The Howard Hughes Corporation® Celebrates the Topping out of Waiea®
The Howard Hughes Corporation® (NYSE: HHC) announced today the topping out of Waiea®, the first residential condominium tower that will be completed at Ward Village®. The 60-acre master planned community in the heart of Honolulu will welcome its first homeowners to Waiea later this year. Construction commenced on Waiea in June 2014, marking the beginning of Ward Village's transformation into a vibrant community with a carefully curated mix of design, retail and cultural experiences. With its sweeping glass façade showcasing spectacular views, the 36-floor tower represents a new level of architectural sophistication in Hawai‘i and provides a glimpse into the future of Ward Village.
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Waiea Topping Out (Photo: Business Wire)
Three residential buildings are currently under construction, and five are available for sale at Ward Village offering a broad range of options and lifestyles in the walkable urban master planned community. Contracted sales at the community have reached approximately 90% for the 493 homes in its first two luxury condominium towers, Waiea and Anaha®. Construction began on Ward Village's third tower, Ae‘o, in February 2016. To date, Ward Village has contracted to sell over 1,000 homes and at full build out will deliver more than 4,000 residences and over one million square feet of retail.
"The topping out of Waiea is a memorable moment for Ward Village as it moves ahead on its way to becoming one of the great urban master planned communities in the world," said David R. Weinreb, Chief Executive Officer of The Howard Hughes Corporation. "We are pleased to see Ward Village come to life and look forward to welcoming our first residents later this year."
In the last year, leading retailers and restaurateurs have taken notice with world-famous Chef Nobu Matsuhisa announcing the relocation of his only Oahu restaurant from Waikiki to the base of Waiea and local favorite Chef Peter Merriman selecting the community as the home for the first Merriman's in Oahu at the base of Anaha. Ae‘o will be anchored by the highly anticipated flagship Whole Foods Market®.
Ward Village has partnered with some of the world's most admired architects from Peter Bohlin and James Cheng to Richard Meier, resulting in an unparalleled mix of unique residential product that places Ward Village in a class of its own. Waiea, Anaha and Ae‘o will represent the first completed district of Ward Village, featuring a visually inspiring collection of buildings that will be a transformational addition to the Honolulu skyline.
"The gently curving glass facade of Waiea by the architect James K.M. Cheng is one of the most beautiful pieces of architecture Honolulu has seen in a long time," said Paul Goldberger, a leading architectural critic and author. "It is dignified and lyrical at the same time, and it brings real elegance to the Honolulu cityscape."
- Waiea – Designed by award-winning Vancouver-based architect James K.M. Cheng in collaboration with Rob Iopa and WCIT Architecture, Waiea features 175 residences. Its dramatic interiors were created by acclaimed designer Tony Ingrao, who brings over 30 years of international expertise.
- Anaha – The 318-residence tower features 238 studios and one-, two- and three-bedroom homes, and 73 low-rise flats and townhomes. Anaha is a collaboration by award-winning architect and design firm Solomon Cordwell Buenz, Honolulu-based Benjamin Woo Architects and global design leader Woods Bagot Interiors.
- Ae‘o – A mixed-use residence tower designed by world renowned designers Bohlin Cywinski Jackson in partnership with Architect's Hawaiʻi, Ae‘o will include 466 residences with a host of luxury amenities.
In addition, Ward Village has also launched sales for the first high-rise within Gateway Towers, two flagship luxury residential buildings offering 236 residences masterfully designed by Richard Meier & Partners Architects and recently commenced sales for Ke Kilohana in April. Following five days of sales, Ke Kilohana contracted to sell approximately 90% of its homes, and construction is expected to begin later this year.
Ward Village will ultimately deliver thousands of new residences in a market where supply continues to fall short of demand for new housing and will also be a premier outdoor shopping destination and a gathering place for Hawai‘i residents and visitors. As the largest LEED-ND Platinum certified development in the country and the only one in Hawaiʻi, Ward Village is at the forefront of sustainable community development and will contain public amenities at a scale that no other development in Hawaiʻi offers. These public amenities include a planned four-acre park in the heart of the community, new tree-lined sidewalks and bike lanes and access to the adjacent Kewalo Harbor, which is now operated by The Howard Hughes Corporation under a 35-year ground lease with the State of Hawaiʻi, with plans underway to upgrade the harbor's existing infrastructure for recreational and commercial vessels alike. Kaka‘ako was recently named by Trulia as the top neighborhood with the best amenities in cities of under one million people.
For more information, visit www.wardvillage.com or call 808.369.9600.
About Ward Village®
Developed 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 Kakaʻako district. Ward Village includes three mixed-use residential towers – Waiea®, Anaha® and Aeʻo – that are now under construction and will transform the popular shopping and dining district into a vibrant neighborhood offering 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, which will open in late 2016, will include 175 residences and be home to internationally acclaimed restaurant Nobu Honolulu. Anaha, opening in 2017, will include 318 residences and the first Merrimanʻs restaurant on Oahu. Aeʻo 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 St. The 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 launched its sales in April 2016 and will bring housing targeted exclusively for local residents and a 23,000-square-foot Longs Drugs to the neighborhood.
The vision for Ward Village is consistent with the master plan approved by the Hawaiʻi Community Development Authority in 2009, which allows for up to 9.3 million square feet of mixed-use development, converting into more than 4,000 residences and over one million square feet of retail space.
Ward Village is Hawaiʻi'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 located at 1240 Ala Moana Blvd. 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 news 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.