NEW ORLEANS--(BUSINESS WIRE)--Following a transformative $80 million redevelopment of the iconic downtown property, The Howard Hughes Corporation® (NYSE: HHC) today officially opened the nation’s first downtown outlet center - The Outlet Collection at Riverwalk - to huge crowds in New Orleans, LA.
The Memorial Day weekend of revelry kicked off in Spanish Plaza, located adjacent to the front entrance of the new shopping, dining, and entertainment destination, with an exciting Grand Opening press conference attended by a number of top officials and executives, including Lt. Governor Jay Dardenne; Deputy Mayor Cedric Grant; Councilmembers LaToya Cantrell and Nadine Ramsey; New Orleans Tourism Marketing Corporation (NOTMC) President & CEO, Mark Romig; and numerous executives from The Howard Hughes Corporation, including the Chief Executive Officer, David Weinreb, and President, Grant Herlitz. Following brief remarks, The Outlet Collection at Riverwalk’s doors opened in grand style with five days of events celebrating the latest fashion trends, flavors of New Orleans and other fun-filled activities, concluding with a salute to the troops and a stunning fireworks display on Memorial Day.
Repositioning of the former Riverwalk Marketplace included a complete redevelopment and a significant expansion of approximately 50,000 square feet to the upper level, bringing the total to 250,000 square feet of much-needed retail space showcasing an all-star line-up of 75 popular national brands and local favorites. With 30 percent less retail per capita than the national average, New Orleans is significantly under-retailed.
“Today is the culmination of thinking big and collaboration,” said David R. Weinreb, Chief Executive Officer of The Howard Hughes Corporation. “The redevelopment represents the imaginative thinking that is one of the cornerstones of The Howard Hughes Corporation. The Outlet Collection at Riverwalk’s transformation is helping secure the city’s growing reputation as a fashion destination for locals and visitors that is as vibrant and exciting as the City of New Orleans.”
“The Outlet Collection at Riverwalk solidifies New Orleans as an unmatched destination for visitors,” said Lt. Governor Jay Dardenne. “Louisiana offers incredible cuisine, history and music and is now on the map for its fashion and shopping options.”
The opening marks an important milestone for New Orleans’ economic development. In April, The Outlet Collection at Riverwalk hosted a major job fair in partnership with JOB1 in association with the Mayor’s Office of Workforce Development. Over 4,000 job seekers attended the event, and in total, The Outlet Collection at Riverwalk has created over 1,600 permanent full-time and part-time positions.
“New Orleans is seeing a retail boom across the city and The Outlet Collection at Riverwalk is more proof of that success,” said Mayor Mitch Landrieu. “Riverwalk symbolizes the attractiveness of our city to investors and national brands; it shows the growth of our economy by creating 1,600 permanent jobs and supports the revitalization of our riverfront by adding a remarkable retail experience for both residents and visitors.”
In addition to being the nation’s first outlet center in a downtown setting, The Outlet Collection at Riverwalk is also the first location in the region for a number of tenants, including Neiman Marcus Last Call Studio, Coach Men’s Factory Store and Tommy Bahama Outlet. Joining Neiman Marcus Last Call Studio as an anchor are Coach/Coach Men’s Factory Store and Forever 21. Some beloved brands are also returning to the center including Café du Monde, Chico’s Outlet, Fat Tuesday, Gap Factory Store, Loft Outlet, Mardi Gras Masquerade and The Fudgery. Other popular retailers bringing additional style options to area fashionistas in the “Big Easy” include GUESS Factory Store, The PUMA Store, Charlotte Russe, Lucky Brand, Hartstrings Kids Apparel Center and Kenneth Cole.
The Outlet Collection at Riverwalk’s national and local retailers offer savings of 25 to 65 percent every day and will also feature special added discounts during the Grand Opening festivities. The first 500 shoppers to spend $100 during the Grand Opening weekend will be treated to a Riverwalk swag bag, filled with gifts from the center’s retailers and restaurants. Trendsetters, culinary connoisseurs and insatiable shoppers are also 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 automatically be entered in The Outlet Collection at Riverwalk's $10,000 ‘Savor the Savings’ Grand Opening Sweepstakes.
The Outlet Collection at Riverwalk now offers discounted, validated parking for thousands of nearby parking spots with a $20 minimum purchase. Additionally, the Food Court features an interactive play area that offers amusement for kids of all ages.
Shoppers are invited to indulge like never before during the five days of special events and can find a full list of festivities, retailers, mall hours and more online at RiverwalkNewOrleans.com. Guests are also encouraged to get the latest news and information on Facebook, Twitter, Instagram and Pinterest.
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.
