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Business Upturn
29-07-2025
- Business
- Business Upturn
RCLCO Mid-Year Report Ranks Summerlin® and Bridgeland® Among Nation's Top-Selling Master Planned Communities
THE WOODLANDS, Texas, July 28, 2025 (GLOBE NEWSWIRE) — Summerlin® and Bridgeland®, two of the award-winning communities in the Howard Hughes Holdings (NYSE: HHH) portfolio, have been ranked among the country's top-selling master planned communities (MPCs), according to the mid-year 2025 report released by national real estate consultant RCLCO. The Summerlin community in Las Vegas ranked #7 on the RCLCO list with 515 new homes sold during the first half of 2025, and Bridgeland, in the Greater Houston area, ranked #14 nationwide with 438 new homes sold by mid-year. 'The impressive mid-year RCLCO rankings for Summerlin and Bridgeland underscore our commitment to building high-quality communities that stand out as premier destinations for residents and businesses across the country,' said David O'Reilly, Chief Executive Officer of Howard Hughes. 'Howard Hughes communities have sustained strong home sales across our national portfolio, and we continue to build on our strong sales momentum as the year continues.' SUMMERLIN Now in its 35th year, Summerlin continues to be one of the most in-demand and best-selling communities in the country. Spanning 22,500 acres, Summerlin is ideally situated within the Las Vegas Valley—adjacent to Red Rock Canyon National Conservation Area and 12 miles from the Las Vegas Strip. It offers a unique balance between the natural environment and a modern, amenity-rich living experience. According to Jose Bustamante, President of the Nevada Region for Howard Hughes, Summerlin's long-term success is due, in large part, to its thoughtful master plan and design guidelines that have stood the test of time—and continue to foster the residential, commercial, and cultural growth that underpin the community's high-quality lifestyle. Summerlin's schools, shopping centers, cultural centers, and office buildings—along with the many parks, trails, golf courses, outdoor play areas, and the extensive amenities are the cornerstone of what makes Summerlin such a highly sought-after community. The vibrant environment of Downtown Summerlin®, the community's 400-acre, mixed-use walkable urban core, continues to thrive as a regional destination. Home to over 125 retail brands and restaurants, Downtown Summerlin features best-in-class brands including Whole Foods Market, Pop Mart, CHANEL Fragrance & Beauty, and LEGO, as well as major sports venues, Class A office buildings, and a growing number of living opportunities at luxury apartment communities. 'Thanks to our roster of the nation's premier homebuilders, homes in Summerlin are available in a range of modern styles and elevations to meet the ever-changing needs and preferences of families and consumers—from single-family homes of all sizes to townhomes and condominiums offering a low-maintenance, lock-and-leave lifestyle,' said Bustamante. 'Today, we have more than 100 actively selling floorplans in 20 neighborhoods located throughout the community—offering homeowners a broad range of home options, all with a highly desirable Summerlin address. As we continue to build out the community, we are confident that Summerlin will remain on its remarkable trajectory and further grow its reputation as the best place to live in Las Vegas.' BRIDGELAND Bridgeland, located just 30 miles from downtown Houston, continues to transform the greater Northwest Houston region, offering more than 3,000 acres of dedicated open space, 500 acres of lakes and waterways, top-rated schools, expanding job opportunities, and high-quality retail and office space. Bridgeland is currently home to over 26,000 residents; at full buildout, the community is projected to include approximately 23,000 homes for over 70,000 residents. Bridgeland Central®, the 925-acre urban district in the heart of Bridgeland, exemplifies the tremendous progress that the community is making in 2025. Village Green at Bridgeland Central introduces the community's first H-E-B grocery store, 28,000 square feet of mixed-use space, and Greater Houston's first mass timber office development, One Bridgeland Green®, which is expected to open this fall. The nearly 50,000-square-foot, Class A office building reached 80% leased shortly after breaking ground, a strong indicator of the community's growing commercial momentum. 'Our vision as the master plan developer of each Howard Hughes community—including Bridgeland, The Woodlands, and The Woodlands Hills in the Houston region—remains laser focused on creating today's most sought-after places to live , ' said Jim Carman, President of the Houston Region for Howard Hughes. 'Bridgeland is on an exciting trajectory of growth and will continue to serve and attract residents seeking a community that meets their evolving needs at every phase of life, for generations to come.' About Summerlin® Summerlin began to take shape in 1990 and has ranked in the country's top 10 best-selling master planned communities for nearly two decades. Located along the western rim of the Las Vegas valley, Summerlin encompasses 22,500 acres with approximately 5,000 gross acres remaining to accommodate future growth, including infrastructure, open space and common areas, all within the master plan. The community is currently home to nearly 127,000 residents who enjoy an unparalleled list of amenities. These include more than 300 neighborhood and village parks, more than 200 completed miles of trails, 26 public and private schools, 14 houses of worship, ten golf courses, shopping centers, medical and cultural facilities, business parks and dozens of actively selling floor plans. Homes are available in a variety of styles—from single-family homes to townhomes—with offerings in a wide price range, including custom homesites in The Ridges. Summerlin is a Howard Hughes community, recognized as one of the country's premier locations to raise a family and to operate a business, named MPC of the Year for 2020 by the National Home Builders Association. For more information, visit About Bridgeland® Bridgeland is an 11,500-acre master planned community located in Cypress, Texas, and is ranked among the top-selling master planned communities in the country. The National Association