Construction Begins on Ae‘o and the Flagship Whole Foods Market® at Ward Village®

The Howard Hughes Corporation® Reaches Another Critical Milestone for the Ward Village Community

HONOLULU--()--Ward Village®, an urban master planned community under development by The Howard Hughes Corporation® (NYSE: HHC), marked another major milestone today by breaking ground on Ae‘o, a 466 unit mixed-use residential tower that will be anchored by the highly anticipated flagship Whole Foods Market®. Designed by world renowned architectural firm Bohlin Cywinski Jackson in partnership with Architects Hawai‘i, Ae‘o’s façade will take on a dramatic sculptural form that echoes patterns of the wind. Along with Waiea and Anaha, Ae‘o will make up the first completed district of Ward Village that will be a dynamic addition to the Honolulu skyline.

“Today’s groundbreaking marks an important step in Ward Village’s transformation into the new center of Honolulu with Whole Foods Market serving as a key anchor for the broader Kaka‘ako community,” said David R. Weinreb, Chief Executive Officer for The Howard Hughes Corporation. “Beginning construction on Ae‘o advances our vision for Ward Village residents to enjoy a distinct lifestyle due to the carefully curated mix of top design, retail experiences, public spaces and overall sense of place.”

The flagship Whole Foods Market will further enhance the transformation of Ward Village into an environmentally sustainable, walkable community in the heart of Honolulu. The flagship location will support local farms and producers and will offer the best selection of quality local and superior organic products available. As Hawai‘i’s only LEED-ND Platinum-Certified development and the largest neighborhood in the country to receive such a prestigious certification, the core values of Ward Village and Whole Foods Market are well-aligned.

“At Whole Foods Market, part of our core values is to serve and support our local communities and practice and advance environmental stewardship. With this in mind, Ward Village’s diverse and sustainable lifestyle is a perfect match for our newest flagship store,” said Patrick Bradley, President of Whole Foods Market Southern Pacific Region. “We truly appreciate the sustainable vision of this new community and can’t wait to get to know our new friends and neighbors as we develop this location.”

Ae‘o’s convenient location will provide residents with easy access to Ala Moana Beach Park, the revitalized Kewalo Harbor, local boutiques, diverse eateries and the 16-screen movie theatre at Ward Entertainment Center. Given the direct access to Ward Village’s four-acre village green, Ae‘o presents an ideal residential environment for healthy and active living in urban Honolulu. With available prices starting in the $700,000s, Ae‘o will offer one-, two- and three-bedroom residences with stunning ocean and mountain views and ample parking to accommodate residents, shoppers and those visiting Ward Village.

For more information on Ae‘o and Ward Village, visit www.aeowardvillage.com.

About Ward Village®

A community under development by The Howard Hughes Corporation, Ward Village is a new 60-acre coastal master planned community in the heart of Honolulu between downtown and Waikīkī in the Kaka‘ako district. Ward Village includes three mixed-use residential towers – Waiea, Anaha and Ae‘o – that are now under construction and will transform the popular shopping and dining district into a vibrant neighborhood that offers 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, slated to open in late 2016, will include 174 residences and be home to internationally acclaimed restaurant Nobu. Anaha, opening in mid-2017, will include 317 residences and the first Merrimanʻs restaurant on Oahu. Ae‘o will complete construction in 2018; it will include 466 residences and Oahu’s flagship Whole Foods Market.

This growing community includes two additional developments: Gateway Towers and Ke Kilohana at 988 Halekauwila Street. The extraordinary first building of Gateway Towers on Ala Moana Boulevard will bring the architecture of world-renowned architect Richard Meier to the Honolulu skyline. Ke Kilohana will launch its sales in 2016 and bring housing targeted exclusively for local residents and a 23,000 square foot Long’s Drugs to the neighborhood.

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, over 4,000 residences and over 1 million square feet of retail space.

Ward Village is Hawai‘i’s only LEED-ND Platinum-Certified project and the largest neighborhood development in the country to receive such a prestigious certification. The Information Center and Residential Sales Gallery is located at the iconic IBM Building. For more information, visit www.wardvillage.com.

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.

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.

Contacts

Bennet Group Strategic Communications
Allison Andrade Gammel, 808-753-5714
allison@bennetgroup.com
or
The Howard Hughes Corporation
Caryn Kboudi, 214-741-7744
caryn.kboudi@howardhughes.com

Release Summary

CONSTRUCTION BEGINS ON AEʻO AND THE FLAGSHIP WHOLE FOODS MARKET® AT WARD VILLAGE® - The Howard Hughes Corporation® Reaches Another Critical Milestone for the Ward Village Community

Contacts

Bennet Group Strategic Communications
Allison Andrade Gammel, 808-753-5714
allison@bennetgroup.com
or
The Howard Hughes Corporation
Caryn Kboudi, 214-741-7744
caryn.kboudi@howardhughes.com