WARD VILLAGE® SUSTAINS STRONG PERFORMANCE, ADVANCES COMMUNITY PLANS
First-quarter performance reflects continued emphasis on smart community growth, creation of new homes and expanded green space
HONOLULU – Ward Village®, a 60-acre master planned community by The Howard Hughes Corporation® (NYSE: HHC), recorded strong performance in the company’s first-quarter earnings report, continuing the momentum exhibited during the latter half of 2020 with robust and accelerated new home sales.
Ward Village homes across seven towers—either delivered or under construction—are 91% sold. Having broken ground in March 2021, Victoria Place has continued to demonstrate exceptional demand, with 85% of units contracted as of March 31, 2021. ʻAʻaliʻi ® is 86 % pre-sold and Kōʻula® is 79 % pre-sold as they progress toward 2021 and 2022 completions, respectively.
“Ward Village provides expanded public amenities for our residents and the broader community of Honolulu, with its beautiful parks, widened and landscaped sidewalks, and exciting retail destinations,” said Doug Johnstone, President, Hawai‘i at The Howard Hughes Corporation.
“Our healthy sales underscore the value our customers see in our commitment to creating a vibrant neighborhood to live, work and play,” said Bonnie Wedemeyer, Executive Vice President, Sales & Strategy, The Howard Hughes Corporation.
Ward Village continues to invest in the critical organizations that uplift the community and has pledged gifts aligned with future development milestones for homes in the neighborhood. Ward Village’s charitable giving initiatives – strengthened through a long-term partnership with Hawaiʻi Community Foundation – has included contributions to support Trees for Honolulu’s Future, Mālama Meals, HomeAid Hawaiʻi, Waikīkī Health and the Hawaiʻi Health and Harm Reduction Center. In support of Hawaiʻi’s 51 public libraries, Ward Village is also hosting a pop-up bookstore – Village Books & Music by Friends of the Library of Hawai‘i – featuring an extensive collection of vinyl, books, CDs and DVDs, art and collectibles.
About Ward Village®
Ward Village, a Howard Hughes master planned community, 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 in New York; Downtown 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.