Howard Hughes Announces the Opening of Victoria Ward Park Makai and Updated Land Use and Density Guidelines in Ward Village®
Howard Hughes announced the opening of Victoria Ward Park Makai in Ward Village®, a 60-acre master planned community in Honolulu. This development coincides with new HCDA Mauka Area Rules effective January 2025, enabling an estimated 2.5 - 3.5 million gross square feet of future redevelopment potential.
The park is the community's first SITES-certified park and represents the initial phase of a two-part development plan for public green space. The updated guidelines focus on transit-oriented development incentive zones, promoting a mix of homes, public spaces, restaurants, and retail experiences.
Ward Village, a LEED Neighborhood Development Platinum Certified community, continues to achieve milestones in urban design, including recent LEED Gold certification for Kō'ula residences. The development aims to create a sustainable, connected community while delivering housing and public amenities to Honolulu's urban core.
Howard Hughes ha annunciato l'apertura di Victoria Ward Park Makai a Ward Village®, una comunità pianificata di 60 acri a Honolulu. Questo sviluppo coincide con le nuove Regole dell'Area Mauka dell'HCDA, in vigore da gennaio 2025, che consentono un potenziale di 2,5 - 3,5 milioni di piedi quadrati lordi per futuri progetti di riqualificazione.
Il parco è il primo parco certificato SITES della comunità e rappresenta la fase iniziale di un piano di sviluppo in due parti per spazi verdi pubblici. Le linee guida aggiornate si concentrano sulle zone di incentivo per lo sviluppo orientato al trasporto, promuovendo un mix di abitazioni, spazi pubblici, ristoranti ed esperienze commerciali.
Ward Village, una comunità certificata LEED Neighborhood Development Platinum, continua a raggiungere traguardi nel design urbano, inclusa la recente certificazione LEED Gold per le residenze Kō'ula. Lo sviluppo mira a creare una comunità sostenibile e connessa, offrendo allo stesso tempo abitazioni e servizi pubblici al centro urbano di Honolulu.
Howard Hughes anunció la apertura de Victoria Ward Park Makai en Ward Village®, una comunidad planificada de 60 acres en Honolulu. Este desarrollo coincide con las nuevas Reglas del Área Mauka de la HCDA, que entrarán en vigor en enero de 2025, permitiendo un potencial de 2.5 - 3.5 millones de pies cuadrados brutos para futuras reurbanizaciones.
El parque es el primer parque certificado por SITES de la comunidad y representa la fase inicial de un plan de desarrollo en dos partes para espacios verdes públicos. Las directrices actualizadas se centran en las zonas de incentivos para el desarrollo orientado al transporte, promoviendo una mezcla de viviendas, espacios públicos, restaurantes y experiencias comerciales.
Ward Village, una comunidad certificada como Desarrollo de Vecindario Platinum LEED, sigue alcanzando hitos en el diseño urbano, incluida la reciente certificación LEED Gold para las residencias Kō'ula. El desarrollo tiene como objetivo crear una comunidad sostenible y conectada, al tiempo que proporciona viviendas y servicios públicos al núcleo urbano de Honolulu.
하워드 휴즈는 호놀룰루에 있는 60에이커 규모의 계획 커뮤니티인 워드 빌리지(Ward Village®)에 빅토리아 워드 파크 마카이(Victoria Ward Park Makai)의 개장을 발표했습니다. 이 개발은 2025년 1월 발효되는 새로운 HCDA 마우카 지역 규칙과 일치하며, 향후 250만 - 350만 평방피트의 재개발 잠재력을 가능하게 합니다.
이 공원은 지역 사회의 첫 번째 SITES 인증 공원이며, 공공 녹지 공간을 위한 두 부분 개발 계획의 초기 단계입니다. 업데이트된 가이드라인은 교통 지향 개발 인센티브 구역에 초점을 맞추고 있으며, 주택, 공공 공간, 레스토랑 및 소매 경험의 혼합을 촉진합니다.
워드 빌리지는 LEED 이웃 개발 플래티넘 인증을 받은 커뮤니티로, 최근 Kō'ula 주택에 대한 LEED 골드 인증을 포함하여 도시 디자인에서 이정표를 달성하고 있습니다. 이 개발은 호놀룰루의 도시 중심부에 주택과 공공 편의 시설을 제공하면서 지속 가능하고 연결된 커뮤니티를 만드는 것을 목표로 합니다.
