʻAʻaliʻi include?

ʻAʻaliʻi includes 751 homes, with 150 dedicated to workforce housing.

What are the features of the ʻAʻaliʻi residential tower?

ʻAʻaliʻi features studio, one, and two-bedroom residences with private lanais and resort-style amenities.

What sales momentum has Ward Village seen recently?

Ward Village reported 91 units contracted in the first half of 2021 despite travel restrictions.

How does ʻAʻaliʻi contribute to Honolulu's housing market?

ʻAʻaliʻi addresses strong market demand for new homes in Honolulu's urban core.