The Howard Hughes Corporation® To Open the Outlet Collection at Riverwalk in New Orleans Memorial Day Weekend

The Howard Hughes Corporation® (NYSE: HHC) announced today that the highly-anticipated opening of The Outlet Collection at Riverwalk will occur in time for Memorial Day Weekend. The celebration showcasing the city’s new premier destination for shopping, dining and entertainment in the heart of New Orleans will kick-off with a grand opening ceremony on Thursday, May 22, 2014 at 9:30am in Spanish Plaza followed by a weekend of engaging festivities. Guests will be able to indulge at the nation’s first outlet center located in a downtown setting, welcoming retailers to the iconic location along the Mississippi River at the base of Canal and Poydras Streets.

In advance of the opening, fashionistas, foodies and insatiable shoppers are encouraged to sign up for the center’s exclusive Riverwalk Rewards Club to stay up to date with The Outlet Collection at Riverwalk’s latest news and special offers. Individuals joining the Rewards Club prior to May 31, 2014 will be automatically entered in The Outlet Collection at Riverwalk's $10,000 ‘Savor the Savings’ Grand Opening Sweepstakes.

Virtually all of the space at The Outlet Collection at Riverwalk is leased with well-known national outlet retailers, many of which will be opening their first location in the state, as well as local favorites. Anchor tenants include Coach Factory Store, Coach Men’s Factory Store, Forever 21 and Last Call Studio by Neiman Marcus. Café du Monde, Chico’s Outlet, Clarks/Bostonian Outlet, Gap Outlet, Guess Factory Store, Hartstrings Childrenswear, It’Sugar, Kay Jewelers, Kenneth Cole Company Store, LOFT Outlet, Lucky Brand, Puma, Raising Cane’s, Red Mango, Sunglass Hut Outlet, The Fudgery, Toby Keith’s I Love This Bar & Grill, Tommy Bahama, U.S. Polo Assn. and dozens of other retailers will appeal to locals and visitors to New Orleans. The full list of tenants can be viewed at www.RiverwalkNewOrleans.com.

“Our redevelopment and repositioning of this symbolic riverfront property will deliver a distinct mix of retail and entertainment offerings unmatched in the region,” said Grant Herlitz, President of The Howard Hughes Corporation. “Beyond the impact of these compelling options for locals and visitors, we are pleased to be a part of the continued revitalization of New Orleans.”

New Orleans is a market that has long been under-served in the retail sector, with approximately 30% less square feet of retail per capita than the national average. City leadership has made it a priority to bring more retail to New Orleans and reestablish the city as a shopping destination.

“We are proud of the retail boom we’re experiencing all across the city of New Orleans,” said Mayor Mitch Landrieu. “Projects like The Outlet Collection at Riverwalk will increase our city’s appeal as a premier shopping destination and will help to create new jobs and better opportunities for our residents and visitors.”

“The opening of The Outlet Collection at Riverwalk is an incredible opportunity to put Algiers and the entire City of New Orleans in a positive light on a national stage,” said District C Councilmember Kristin Gisleson Palmer. “Highlighting the redevelopment and economic progress of downtown New Orleans shows the world that the Crescent City is, and always will be, a great place to live, work, visit and do business.”

“The Outlet Collection at Riverwalk’s grand opening is a testament to the vitality of New Orleans’ economy,” said District B Councilmember LaToya Cantrell. “The center itself will create new jobs, and the money spent by shoppers will further bolster our city’s revival through local tax dollars. I plan to shop there myself!”

The transformative redevelopment is expanding the center’s footprint by approximately 50,000 square feet to nearly 250,000 square feet to be more suitable for national retailers and create a more inviting atmosphere for guests. During construction, The Howard Hughes Corporation estimates that more than 700 construction jobs will have been created. A job fair for retail positions will be conducted in April.

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 16 states from New York to Hawaii. The Howard Hughes Corporation is traded on the New York Stock Exchange as HHC and is headquartered in Dallas, TX. 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,” “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.