Howard Hughes a annoncé l'ouverture du Victoria Ward Park Makai à Ward Village®, une communauté planifiée de 60 acres à Honolulu. Ce développement coïncide avec les nouvelles règles de la zone Mauka de l'HCDA, qui entreront en vigueur en janvier 2025, permettant un potentiel de 2,5 - 3,5 millions de pieds carrés bruts pour de futures réaménagements.
Le parc est le premier parc certifié SITES de la communauté et représente la phase initiale d'un plan de développement en deux parties pour des espaces verts publics. Les directives mises à jour se concentrent sur les zones d'incitation au développement orienté vers les transports, promouvant un mélange de logements, d'espaces publics, de restaurants et d'expériences commerciales.
Ward Village, une communauté certifiée LEED Neighborhood Development Platinum, continue d'atteindre des jalons en matière de design urbain, y compris la récente certification LEED Gold pour les résidences Kō'ula. Le développement vise à créer une communauté durable et connectée tout en offrant des logements et des commodités publiques au cœur urbain d'Honolulu.
Howard Hughes hat die Eröffnung des Victoria Ward Park Makai in Ward Village®, einer 60 Hektar großen, masterplangemäß entwickelten Gemeinde in Honolulu, angekündigt. Diese Entwicklung fällt mit den neuen HCDA Mauka-Gebietsregeln zusammen, die ab Januar 2025 in Kraft treten und ein geschätztes 2,5 - 3,5 Millionen Bruttoquadratfuß an zukünftiger Entwicklungsfähigkeit ermöglichen.
Der Park ist der erste SITES-zertifizierte Park der Gemeinde und stellt die erste Phase eines zweigleisigen Entwicklungsplans für öffentliche Grünflächen dar. Die aktualisierten Richtlinien konzentrieren sich auf anreizorientierte Entwicklungszonen, die eine Mischung aus Wohnraum, öffentlichen Räumen, Restaurants und Einzelhandelserlebnissen fördern.
Ward Village, eine LEED Neighborhood Development Platinum-zertifizierte Gemeinschaft, erreicht weiterhin Meilensteine im urbanen Design, einschließlich der jüngsten LEED Gold-Zertifizierung für die Kō'ula-Wohnungen. Das Ziel der Entwicklung ist es, eine nachhaltige, vernetzte Gemeinschaft zu schaffen und gleichzeitig Wohnraum und öffentliche Annehmlichkeiten im urbanen Kern von Honolulu bereitzustellen.
- New development guidelines enable 2.5-3.5 million sq ft of future redevelopment potential
- LEED-ND Platinum Certification demonstrates environmental leadership
- Recent LEED Gold certification for Kō'ula residences shows continued sustainability achievements
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Insights
The announcement reveals significant value creation potential for Howard Hughes through two key developments: the expansion of development rights and the enhancement of existing community assets. The new HCDA Mauka Area Rules, allowing for 2.5-3.5 million gross square feet of future development, represent a substantial increase in the company's development pipeline and land value.
The strategic importance of this regulatory update extends beyond mere square footage. In Honolulu's land-constrained market, these development rights are particularly valuable, especially given Ward Village's prime location and existing infrastructure. The transit-oriented development incentives could translate into higher density allowances and potentially reduced parking requirements, optimizing land use efficiency and development costs.
The opening of Victoria Ward Park Makai demonstrates Howard Hughes's sophisticated approach to value creation through placemaking. The SITES certification and LEED-ND Platinum status position Ward Village in the premium segment of the market, where environmental credentials increasingly influence property values and absorption rates. This strategy has already shown success with the LEED Gold certification of Kō'ula residences.
The master-planned community approach creates multiple revenue streams: immediate returns from residential sales, long-term income from retail and commercial spaces, and value appreciation of remaining land parcels as the community matures. The phased development strategy allows for optimal capital deployment while maintaining pricing power through controlled inventory release.
The expanded development rights and enhanced community amenities should strengthen Howard Hughes's competitive position in Honolulu's luxury real estate market, potentially leading to premium pricing for future residential products and increased foot traffic for retail components. This comprehensive approach to community development aligns with modern urban planning principles and consumer preferences for walkable, amenity-rich neighborhoods.