of Home Builders' 2024 Master Planned Community of the Year opened in 2006 and offers a wide variety of housing options and extensive outdoor amenities, with a strong emphasis on conserving and enhancing the natural environment. Bridgeland, a LEED Pre-certified community, has over 3,000 acres dedicated to lakes, trails, and parks, and offers resort-style pools, 77 current parks, stocked lakes and complimentary use of kayaks, paddleboats, and other recreational opportunities for residents to promote a healthy and active lifestyle. Bridgeland Central®, the community's emerging 925-acre urban district is now underway with 70-acre Village Green at Bridgeland Central and will help propel future commercial growth. Bridgeland is a Howard Hughes community and supports over 180 local causes and charitable organizations in the Houston region through the company's HHCares program. For more information, visit About Howard Hughes Holdings Howard Hughes Holdings owns, manages, and develops commercial, residential, and mixed-use real estate throughout the U.S. through its wholly owned subsidiary, the Howard Hughes Corporation (HHC). Its award-winning assets include the country's preeminent portfolio of master planned communities, as well as operating properties and development opportunities including The Woodlands®, Bridgeland® and The Woodlands Hills® in the Greater Houston, Texas area; Summerlin® in Las Vegas; Teravalis™ in the Greater Phoenix, Arizona area; Ward Village® in Honolulu, Hawaiʻi; and Merriweather District in Columbia, Maryland. HHC's 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 innovative placemaking, HHC is recognized for its ongoing commitment to design excellence and to the cultural life of its communities. Howard Hughes Holdings Inc. is traded on the New York Stock Exchange as HHH. For additional information visit 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 Howard Hughes Holdings Inc.'s filings with the Securities and Exchange Commission, including its Quarterly and Annual Reports. Howard Hughes Holdings Inc. cautions you not to place undue reliance on the forward-looking statements contained in this release. Howard Hughes Holdings Inc. 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. Media Relations: Cristina CarlsonHoward Hughes [email protected] 646-822-6910
Yahoo
05-06-2025
- Business
- Yahoo
Investors warming up to build-to-rent
This story was originally published on Multifamily Dive. To receive daily news and insights, subscribe to our free daily Multifamily Dive newsletter. Following a string of successful years, the build-to-rent sector has maintained its frenzied activity pace through 2024 and into 2025. A significant amount of new build-to-rent supply has come online in the past 12 months, according to Jordan LaMarche, vice president of Bethesda, Maryland-based real estate consultancy RCLCO — a trend likely to continue for the next six months. Still, despite 2024 representing the peak of new supply, BTR still makes up only 6%-7% of total rental deliveries. 'We … think this is still very short of the potential demand for the product type overall,' La Marche said during a recent RCLCO webinar on the current state of the BTR market. Given this increase in supply, rent growth has been stagnant in BTR year over year, according to LaMarche. However, BTR has a 0.5% higher occupancy rate than multifamily overall, and weakening starts may lead to declining vacancies over the course of the year, according to LaMarche. While build-to-rent is still a newer asset class, investors have a greater understanding of BTR and their exposure to it than they did in the past, and are trying to figure out where it fits in their portfolio, according to Rick Pollack, managing director of RCLCO Fund Advisors. 'They really want to understand the fundamentals of how it works,' Pollack said. 'How does it lease? How does it operate? How can they be smarter about their investments going forward … [and] what does the end of the investment look like?' LaMarche noted that even within the confines of a single-family rental home or townhome, developers are experimenting with product type and how different features might appeal to customers or reduce costs. For instance, even within the same submarket, two BTR properties may vary widely in terms of style, unit size and garage arrangement. 'There isn't a silver bullet yet to get the exact right renter segmentation,' LaMarche said. 'But there is plenty of room for customization to potentially meet higher price points.' Pollack believes that the sector is in 'the second to third inning' of its development, but will need more time to mature completely. Currently, there are very few transactions in the BTR sector for investors to build their predictions on; as more occur, more players may enter the space as they get a better idea of the numbers involved. 'From the institutional investor standpoint, [what] gets us further along in the game is more stabilized communities and more stabilized communities that trade,' Pollack said. 'A lot of the capital market space is based on core transactions and then folks adjust their risk and return expectations on core transactions.' Based on interactions with owners and investors, LaMarche's suggestions for the single-family rental sector include: Investing in the education and marketing processes early. Because build-to-rent is a relatively small product type, renters, investors and municipalities often need more information on what it is and how it works, especially in new markets. Know your demographics. Cottage-style homes tend to attract older residents or those without children, while townhomes appeal more to families. Be strategic about amenities. Pools, fitness centers and dog parks are very valuable to renters — 'but stop there,' LaMarche said. 'Other amenities don't drive a significant premium and smaller versions do just as well as the larger ones.' Prioritize delivering amenities with the first units, in order to attract renters. However, limit the first residents' exposure to construction as much as possible. Add fences to yards. Regardless of yard size, fenced yards drive a high rent premium as spaces for kids and pets. Size driveways and garages for larger cars. Since many single-family renters are young families, they may have larger cars than the average renter and will value easy parking.
