Jack Tyrrell specializes in Kakaako, Honolulu, Hawaii luxury condo projects.

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Ward Village News: Howard Hughes Corp.'s Hawaii projects take top honors at PCBC

Photo: Jack Tyrrell and Company, Inc.

Photo: Jack Tyrrell and Company, Inc.

The Howard Hughes Corporation took home four top awards and three awards of merit at the PCBC 2018, formerly known as Pacific Coast Builder Conference, for its Ward Village development in Kakaako, Honolulu. Top awards are in bold, below. For over 59 years, PCBC has been dedicated to advancing the art, science and business of housing. PCBC is the largest homebuilding tradeshow representing the west coast region. Read more from the Pacific Business News below, here: 

The Howard Hughes Corp.’s Ward Village project in Honolulu recently took home four top awards, including masterplan community of the year, and three awards of merit at the largest homebuilding trade show on the West Coast, while two other Hawaii projects, Keauhou Place and Keauhou Lane, were recognized with awards of merit in two categories.

Ward Village received one of two grand awards for the masterplan community of the year from the Golden Nugget Awards at the annual PCBC conference, formerly known as the Pacific Coast Builders Conference, in San Francisco last week. Esencia in Rancho Mission Viejo, California, also received the grand award for masterplan community of the year.

Ward Village was also honored with a grand award for best indoor/outdoor lifestyle for a community – urban, while the The Howard Hughes Corps.’s (NYSE: HHC) first completed tower, Waiea, received the grand award for best multi-family housing community with 100 units per acre or more, and its fifth planned tower, Aalii, was honored with the grand award for best innovative housing design.

Receiving awards of merit were the developer’s South Shore Market at Ward Village for best commercial project - 20,000 square feet and over, the Ke Kilohana mixed-used tower for best on-the-boards multifamily community and the grand penthouse in Waiea for best indoor/outdoor lifestyle for a home.

“We are honored to be recognized among our industry peers and grateful for our passionate team at Ward Village, which is creating one of the most sought after communities in the country — with almost 96 percent of total units closed or under contract to date,” Simon Treacy, president of The Howard Hughes Corp.’s Hawaii operations, said in a statement. “As we continue to build on the legacy of Victoria Ward who envisioned this land to be a gathering place for everyone, we realize that we have this unique privilege to create a thoughtful neighborhood — one that is not only grounded in its past, but also has an eye to the future and is a place for all.”

Meanwhile, the Keauhou Place condominium project, which was developed by Stanford Carr Development and completed last fall, received an award of merit for best affordable housing community of 100 units or more, while Keauhou Lane, an affordable rental project next door developed by Gerding Edlen, received an award of merit for best multi-family community of the year.

This year’s Golden Nugget awards recognized more Hawaii projects than the past several years. Ward Village won the grand award for best on-the-boards mixed-use project at the 2017 conference, while Forest City Hawaii’s Kapolei Lofts won best affordable housing community with less than 30 units per acre in 2016.

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Ward Village Update: The Locavore Comes to Town

Photo: Ward Village

Photo: Ward Village

The below post was originally posted on Ward Village's blog, and can be found online here:

Only a few decades ago, a local-first approach to dining was practically unheard of in the islands. Scant regard was given to sourcing locally-grown produce, fruits, and meats.

Historically, big ag organizations producing sugarcane and pineapple dominated the landscape in the islands and the vast majority of the food we consumed was shipped to the state from thousands of miles away. In an alarming fact, on average, most of the food consumed in America travels more than 1,500 miles before arriving at a local supermarket, but in Hawai'i 85 to 90 percent of our food is imported and has an average travel distance of 4,500 miles.

Peter Merriman photographed by Anna Kim, courtesy of Ward Village

Peter Merriman photographed by Anna Kim, courtesy of Ward Village

Enter Peter Merriman, a young, ambitious chef who had the foresight to change the game. When Merriman opened his first restaurant in 1988 in Waimea in the Big Island, his vision for producing regional cuisine, forged from locally sourced ingredients, proved groundbreaking. In its early days, Merriman was so determined to work with local farmers, that he told them, "If you grow it or catch it...I'll buy it." The result, paired with Merriman's expert approach in the kitchen, laid the framework for a food revolution that garnered worldwide praise. As it turns out, our food tastes better when it's fresh. And when we support local farms, we do our part to strengthen our economy and wean ourselves off dependence from the mainland.

