Summerlin Ranks #3 for 2021 New Home Sales

LAS VEGAS (Jan. 8, 2022) – The master planned community (MPC) of Summerlin®, a development of The Howard Hughes Corporation® (NYSE: HHC), has ranked #3 for the fourth year in a row on RCLCO’s national report of new home sales in 2021. Summerlin is once again the highest-ranking MPC in Nevada on the annual list, showing an increase in yearly home sales of over 13 percent, with 1,619 new homes sold in 2021.

According to Karl Pischke, principal with RCLCO Consulting, which has been ranking MPCs since 1994, Summerlin leads all actively ranked MPCs in total appearances on the national best-selling MPC list, with over 25 years ranking within the top 25. That includes a top-ten appearance each year from 1994 to 2007, followed by a top-ten appearance each year since 2015, and a top-three appearance in each of the past four years. “That’s a very impressive run and a distinction held by no other MPC in the country,” he said.

“Summerlin continues its remarkable story of enduring success with another year of strong momentum in sales and new development that keeps this exceptional community appealing to homebuyers, businesses and investors,” said Kevin T. Orrock, President, Las Vegas Region, The Howard Hughes Corporation. “Particularly as Downtown Summerlin continues to expand its office offerings and capitalize on the national trend to move workplaces closer to home, more residents will enjoy shorter daily commutes, further enhancing overall quality of life.”

The districts of Kestrel and Kestrel Commons located west of the 215 Beltway and south of Lake Mead Blvd. will begin to take shape in 2022 with seven new neighborhoods from top-ranked national homebuilders, including Taylor Morrison, Woodside Homes, Pulte Homes, Richmond American Homes, KB Home and Toll Brothers. Ongoing residential development will continue in the districts of Redpoint and Redpoint Square, also located in Summerlin West.

“Summerlin’s new housing development continues to meet the demands of a wide range of market segments, from millennials to empty-nesters and retirees,’ said Orrock. “While single-family homes in all sizes continue their popularity, consumer preferences are expanding to include a desire for smaller footprints to accommodate a more experiential lifestyle. That’s why we are offering a greater variety of housing options as Summerlin continues to develop.

Summerlin’s signature parks and trail system will continue to unfold in Summerlin West with new open spaces planned for 2022, including Redpoint Arroyo, a nine-acre park that will include walking trails, recreational turf areas, pedestrian bridge, shaded seating, open picnic area, adult exercise stations and more.  Open spaces and parks within Summerlin West, set at the foothills of the Spring Mountains and Red Rock Canyon National Conservation Area, create a deeper connection to nature with ease of access for residents and are designed in line with water conservation directives such as water-smart Irrigation controllers and drought-tolerant plants like Bermuda grass.

At Downtown Summerlin, the community’s urban core and popular retail, dining, sports and entertainment destination, ongoing development of 1700 Pavilion, a ten-story Class-A office building will continue in 2022, along with ongoing construction of Tanager Echo that will add nearly 300 more residential units to Downtown Summerlin’s luxury apartment offerings.

Now entering its 32nd year of development, Summerlin delivers more amenities than any other community in Southern Nevada. This includes more than 250 parks of all sizes; resident-exclusive community centers, pools and events; 150-plus miles of interconnected trails; ten golf courses; 26 public, private and charter schools; a public library and performing arts center; Summerlin Hospital Medical Center; houses of worship representing a dozen different faiths; office parks; neighborhood shopping centers; and, of course, Downtown Summerlin®, offering fashion, dining, entertainment, Red Rock Resort, office towers, City National Arena, home of the Vegas Golden Knights National Hockey League practice facility, and Las Vegas Ballpark®, a world-class Triple-A baseball stadium and home of the Las Vegas Aviators®.

In total, Summerlin currently offers more than 115 floorplans in 20-plus neighborhoods throughout eight distinct villages and districts. Homes, built by many of the nation’s top homebuilders, are available in a variety of styles—from single-family homes to townhomes, priced from the high $300,000s to more than $1 million.

“We continue to see people and businesses moving to Summerlin to take advantage of the outstanding quality of life that our community provides,” said Orrock. “We will continue to accelerate development to meet the growing demand for residential land and offer exceptionally high-quality product at every price point for all segments of the market—from millennials to empty-nesters and retirees. The price per acre of land at Summerlin continues to increase, and momentum in new home sales is a great indicator of what is to come for this incredible community."

For information on all actively selling neighborhoods, visit Summerlin.com.

Caption:  The master planned community (MPC) of Summerlin® has ranked #3 for the fourth year in a row on RCLCO’s national report of new home sales in 2021. Summerlin is once again the highest-ranking MPC in Nevada on the annual list, showing an increase in yearly home sales of over 13 percent, with 1,619 new homes sold in 2021.

About Summerlin®

Developed by The Howard Hughes Corporation®, Summerlin began to take shape in 1990 and has ranked in the country’s top 10 best-selling master-planned communities for nearly two decades. Located along the western rim of the Las Vegas valley, Summerlin encompasses 22,500 acres with approximately 5,500 gross acres still remaining to accommodate future growth, including infrastructure, open space and common areas, all within the master plan. The community is currently home to nearly 100,000 residents who enjoy an unparalleled list of amenities. These include more than 250 neighborhood and village parks, more than 150 completed miles of trails, 26 public and private schools, 14 houses of worship, ten golf courses, Downtown Summerlin®, shopping centers, medical and cultural facilities, business parks and dozens of actively selling floor plans. Homes are available in a variety of styles—from single-family homes to townhomes—priced from the $300,000s to more than $2.5 million. Summerlin is recognized as one of the country’s premier locations to raise a family and to operate a business, named MPC of the Year for 2020 by the National Home Builders Association. For information on custom homesites in The Ridges please call 702.255.2500. Luxury apartment homes offer monthly rents starting from the $1,200s. Visit www.summerlin.com for more information.

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 as operating properties and development opportunities including: the Seaport in New York City; Downtown Columbia®, Maryland; The Woodlands®, The Woodlands Hills®, and Bridgeland® in the Greater Houston, Texas area; Summerlin®, Las Vegas; Ward Village® in Honolulu, Hawaiʻi; and Douglas Ranch in Phoenix. 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.

Contact Melissa Warren, The Warren Group  702-528-6016 [email protected]