HOWARD HUGHES CORPORATION® ANNOUNCES PLANS FOR $325 MILLION REJUVENATION OF THE LAKEFRONT DISTRICT IN DOWNTOWN COLUMBIA®

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DOWNTOWN COLUMBIA, Md., Feb. 8, 2022 /PRNewswire/ — The Howard Hughes® Company (NYSE: HHC) today announced plans to invest approximately $325 million in downtown Columbia’s Lakefront District®, launch the next phase of the city’s rejuvenation. The new development will include a state-of-the-art medical office building, housing options, retail offerings and enhanced connectivity to the natural environment, all planned to embody the aesthetic of the “city in a garden” imagined by the founder of Columbia, James Rouse. Known as the grandfather of the main planned community, Rouse is responsible for some of the nation’s most thriving communities and retail districts.

The first project of the new investment is the $45.8 million, four-story, 86,000 square foot medical office building in South Lake. It will rise along the south shore of Lake Kittamaqundi, next to Whole Foods Market, in a walkable waterfront setting. HHC worked closely with Studio Red Architects to make wellness a feature of the new building. With a focus on environmental impact and occupant health, the building features a promenade-style public terrace that offers stunning lake views and space for exercise classes and other leisure activities. health and fitness. The building is expected to achieve LEED Platinum status, the highest level of LEED certification, as well as Fitwel certification.

Orthopedic Associates of Central Maryland (OACM), a division of the Centers for Advanced Orthopedics, the region’s largest integrated group of physicians and specialists, will occupy approximately 20% of the new building when it moves its office from Columbia to the South Lakefront District. when completed in early 2024, OACM will join other health-related businesses in the Lakefront District, such as The Pearl, a modern spa and boutique, and leading medical technology company NuVasive. Other health and wellness related organizations in downtown Columbia include MedStar Health Headquarters, Healthcare Management Solutions, Welldoc, Sharecare, Consortium Health Plans, Vaya Pharma, Medisolv, Resolution Health and others, as well as the nearby Johns Hopkins Howard County General Hospital.

“Howard Hughes’ vision of a progressive health and wellness neighborhood integrated into the heart of a thriving city made him an easy choice to move to the new Lakefront District of downtown Columbia and be part of ‘a new medical office building like no other in the area,’ said Steve Maddock, general manager of Orthopedic Associates of Central Maryland. “It is avant-garde to place a medical building in such a beautiful setting, surrounded by water and open, walkable green space that promotes a sense of serenity and well-being.”

The anticipated debut of The Collective, an upcoming 2022 dining and entertainment concept, combining Offshore Restaurant and Encore Music Venue, adds to the diversity and vitality of the south end of the Lakefront District. Opening soon in 2022 a unique nonprofit called The 3rd, an incubator supporting women entrepreneurs of color.

Future development envisioned for the north end includes three new residential buildings offering a total of 675 units, as well as on-street retail, better pedestrian and cycle connections and improved greenspace to transform the current surface car park to the northern end of the Lakefront District. The high-rise apartments will be built atop an underground parking structure and will be surrounded by outdoor amenity areas, including a boardwalk connecting areas bordering Kittamaqundi Lake as well as a public plaza. Local shops will be located on the ground floor of the residences. As part of the project, Wincopin Circle will be expanded and reconfigured as a pedestrian street connecting activities throughout the Lakefront District. Phase 1 of the Lakefront North development is expected to represent an investment of over $280 million over the next few years.

The density and design of the Lakefront District is intended to encourage organic social interactions and inclusive opportunities for functional exercise as people go about their daily lives, whether at home, work, shopping and restaurants, or in green spaces and outdoor parks. When complete, the Lakefront District will include up to two million square feet of new development.

This area is being redeveloped by HHC in accordance with the Downtown Columbia Plan which specifically calls for “bringing community life and activity back to the waterfront” and creating a walkable community.

“The Lakefront District will be a compelling example of what a healthy neighborhood can be, with its beautiful natural setting, promotion of healthy lifestyles through daily engagement, and access to many core-worthy services and amenities. urban revitalized,” said Greg Fitchitt, President. of the Columbia area for The Howard Hughes Corporation. “Colombians have an emotional connection to the Lakefront, the historic downtown of all of Colombia, and this next phase of investment is the next step in restoring and enhancing the iconic character and historic position of the Lakefront in Howard County.”

This investment in downtown Columbia’s Lakefront District follows HHC’s recently announced plans to invest $10 million in the renovation of the Central District’s Corporate Row office portfolio, with exterior and interior upgrades designed to create a modern and consistent work experience for major employers in the region. Comprising nearly one million square feet of office space in seven buildings on Little Patuxent Parkway, Corporate Row will include Evergreen Advisors, which recently announced the move of its headquarters to 30 Corporate Center. Evergreen’s move to downtown Columbia signals the area’s emergence as a creative hub for technology and innovation companies, including many of Evergreen’s customers, attracted by the vitality of the region and its rapidly growing momentum as a “third city” in the booming city of Baltimore. -Washington, DC corridor.

About Downtown Columbia®A development of The Howard Hughes Corporation®, Downtown Columbia is centrally located in Columbia, MD, one of the first planned communities in the United States, founded by legendary developer James W. Rouse in 1967. Conveniently located between Washington, D.C. and Baltimore, Colombia comprises 14,000 acres, including ten completed residential villages and an extensive pipeline of commercial development opportunities within its downtown core. At full construction, the redeveloped 391 acres of downtown Columbia will include three new reconfigured neighborhoods – Merriweather District®, Lakefront District and Central District – comprising more than 14 million square feet of residential, office, hotel, of retail, cultural and public businesses, including public parks, trails and more.

For more information on the redevelopment of downtown Columbia by the Howard Hughes Corporation and the creative hub being developed in the Merriweather District, please visit www.merriweatherdistrict.com.

About Howard Hughes Corporation® The Howard Hughes Corporation owns, manages and develops commercial, residential and mixed-use real estate across the United States. York; Downtown Columbia®, Maryland; The Woodlands®, The Woodlands Hills® and Bridgeland® in the Greater Houston, Texas area; Summerlin®, Las Vegas; Ward Village® in Honolulu; and Douglas Ranch in Phoenix. The Howard Hughes Corporation 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 creating innovative places, the company is recognized for its ongoing commitment to design excellence and the cultural life of its communities. The Howard Hughes Corporation is listed on the New York Stock Exchange as HHC. For more information, visit www.howardhughes.com.

Safe Harbor StatementStatements made in this press release that are not historical facts, including statements accompanied by words such as “will”, “believe”, “expect”, “enable”, “achieve”, “plan “, “intend”, “assume”, “”convert” 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 the 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 by such statements. Factors that could cause material differences between actual results are disclosed as risk factors in The Howard Hughes Corporation’s filings with the Securities and Exchange Commission, including its quarterly reports estriel and annual. Howard Hughes Corporation cautions you not to place undue reliance on the forward-looking statements contained in this release. The Howard Hughes Corporation undertakes no obligation to publicly update or revise any forward-looking statements to reflect future events, information or circumstances that occur after the date of this release.

contacts

The Howard Hughes CompanyCristina Carlson, 646-822-6910Senior Vice President, Head of Corporate Communications [email protected]

For HHC Investor Relations John Saxon, 281-929-7808Investor Relations [email protected]

Carlos Olea, 703-309-6720 Chief Financial [email protected]

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SOURCE The Howard Hughes Company

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