VICTORIA PLACE SETS RECORD AS FASTEST-SELLING MARKET TOWER AT WARD VILLAGE®
Kaka‘ako master-planned development continues strong momentum in local market
HONOLULU, HI (February 27, 2020) – The Howard Hughes Corporation® (NYSE: HHC) announced today that Victoria Place has become the fastest-selling market tower in the history of Ward Village.® Located in the heart of the award-winning 60-acre master planned community, the 350-unit luxury tower is positioned next to Victoria Ward Park along the front row of Ala Moana Boulevard, and after starting public sales in January, is already 53 percent sold.
“The enthusiastic response to Victoria Place is a reflection of the dynamic community taking shape at Ward Village,” said Doug Johnstone, President, Hawai‘i at The Howard Hughes Corporation. “We are excited about this latest step toward the maturation of our vibrant neighborhood in the center of Honolulu.”
“Victoria Place represents the strongest sales velocity to date for a market tower at Ward Village,” said Bonnie Wedemeyer, Senior Vice President, Sales & Residential Marketing at The Howard Hughes Corporation. “With this project in particular, we’ve seen a strong demand from local buyers.”
Named in tribute to Victoria Ward, the visionary steward who first transitioned the Kaka‘ako district into a community gathering place over a century ago, the tower will feature sweeping ocean, mountain, and Diamond Head views. Victoria Place will be appointed with luxurious amenities including three pools, spa, multiple tropical gardens, wine room, and the exclusive Lauhala Pool House reservable for private events by residents.
Ward Village is dedicated to expert placemaking and to creating lifestyle environments centered around wellness, convenience and connectivity, with exceptional architecture thoughtfully integrated into open public space. It is Hawai‘i’s only LEED-Neighborhood Development Platinum-Certified project and the first neighborhood development in the country to receive such a prestigious certification. As part of the project’s development, the makai portion of Victoria Ward Park will increase in size to serve as a passive, nature-focused oasis resonant of the original Ward estate. World-renowned landscape architect Don Vita has signed on to develop the grounds for both Victoria Place and Victoria Ward Park.
Victoria Place is Ward Village’s seventh residential tower and, as a result of robust sales, is anticipated to break ground later this year. Strong sales continue at ‘A‘ali‘i and Kō‘ula, which are 83.5% and 74.3% pre-sold. With approximately 90% of homes sold across six towers, either delivered or under construction, Ward Village continues to hold a strong momentum in the local market.
The Information Center and Residential Sales Gallery is located at the iconic IBM Building at 1240 Ala Moana Blvd. For more information, visit www.wardvillage.com.
About Ward Village®
Developed by The Howard Hughes Corporation®, Ward Village is a 60-acre master-planned community in the heart of Honolulu, located between downtown and Waikīkī, along O‘ahu’s picturesque south shore. Honoring the distinct history of its land, Ward Village is at the forefront of sustainable community development - integrating striking architecture, local culture, and public open space. At full build-out, the community will include unique retail and mixed-use residential, 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®, Ae‘o®, and Ke Kilohana® — transforming the popular shopping and dining district into a vibrant 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 ‘A‘ali‘i, Kō‘ula, and Victoria Place.
Ward Village is the first-ever LEED‐ND Platinum-certified master-planned community in the country, and the only in Hawai‘i. 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 cities and communities, as well as operating properties and development opportunities including: the Seaport District in New York; Columbia, Maryland; The Woodlands®, The Woodlands Hills®, and Bridgeland® in the Greater Houston, Texas area; Summerlin®, Las Vegas; and Ward Village® in Honolulu, Hawai’i. 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 place making, 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.
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.
Media Kit
Megan Tsuchida