However, Merriman's approach to creating a more positive and sustainable restaurant didn't end with his relationships to local farmers. With a simple but beautiful mantra to "Do the Right Thing" for the land, the community and guests, Merriman has become one of the most successful restaurateurs in the state. Fast-forward to today and Peter Merriman is proud to be known as the pioneer of the Hawai'i Regional Cuisine Movement and in the not-too-distant future, he's opened a new location right here at Ward Village.

His latest concept (located on the ground floor of the Anaha residential tower) is a reflection of all the values that have made his restaurants so successful. Led by executive chef Jon Matsubara, the new restaurant includes a 6,000 square foot space with an expansive 1,800 square foot lanai, perfect for soaking in the sunset while enjoying your dinner. Under the watchful eye of Chef Matsubara, guests will find a plethora of delicious concoctions on the menu, including their famous lobster pot pie and cast-iron chicken.

Step into their expansive new space and you'll see the end result of Merriman's original vision played out in a beautiful, urban setting. Nearly three decades later, the farm-to-table movement has become a central element in forming Hawaii's modern culinary identity and we're thrilled to welcome Merriman's into the Ward Village ohana. The locavore has set down new roots.

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Merriman’s in Honolulu set for Saturday opening

The long-anticipated Merriman's on the ground floor of Anaha will be ready for business this Saturday, June 23! Merriman's marks Ward Village's latest fine dining offering, joining the popular Nobu Honolulu on the ground floor of Waiea. Merriman's features Hawaii and French bistro-style food. The new location focuses on farm-to-table ingredients and features new dishes not found on the Maui, Kauai, or Big Island locations, including Tako & Country Bread, served escargot-style covered in garlic butter; Kualoa Ranch “Smokin’ Oysters,” infused with smoke under a dome to be released with hazy aplomb at the table; and roasted cauliflower served with walnuts, romaine and aged sherry. This will be the first restaurant owned by Chef Peter Merriman on Oahu (his more casual Monkeypod Kitchen is a joint venture). 

Watch the Honolulu Star Advertiser's sneak peak video above, and read their first impression, below:

Chef Peter Merriman’s Honolulu restaurant opens Saturday in the Anaha complex in Ward Villages.

Preview sessions at Merriman’s began Monday, introducing the menu to Anaha residents, employees of other restaurants in the Merriman’s family, vendors, suppliers and the media.

Merriman said the restaurant will reflect the farm-to-table roots of all his restaurants, but with a recognition of its location in modern Kakaako. “One of our themes is farm to high-rise,” he said.

Specialties developed for the Merriman’s Ward location include Tako & Country Bread, served escargot-style covered in garlic butter; Kualoa Ranch “Smokin’ Oysters,” infused with smoke under a dome to be released with hazy aplomb at the table; and roasted cauliflower served with walnuts, romaine and aged sherry.

Classic Merriman’s dishes from either the original Waimea restaurant on the Big Island or in Kapalua, Maui, include steamed clams in garlic butter and a lobster pot pie, both made with seafood from Keahole.

Merriman, one of the original Hawaii Regional Cuisine chefs, has seven restaurants on four islands. This new restaurant will be his eighth and the first in Honolulu directly owned by him (his more casual Monkeypod Kitchen and Moku Kitchen are partnerships with Handcrafted Restaurants).

The executive chef at Ward is Jon Matsubara, who has opened three previous high-end Honolulu restaurants — Stage at the Honolulu Design Center, Azure at the Royal Hawaiian and Forty Carrots at Bloomingdale’s.

Reservations for opening night and beyond are being taking at merrimanshawaii.com. Hours at the Ward location will be 11 a.m. to 11 p.m. daily; with happy hour from 4 to 6 p.m.

