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Glenn Wilkin - Tuesday, March 19, 2024
Howard Hughes Links up with Discovery Land
Shares in Howard Hughes Holdings Inc.® (NYSE: HHH) moved mildly in an upward direction Tuesday, on the announcement of joint venture partnership with Discovery Land Company for the development of a new residential tower, 'Ilima Ward Village, in the premier location within the acclaimed 60-acre master planned community of Ward Village® in the heart of Honolulu. 'Ilima is designed to deliver an unrivaled island living experience with a refined aesthetic, expansive amenities, and sweeping ocean and Diamond Head views. 'Ilima, along with its companion tower Melia Ward Village, is being designed by celebrated firm Robert A.M. Stern Architects.
'Ilima will be the exclusive residential offering on O'ahu from Discovery Land Company, the global real estate developer and operator of private residential club communities with a world-renowned portfolio of more than 35 domestic and international properties. A 33-story tower comprising 148 residences, 'Ilima will include Discovery's signature concierge services and curated amenities providing the distinguished residential experience for which the company is known. 'Ilima will complement Discovery's collection of renowned communities in Hawai'i including Kuki?o Golf & Beach Club, Makena Golf & Beach Club, and North Shore Preserve.
Howard Hughes' partnership with Discovery Land Company began in 2015 when the two companies together developed Summit Club, the highly successful, 600-acre luxury neighborhood within the Howard Hughes community of Summerlin in Las Vegas. In 2023, the tremendous success of Summit Club led to the addition of more custom homesites and 54 additional acres to meet the intense demand for the luxurious community.
HHH shares nicked up eight cents to $71.81.
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