New Guidelines to Bolster Community Growth and Guide Future Redevelopment
HONOLULU, Hawaii, Feb. 14, 2025 (GLOBE NEWSWIRE) -- Ward Village®, an award-winning 60-acre master planned community in the heart of Honolulu, has opened the makai phase of Victoria Ward Park, the community’s first SITES-certified park and the initial phase of a two-part development plan for enhanced public green space. The opening of Victoria Ward Park Makai is part of Ward Village’s broader master plan to create a sustainable, connected community, and coincides with amended HCDA Mauka Area Rules effective January 2025 that establish updated guidelines for smart growth in the district mauka of Ala Moana Boulevard, inclusive of undeveloped Ward Village properties.
The new guidelines represent the potential for an estimated 2.5 - 3.5 million gross square feet of future redevelopment, adding to the community of Ward Village and creating synergies with broader Kaka‘ako. The updated rules emphasize transit-oriented development incentive zones, supporting a balanced mix of homes, public spaces, restaurants, and retail experiences to bring greater public benefit to the neighborhood.
“The new guidelines for smart growth provide the opportunity to deliver much-needed housing to Honolulu, provide a new public park and community gathering place in the island's urban core, and enhance the pristine, walkable community of Ward Village while creating significant value for our shareholders,” said David O’Reilly, Chief Executive Officer of Howard Hughes. “The opening of Victoria Ward Park demonstrates how smart redevelopment can deliver on these goals, and is a great milestone in the continued evolution of Ward Village as the premier community on O’ahu—one that exemplifies our commitment to planning and delivering an exceptional quality of life for all who live and work in our communities.”
Victoria Ward Park Makai is designed to enhance wellness, connectivity and placemaking throughout Ward Village. Recognized as a LEED Neighborhood Development Platinum Certified (LEED-ND) community, Ward Village continues to achieve significant milestones in responsible urban design, including its recent LEED Gold certification for Kō‘ula residences.
“Victoria Ward Park Makai represents the cornerstones of Ward Village’s ongoing vision for the neighborhood,” said Doug Johnstone, President of the Hawaiʻi region for Howard Hughes. “This new public amenity supports our cultivation of an integrated community that seamlessly blends vibrant public spaces, local businesses and housing opportunities for everyone who lives, works and visits Ward Village.”
For more information about Ward Village and its neighborhood upgrades, visit www.wardvillage.com.
About Ward Village®
Ward Village is a 60-acre master planned community 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 buildout, the community will include thousands of homes and approximately one million square feet of unique retail 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 quickly sold out its first seven mixed-use residential towers—Waiea®, Anaha®, Ae‘o, Ke Kilohana®, ʻAʻaliʻi®, Kō‘ula®, and Victoria Place®—transforming the popular shopping and dining district into a thriving mixed-use 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 Ulana Ward Village®, The Park Ward Village®, and Kalae. Most recently approved by the Hawai‘i Community Development Authority (HCDA), The Launiu Ward Village will be the latest mixed-use development that will join the neighborhood. Ward Village, a LEED-ND Platinum-certified master planned community part of the Howard Hughes Holdings Inc. portfolio, demonstrates its commitment to responsible, mixed-use development by investing in public benefits and amenities for Honolulu’s urban community. For more information, visit WardVillage.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: 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 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 Howard Hughes Holdings Inc.’s filings 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 Contact:
Howard Hughes Holdings Inc.
Cristina Carlson, 646-822-6910
Senior Vice President, Head of Corporate Communications
cristina.carlson@howardhughes.com
Investor Relations Contact
Howard Hughes Holdings Inc.
Eric Holcomb, 281-475-2144
Senior Vice President, Investor Relations
eric.holcomb@howardhughes.com
A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/57600603-89be-490a-816f-933cf5f5dedc
FAQ
What is the development potential under the new HCDA guidelines for Howard Hughes (HHH) in Ward Village?
What sustainability certifications has Ward Village (HHH) achieved as of 2025?
When did the new HCDA Mauka Area Rules for Howard Hughes (HHH) Ward Village take effect?
What is the significance of Victoria Ward Park Makai for Howard Hughes (HHH)?