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Howard Hughes breaks ground on Ward Village Central Plaza

Source: Dennis Oda, Honolulu Star-Advertiser

Source: Dennis Oda, Honolulu Star-Advertiser

Last week, the Howard Hughes Corporation broke ground for its "Dynamic open green space", a central plaza on Auahi Street in Kakaako. The public park will support the entire Ward Village development, including Waiea, Anaha, and the upcoming Aeo, Gateway Towers, and Aaalii. The 1.5-acre site is slated to be complete by January 2019. It will surely be a welcome addition to the community, especially as more residents move into the area. Across the street, at Ala Moana Beach Park, the City and County of Honolulu has banned dogs, so we are grateful to hear that Howard Hughes will be providing an alternative space for Kakaako residents to enjoy the outdoors!

Read more from the Honolulu Star-Advertiser, below:

Hawaii real estate developers usually hold ground- blessing and groundbreaking ceremonies for buildings that will replace open spaces. On Tuesday in Kakaako the opposite happened.

Representatives of Howard Hughes Corp. gathered on a parcel of land, housing the razed remains of warehouse buildings, and announced the start of work to turn the roughly 1.5-acre site into a great public lawn, slated to be completed in January.

Representatives of the Ward Village developer used Hawaiian digging sticks, or oo, to disturb a pulverized pile of asphalt, a move symbolic of starting work on what it envisions will be the first half of a 3-acre central public plaza. The plaza is part of the developer’s 65-acre master-planned community, which also includes up to 4,300 homes — mainly in condominium towers — plus 1 million square feet of retail space.

“We’re really going to make this come to life,” said Todd Apo, vice president of community development for the Texas-based company. “It’s really going to be something amazing.”

More elaborate elements of the plaza, such as water features, shade pavilions and walking paths, won’t be put in place for at least the next few years. Initially the 1.5-acre portion of the plaza will be a grassy area with some trees and landscaping plants. Hughes Corp. plans to use it for events — such as outdoor movies and yoga classes — that are currently held in a courtyard in the nearby IBM Building headquarters, also on Ward Village land.

The board of the Hawaii Community Development Authority, which regulates development in Kakaako, had ordered Howard Hughes Corp. to complete the initial 1.5-acre portion of the plaza by January 2019 as a condition of approving what the developer expects will be its fifth tower in the area, ‘A‘ali‘i.

Howard Hughes Corp. had objected to the condition last year, saying it would be impossible to complete its grand plaza as originally designed by the deadline.

“The (deadline) is impossible to accomplish under any realistic scenario and would allow only for the demolition of buildings and the clearing of the area for temporary open space, with no features or amenities that enhance the experience for the community,” the developer said in its objection filed by attorneys with local law firm Watanabe Ing LLP. “Surely, it could not have been the intent of HCDA to obtain a central plaza that is simply a grassed area.”

HCDA’s board voted for the condition in part because the company had indicated the plaza would be part of Ward Village’s first phase.

At the time, all permitted or completed projects at Ward Village represented 44 percent of building density allowed under Hughes Corp.’s master plan. To date, two towers have been completed, two are under construction and three are permitted but not yet under construction. Recently, Howard Hughes Corp. announced its plan for an eighth tower, Ko‘ula, which along with ‘A‘ali‘i would be on the Diamond Head side of the 1.5-acre lawn and future central plaza.

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Industry News: Multimillion-dollar sales push Honolulu condo prices to new high

Photo property of Jack Tyrrell and Company, Inc.

Photo property of Jack Tyrrell and Company, Inc.

The Honolulu Board of Realtors has released its monthly sales reports, finding that median sales price for a condo reached $435,000 in March 2018, a 8.8 percent gain from $400,000 in March 2017. The median price for condos reached a new record of $435,000, which was previously set in January 2018 at $430,000.

Resales of luxury units in the newly completed Anaha at Ward Village and Park Lane Ala Moana contributed to the higher median sales price for a condo last month.

Read the full report from Pacific Business News, below:

The median price of a condominium reached a new high in March, compared to last year, driven by the sales of nearly two dozen multimillion-dollar units, while sales declined slightly, according to statistics released by the Honolulu Board of Realtors.

