WARD VILLAGE® SHARES PLANS FOR EXPANDED PARKS, PEDESTRIAN PROMENADE AND NEW HOMES

HONOLULU – Ward Village today announced proposed plans for the next phase of its master-planned community, which include new housing for local residents, significantly increased public park space, and enhanced walkability, bikeability and connectivity throughout the community.

“As Ward Village continues to evolve, we are committed to making thoughtful improvements to the neighborhood and delivering positive growth to Honolulu,” said Doug Johnstone, President, Hawai‘i at The Howard Hughes Corporation. “Our proposed plans include valuable community benefits and provide an important economic stimulus for our City and State as we work together to help Hawaiʻi recover.” ​

The next phase of improvements will transform two city blocks into Ulana Ward Village and The Park Ward Village—creating a new public park, expanding the existing Victoria Ward Park, and building homes alongside mixed-use spaces to continue the evolution of the Kakaʻako District into an ideally located live, work, play community.

Ulana Ward Village

Ulana Ward Village, located on the tree-lined Auahi Street pedestrian promenade, will transform pavement into a new public park named Ka Laʻi o Kukuluāeʻo, and provide approximately 697 homes at below-market prices for kamaʻāina, as well as extensive ground floor amenities. Local residents and families with incomes between 100% and 140% of the area median income (AMI) will benefit from a variety of available floor plans, including studio, one-, two- and three-bedroom residences designed with an island aesthetic inspired by a Hawaiian sense of place. These homes feature outstanding ocean, city, and mountain views, direct access to two large, open green spaces and a planned retail corridor on Ward Avenue, fostering a strong link to nature and the community, while providing maximum convenience of urban, island living. Ka Laʻi o Kukuluāeʻo, meaning the calm of Kukuluāeʻo, reflects the traditional place name for the area where the new park and Ulana Ward Village will stand. Along with the new park and homes, the addition of light industrial and street-front commercial spaces will activate the neighborhood and serve as a connection point in bringing together Ward Village and the larger Kaka‘ako community.

The Park Ward Village and Victoria Ward Park

The Park Ward Village will be the newest tower in the Ward Village park district, situated next to the expanded Victoria Ward Park, and poised to be the new town square, a unique and exciting retail destination accessible from all four sides of the building. Designed to pay homage to the mid-century modern architecture of Hawai‘i’s past, the residential tower will consist of approximately 546 studio, one-, two-, and three-bedroom homes with open floor plans and coveted island and ocean views. The Park Ward Village will be surrounded by green space, with a direct connection to nature and the community. Residents will enjoy effortless island living, with unique active and passive amenity spaces in the laid-back and walkable neighborhood.

“The Park Ward Village and Ulana Ward Village represent our continued efforts to implement smart growth, peel back the asphalt, and bring natural spaces to our city,” said Race Randle, Senior Vice President of Planning & Development at The Howard Hughes Corporation. “With the addition of community amenities including new public park spaces, mixed-use projects, a pedestrian promenade, and enhanced streetscapes, the Ward Village neighborhood will continue making Kaka‘ako the most desirable urban district in Hawai‘i.”

In addition to transforming pavement and aging industrial space into more than 90,000 square feet of open green space, Ulana Ward Village and The Park Ward Village exemplify Ward Village’s continued commitment to building environmentally sustainable design. The Ward Village master-planned community is the largest LEED-ND Platinum project certified in the United States and the only project of its kind in Hawaiʻi—creating a livable, walkable and sustainable mixed-use neighborhood in the heart of Honolulu.

Ulana Ward Village and The Park Ward Village will provide significant economic benefits for the area, city and state at a time when the need for private investment in its long-term future is urgent. The project is anticipated to create approximately 687 construction and development-related jobs per year and 284 jobs annually from commercial activity, operations and maintenance. Construction and ongoing operations will create ​ $65 million in new State of Hawai‘i tax revenue, $9 million in City and County of Honolulu fees and permits and $3.7 million annual property tax.

For more information, please visit: www.ulanawardvillage.com and ​ www.theparkwardvillage.com.

Additional Quotes

“Continuing along the trajectory of its master plan for the 2010s and 2020s, Ward Village and the development of Ulana Ward Village and The Park Ward Village will support economic recovery from the most destructive economic recession in decades,” said Paul Brewbaker, principal of TZ Economics. “Peaking in 2022 to 2023, those economic contributions will have an even more potent impact than in the relative stable decade preceding them.”

“Living at Ward Village represents the best of urban island living. The ocean, work, shopping and dining and the rest of Honolulu are steps outside my door,” said Serena Taylor, Ward Village resident and owner and founder at Renew Artists Hawaii. “There is a growing sense of community here – I run into neighbors at the grocery store and our kids play at the park together – so I’m excited to see Ward Village continue to evolve and welcome more people to the neighborhood.”

“Ulana Ward Village advances the delivery of critically needed workforce housing at scale, providing the opportunity for nearly 700 local individuals and families to achieve the goal of homeownership,” said Reina Miyamoto, executive director, Hawaii HomeOwnership Center. “The Ward Village team continues to thoughtfully transform Kaka‘ako and make the community a better place to live, work and play.”

“Ward Village continues to work around-the-clock to find new and creative ways to support my small business throughout this pandemic,” said Gary Chen, owner, Scratch Kitchen. “With this new phase in the master plan, I’m excited to see our ʻohana continue to grow, building upon our thriving hub of local businesses that the community can enjoy, right in the heart of Honolulu.”

Media Kit

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 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®, 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. ​ Since launching public sales in January 2020, Victoria Place has become the fastest-selling market tower in the history of Ward Village.

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.