The Howard Hughes Corporation® Welcomes Residents to Waiea® as Vision for Ward Village® Becomes a Transformational Reality

The Howard Hughes Corporation® (NYSE: HHC) has welcomed its first residents to Ward Village®, the company’s 60-acre master planned community in the heart of Honolulu. As the first residential tower to be completed, Waiea® marks Ward Village’s continued transformation into a vibrant “live, work, play” destination and a model 21st century walkable, sustainable community. Upon completion, the community will include more than 4,000 new residences in a market where supply continues to fall short of demand for new housing.

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Waiea Exterior at Ward Village (Photo: Business Wire)

In addition to Waiea, which has approximately 92% of units sold, Ward Village currently includes three additional mixed-use residential towers – Anaha®, Aeʻo and Ke Kilohana – that are under construction and will continue to transform the popular shopping and dining district into a vibrant neighborhood offering exceptional residences with incredible island and ocean views and a carefully curated mix of retail experiences set among dynamic public open spaces and walkable streets. To date, the community has contracted to sell more than 1,100 homes. Since mid-November, more than 80% of the contracted units have closed at Waiea with the balance expected by the end of the first quarter.

“Delivering Waiea and welcoming our first residents to Ward Village is a major milestone as we continue to bring our vision for the community to life,” said David R. Weinreb, Chief Executive Officer for The Howard Hughes Corporation. “This marks an important step for us as we showcase the quality and attention to detail associated with a Howard Hughes community while providing future residents with a glimpse into the Ward Village experience.”

Waiea, which means “water of life,” was designed by renowned Vancouver based architect James K.M. Cheng in partnership with locally-based WCIT Architecture, and makes a stunning contribution to Honolulu’s skyline. Waiea’s interior design by Tony Ingrao complements the building exterior, with refined and exceptional detailing throughout the building’s homes and common spaces. A one-of-a-kind Tony Cragg nine-foot high bronze sculpture distinguishes Waiea’s entrance and highlights the role public art continues to play at Ward Village. The impact of art and culture to the neighborhood will be further enhanced as The Howard Hughes Corporation is the title sponsor of the 2017 Honolulu Biennial, and Ward Village will serve as a key location for a number of art displays throughout the festival that begins in March.

“Waiea’s name and design honor the history of this place and highlight our efforts to honor the past while building a brighter future for Honolulu,” said Todd Apo, Vice President of Community Development for The Howard Hughes Corporation.

The building’s amenity-level overlooks Ala Moana Beach Park and Kewalo Basin, featuring an infinity edge lap pool, state-of-the-art fitness center, playground, splash pad, dog walk, outdoor lounges and entertaining spaces. Indoor amenities include a private theater, library, golf simulator and spa as well as multiple dining and entertaining spaces.

Acclaimed restaurant Nobu Honolulu will be opening at the base of Waiea in time for the holidays following the restaurant’s relocation from its original Waikiki space. Nobu Honolulu will join an array of new restaurants and stores coming to Ward Village, including Merriman’s and Whole Foods Market, while offering its spin on contemporary Japanese cuisine with locally sourced fish and produce.

“Ward Village is at the heart of Honolulu's transformation, and it is the perfect place for Nobu,” said Chef Nobu Matsuhisa. “We look forward to bringing guests the Nobu signatures they have come to love along with some very special items that are only available at Nobu Honolulu using the best local ingredients.”

Ward Village is Hawaiʻiʻs only LEED-Neighborhood Development Platinum-Certified project and the largest neighborhood development in the country to receive such a prestigious certification.

To learn more about other Ward Village residences, please visit www.wardvillage.com/residences.

About Ward Village®

Developed by The Howard Hughes Corporation, Ward Village is a 60-acre master-planned community transforming the heart of Honolulu between downtown and Waikīkī. Along with its first residences, Waiea®, Ward Village includes three additional mixed-use residential towers – Anaha®, Aeʻo and Ke Kilohana – that are now under construction and will continue to transform the popular shopping and dining district into a vibrant neighborhood offering exceptional residences with incredible island and ocean views and a carefully curated mix of retail experiences set among dynamic public open spaces and walkable streets.

Waiea includes 174 residences and will be home to internationally acclaimed restaurant Nobu Honolulu. Anaha, opening mid-2017, will include 317 residences and the first Merrimanʻs restaurant on O‘ahu. Aeʻo will complete construction in 2018; it will include 466 residences and O‘ahu’s flagship Whole Foods Market. Ke Kilohana is slated for completion in 2019, and the 424 home tower welcomes a flagship Longs Drugs to the neighborhood.

A fifth project, currently available for sale, is Gateway Towers on Ala Moana Boulevard that will bring the design of world-renowned architect Richard Meier to the Honolulu skyline.

The vision for Ward Village is consistent with the master plan approved by the Hawai‘i Community Development Authority in 2009, which allows for up to 9.3 million square feet of mixed-use development, converting into more than 4,000 residences and over one million square feet of retail space.

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 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 or find us on Facebook, Twitter, Instagram and LinkedIn.

About James K.M. Cheng Architects

James K.M. Cheng Architects is a collaborative architecture and urban design practice that prides itself on creating meaningful and dynamic built environments. Based in Vancouver, Canada, the firm is recognized for its pioneering contribution to west coast architecture and city building. Founded by James Cheng in 1978, the 30-person practice has been recognized with some of Canada's most prestigious awards, which include the Order of Canada and the Royal Architectural Institute of Canada's Governor General's Medal. Local Vancouver projects include: Pacific Centre Redevelopment, Shangri-La Vancouver, Fairmont Pacific Rim, Shaw Tower, Port Moody City Hall, Burnaby Metrotown Library/Civic Square, and River Green in Richmond. For additional information about James K.M. Cheng Architects, visit www.jamescheng.com.

About Ingrao Inc.

Ingrao Inc. is an internationally acclaimed design and architecture firm established in 1982. Ingrao Inc. is widely known for private residential projects the firm has designed around the world. The company recently completed designing the Baccarat residences in New York and other notable commercial work includes developments at Hudson Yards as well as Ward Village in Honolulu. For additional information about Ingrao Inc., visit www.ingraoinc.com.

Safe Harbor Statement

Statements made in this news 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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