The median price of a condominium last month was $435,000, an increase of 8.8 percent from $400,000 in March 2017. That was based on sales of 485 units, which was 2 percent fewer than the 495 units that sold in March 2017.

The number of single-family homes sold declined 1.3 percent to 305 homes sold, from 309 homes sold in March 2017. The median price of single-family homes in March was $760,000, an increase of 1.1 percent from $752,000 in March 2017.

“The March condominium figures were impacted by the resales of 20 luxury and multimillion-dollar units. Consumers should remember that half of sales were below the median price,” Darryl Macha, president of the Honolulu Board of Realtors, said in a statement.

“The increase in median prices, even modest ones like we saw in March, reflects the continued limited inventory available. However, it’s encouraging to see the 11 percent increase in active listings for condominiums, giving potential buyers more options in the market.”

OAHU HOME SALES

The number of homes sold in March with the median price and percentage change from the same month last year.

HOMES
March | Sales | Median price
2018 | 305 | $760,000
2017 | 309 | $752,000
Change | -1.3% | 1.1%

CONDOS
March | Sales | Median price
2018 | 485 | $435,000
2017 | 495 | $400,000
Change | -2.0% | 8.8%

Source: Honolulu Board of Realtors

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Anaha Glass-Bottom Pool Featured in National Publication, Travel + Leisure

Anaha's iconic glass-bottom pool has been featured in national Travel + Leisure Magazine. 15 feet of the pool overhangs from the building approximately 80 feet from the ground, creating a "floating in air" effect.

We have a handful of listings for sale and for rent available now, so that you can experience the famous pool for yourself! Contact me for details or visit my website.

Read the full feature by Andrea Romano, below (originally published March 7, 2018), and watch a video above or on Travel + Leisure's website here:

Photo: Travel + Leisure Magazine

Photo: Travel + Leisure Magazine

Are you brave enough to swim in a pool suspended 80 feet in the air?

Anaha, a new 40-story residential building in Honolulu, on Oahu, features artfully designed public spaces, shops, restaurants, and entertainment — but there's one feature that stands out from the rest: a glass-bottom pool 80 feet in the air.

The pool, designed and planned by Surface Design, juts out 15 feet from the side of the building, giving swimmers a beautiful view and a feeling of floating in air. (It’s probably not the best for people with a fear of heights.)

Meaning “reflection of light,” Anaha is designed with curved floor plates and a curtain-wall façade that give the entire building the appearance of a wave of water, glistening in the sun.

The building was designed by Chicago-based Solomon Cordwell Buenz, in partnership with Benjamin Woo Architects, and features an 80-feet by 15-feet “living wall” with 8,000 tropical plants that greets anyone who comes through the front doors.

Next to the pool is the building’s amenity deck, where residents can sit in the sun on relaxing chairs and loungers.

Anaha offers 244 studios and one-, two- and three-bedroom tower residences as well as 73 low-rise flats and townhomes. Residents can enjoy views from the beachfront to Diamond Head, and from Kewalo Harbor to the gorgeous sunset.

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Ward Village condo sales aid developer’s profit, The Honolulu Star-Advertiser

Photo: Property of Jack Tyrrell & Company

Photo: Property of Jack Tyrrell & Company

Howard Hughes Corporation has reported that it has sold 93%, or 1,286 of 1,381 condo units, across its Waiea, Anaha, Aeo, and Ke Kilohana condominium projects in Ward Village. The update was a part of the company's Fourth Quarter and Full Year 2017 results, released on Monday, February 26, 2018. Investors and the public can read the financial report on their website here.

With 93% of condos already sold, inventory is tight. However, we currently have three beautiful units at Waiea and eight in Anaha. Plus, there are still great available units in Aeo and Ke Kilohana. Please contact me to learn more!

Read the full Star Advertiser report, below:

The Texas-based developer of Ward Village signed 55 more sale contracts for condominiums in its Ae‘o tower in the fourth quarter, bringing total sales to 91 percent of the project scheduled for completion by the end of this year.

Howard Hughes Corp. gave the sales update Monday as part of announcing its financial results for the last three months of 2017.

The company also said that in the recent quarter it sold two condos in its recently finished Anaha tower, two units at its Ke Kilohana tower that is on pace for completion next year, and no units at its Waiea tower that opened at the end of 2016.

Total revenue recognized from Ward Village condo sales in the fourth quarter was $122 million, which compared with $123 million in the same quarter the year before.

Hughes Corp. “recognizes” revenue from condo sales for accounting purposes even though buyers have not completed their purchases, as allowed under federal tax regulations that permit developers to count a certain percentage of revenue in reflection of how much construction of a tower is completed.

For all of last year, Hughes Corp. recognized $464 million in revenue from Ward Village condo sales, compared with $486 million the year before.

At Waiea, 165 of 174 condos have been sold, or 95 percent of the “ultra-luxury” tower where the average unit price is $3.6 million.

At Anaha, 309 of 317 condos have been sold, or 98 percent of the luxury building where unit prices average $1.2 million.

Ke Kilohana is 92 percent sold, with 390 of 424 units under contract in the “workforce housing” tower where most units are priced between roughly $300,000 and $600,000.

The 55 additional sales at Ae‘o bring pending sales in the upscale tower to 422 out of 466 units priced at $1 million on average.

Overall, Hughes Corp. has sold 1,286 of 1,381 condo units in the four towers, or 93 percent of the total.

Besides Ward Village, Hughes Corp. is developing several master-planned communities and large commercial real estate projects on the mainland. The company said it earned $147 million in the fourth quarter on $301 million of revenue, up from a $44 million profit on $279 million of revenue in the same quarter the prior year. Profit for all of last year was $167 million on $1.1 billion of revenue, down from $202 million on $1 billion of revenue in 2016.

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Howard Hughes hires BlackRock exec to oversee Hawaii development

Simon2Cropped.jpg (1).jpg

HONOLULU--(BUSINESS WIRE)--The Howard Hughes Corporation® (NYSE: HHC) announced today that Simon Treacy has joined the company as President, Hawai’i. In this position, Mr. Treacy will be leading the development, sales and operations of Ward Village®, the acclaimed 60-acre master planned community recently named “Best Planned Community in the US” by Architectural Digest. Since beginning sales in 2014, Ward Village has sold more than 1,300 homes. At full build-out, the community will consist of more than 4,500 residences and approximately one million square feet of retail space.

Mr. Treacy has 20 years of global real estate experience across Asia, Europe and the US. He has lived in Australia, Singapore, Thailand, Hong Kong, Japan, and China, and spent the past four years in New York as BlackRock Real Estate’s Managing Director, Global Chief Investment Officer and Head of US Equity. Prior to BlackRock, Mr. Treacy was a Founding Shareholder and Global CEO of MGPA, which was acquired by BlackRock in 2013, and had $14 billion of funds under management in Asia and Europe. Mr. Treacy is also a global governing trustee in ULI and a leader in urban planning and land use.

“With his long and successful track record in real estate and urban planning, Simon is a tremendous addition to our senior team and well positioned to steer Ward Village as it continues to come to life as one of the leading urban master plans in the world,” said David R. Weinreb, Chief Executive Officer of The Howard Hughes Corporation. “I am particularly pleased to have found a dynamic executive like Simon, who already calls Honolulu home, and who brings a variety of skill sets and experiences that can complement our existing deep bench of talent at Ward Village.”

“My family and I made the decision to move from the mainland to this beautiful and special place last year for personal reasons; I am excited that the opportunity presented itself to join this dynamic company which is transforming Oahu’s urban core,” said Simon Treacy. “I am looking forward to listening, learning, and finding the right ways to be of service in the community as I share my experiences and lead the continued development of Ward Village.”

Mr. Treacy is taking the helm at Ward Village as the community celebrates several recent milestones, including the successful delivery of Anaha®—the second mixed-use residential building in the community. Ward Village has also reached a near sellout of the first collection of homes from its four towers either delivered or under construction—Waiea®AnahaAe`o®, and Ke Kilohana—whose contracted sales have collectively exceeded 93 percent of available homes. Most recently, the launch of sales at ‘A‘ali‘iexpanded the selection of residences at Ward Village with the introduction of innovative smart-living homes. The strong market demand for new housing in Honolulu and the desire for an urban, walkable lifestyle have made Ward Village a sought-after destination for home buyers. The momentum is expected to continue to build throughout the coming years; openings slated for 2018 include the state’s largest Whole Foods Market, as well as the first O’ahu location of the acclaimed restaurant Merriman’s.

As the largest LEED-ND Platinum certified master plan development in the country and the only one in Hawaiʻi, Ward Village is at the forefront of sustainable community development, featuring public amenities at a scale not offered by any other urban development in the state.

About Ward Village®

Being developed by The Howard Hughes Corporation®, Ward Village is a 60-acre coastal master-planned community in the heart of Honolulu located between downtown and Waikīkī in the Kaka'ako district. Ward Village is at the forefront of sustainable community development, integrating significant architecture, local culture, and public space. New tree-lined sidewalks and bike lanes provide access to an over 100-acre public beach park and the Kewalo Harbor. Since beginning sales in 2014, Ward Village has sold more than 1,300 homes. At full build-out, the community will consist of more than 4,500 residences and approximately one million square feet of retail space.

Ward Village includes four mixed-use residential towers—Waiea®, Anaha®, Ae`o®, and Ke Kilohana—that are transforming the popular shopping and dining district into a vibrant neighborhood that offers ocean views and a thoughtfully curated mix of retail experiences set among walkable open spaces. The most recently approved building, ‘A‘ali‘i, will continue to expand the selection of new homes at Ward Village and sit at the top of the Central Plaza, which will serve as a key public gathering and activation space for the community. Art and culture play an integral role at Ward Village, which was the home of the inaugural Honolulu Biennial in 2017. Public art is highlighted throughout the neighborhood, including large-scale wall murals, sculptures and locally-inspired exhibits.

Ward Village is Hawai‘i’s only LEED-ND Platinum-Certified project and is the largest neighborhood development in the country to receive such a prestigious certification. 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 operating properties and development opportunities including: The Seaport District NYC 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, 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.

Contacts

The Howard Hughes Corporation
Cristina Carlson, 646-822-6910
VP, Corporate Communications and Public Relations
cristina.carlson@howardhughes.com
or

For HHC Investor Relations
David O’Reilly, 214-741-7744
Chief Financial Officer
david.o'reilly@howardhughes.com

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Howard Hughes Corp. says 89% of Honolulu condos are sold

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Read the full article, below:

The Howard Hughes Corp. has sold nearly 90 percent of the 1,381 condominium units the developer is building at its Ward Village community in Honolulu and last month repaid a $195.3 million construction loan on the Waiea and Anaha towers there, the company said Monday in its third quarter earnings report.

The Howard Hughes Corp. (NYSE: HHC) reported third quarter net income of $10.5 million, or 24 cents per diluted share, compared to net income of $8 million, or 19 cents per diluted share for the same quarter last year.

CEO David Weinreb, who inked a new 10-year agreement with the Dallas-based company, noted that the Hawaii properties contributed to gains in the quarter.

“In our strategic developments segment, we had our strongest quarter of sales at Ward Village without the launch of a new building as our vision for the community increasingly becomes a reality,” Weinreb said in a statement. “We are now approximately 89 percent sold on our four buildings currently under construction.”

Of the total 1,381 units in Waiea, Anaha, Aeo and Ke Kilohana, 1,227, or 88.8 percent, were closed or under contract as of Sept. 30, the company said.

Howard Hughes is still selling units at Waiea, which cost $417.3 million and was completed in November 2016. The company said it had closed on 158 of the 174 units there as of last week.

The developer had closed on 207 of a total 317 units at Anaha, which cost $401.3 million and opened last month.

Two other buildings, the Whole Foods Market-anchored Aeo, which is expected to cost $428.5 million and will have 466 units, and Ke Kilohana, which is expected to cost $218.9 million and will have 424 units, are under construction and are expected to be completed in the fourth quarter of 2018 and in 2019, respectively.

The company noted that it has started sales for the first tower of the Gateway Towers project but offered no other details.


Howard Hughes also noted that it began demolition of the Ward Warehouse shopping center during the quarter, which removed 115,191 square feet of “old retail space” from Ward Village, the company said.

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Anaha at Ward Village Welcomes First Residents

Anaha has officially welcomed its first residents! It was an honor to join The Howard Hughes Corporation team, Anaha's new homeowners, and our friend and clients for the blessing ceremony, which was beautifully led by Kumu Hina.

97% of the 317 units in Anaha have already been sold, but please contact us for our listing, which are some of the best and most desirable in the building.

Read the full press release, below:

HONOLULU--(BUSINESS WIRE)--The Howard Hughes Corporation® (NYSE: HHC) announced today that it has begun welcoming residents to Anaha®, the second residential tower to be delivered in Ward Village®, the 60-acre coastal master planned community located in the heart of Honolulu. Named “Best-Planned Community in the United States” by Architectural Digest, Ward Village includes a thoughtfully curated mix of retail and dining experiences set among dynamic public open spaces and walkable streets. The milestone was celebrated with a traditional Hawaiian blessing ceremony.

Upon completion, the community will supply over 4,500 new residences in a market where the availability of new housing continues to fall short of demand. To date, the community has contracted to sell more than 1,200 residences, including 97% of Anaha’s 317 homes.

“The completion of Anaha is another significant milestone for Ward Village as our vision for the community to become a vibrant live-work-play destination continues to come to life,” said David R. Weinreb, Chief Executive Officer of The Howard Hughes Corporation. “With its striking architecture, the building is a transformational addition to the Kaka’ako skyline and, along with Waiea®, a symbol of the level of design and quality we aspire to bring to each residence at Ward Village.”

Designed by Chicago-based Solomon Cordwell Buenz in partnership with Honolulu-based Benjamin Woo Architects, the building is home to a diverse range of stylish residences and well-appointed amenities. Residents of Anaha will be able to enjoy an ocean-view glass bottom pool, state-of-the-art fitness center, a tennis court, a beach volleyball court, a library, an auditorium style movie theater, lounge areas, barbecue cabanas, private dining rooms, a wellness center, a putting green, a dog park, and a keiki play area.

“Anaha is not only a great addition to Ward Village, but furthers the establishment of an engaging, pedestrian-friendly neighborhood that will serve the broader Oahu community,” said Todd Apo, Vice President of Community Development for The Howard Hughes Corporation. “With the dynamic mix of dining, shopping, entertainment, and cultural offerings at Ward Village, such as the first Oahu location of highly-regarded Merriman’s restaurant that will open at the base of Anaha, the neighborhood will continue to attract and serve residents and visitors alike.”

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 new 60-acre coastal master-planned community in the heart of Honolulu between downtown and Waikiki in the Kaka'ako district that upon completion will include more than 4,500 homes and 1 million square feet of retail. Ward Village is at the forefront of sustainable community development, integrating architecture, local culture, and public space. New tree-lined sidewalks and bike lanes provide access to an over 100-acre public beach park and the Kewalo Harbor. Ward Village includes mixed-use residential towers—Waiea®, Anaha®, Ae`o®, Ke Kilohana, and Gateway Towers —that are transforming the popular shopping and dining district into a vibrant neighborhood that offers residences island and ocean views and a thoughtfully curated mix of retail experiences set among walkable open spaces. The most recently approved project, 'A'ali'i will continue to expand the selection of new homes at Ward Village and sit at the top of the Central Plaza which will serve as a key public gathering and activation space for the community. Art and culture play an integral role at Ward Village, home of the inaugural Honolulu Biennial, which launched in 2017. Public art is highlighted throughout the neighborhood, including large-scale wall murals, sculptures and locally-inspired exhibits. Ward Village is Hawai‘i’s only LEED-ND Platinum-Certified project and is the largest neighborhood development in the country to receive such a prestigious certification. 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. Our properties include master planned communities, operating properties, development opportunities and other unique assets spanning 14 states from New York to Hawai‘i. The Howard Hughes Corporation is traded on the New York Stock Exchange as HHC with major offices in New York, Columbia, MD, Dallas, Houston, Las Vegas and Honolulu. For additional information about HHC, 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.

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