{"id":1004102290,"date":"2014-08-14T10:22:01","date_gmt":"2014-08-14T18:22:01","guid":{"rendered":"https:\/\/synd.yardi.com\/?p=284496"},"modified":"2020-05-13T00:34:53","modified_gmt":"2020-05-13T08:34:53","slug":"howard-hughes-corp-acquires-2000-acres-of-land-for-residential-development","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/howard-hughes-corp-acquires-2000-acres-of-land-for-residential-development\/","title":{"rendered":"Howard Hughes Corp. Acquires 2,000 Acres of Land for Residential Development"},"content":{"rendered":"<p><em>By Liviu Oltean, Associate Editor<\/em><\/p>\n<p>Dallas-based Howard Hughes Corp. revealed in its second-quarter earnings report that it has closed on 1,343 acres of undeveloped land 13 miles north of The Woodlands. Furthermore, it has entered into a sale and purchase agreement slated to close in September 2014 to acquire 652 adjacent acres from a different seller.<\/p>\n<p>The company plans to use 1,834 acres for residential development and 161 acres for commercial development. According to HHC\u2019s estimates, the land will yield more than 4,600 lots, of which the first are expected to be finished and sold in 2016.<\/p>\n<div id=\"attachment_284502\" class=\"wp-caption alignright\" style=\"width: 310px\"><a href=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/08\/The-Woodlands-Aerial-April-2009-Credit-The-Woodlands-Convention-Visitors-Bureau.jpg\"><img loading=\"lazy\" decoding=\"async\" class=\"size-medium wp-image-284502\" title=\"The Woodlands Aerial - April 2009 - Credit The Woodlands Convention &amp; Visitors Bureau\" src=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/08\/The-Woodlands-Aerial-April-2009-Credit-The-Woodlands-Convention-Visitors-Bureau.jpg\" alt=\"\" width=\"300\" height=\"225\" \/><\/a><\/p>\n<p class=\"wp-caption-text\">The Woodlands Aerial<\/p>\n<\/div>\n<p>The master-planned community at The Woodlands is well underway, with more than 2.4 million square feet of new office space in development, as reported by the <a href=\"https:\/\/www.houstonchronicle.com\/business\/real-estate\/article\/Developer-of-The-Woodlands-marches-north-5677792.php\" rel=\"nofollow\" >Houston Chronicle<\/a>. In addition, to the south of The Woodlands, there is another gargantuan development &#8211; the Exxon Mobil campus, a 385-acre development designed to accommodate more than 10,000 employees.<\/p>\n<p>Given the tremendous amount of office space under development and the fact that The Woodlands is running out of developable land, it comes as no surprise to see interest in creating even more housing in the neighboring areas, a trend also suggested by the company\u2019s earnings report:<\/p>\n<p>\u201cThe market for residential land in The Woodlands remains strong. The average price per detached single-family acre at The Woodlands increased 10 percent, or $62,000, to $683,000 for the three months ended June 30, 2014, compared to $621,000 for the same period in 2013. Average price per detached single-family finished lot decreased slightly, from $168,000 to $163,000, due to smaller average lot sizes sold in second quarter 2014 compared to second quarter 2013.\u201d<\/p>\n<p><em>Photo courtesy of The Woodlands Convention &amp; Visitors Bureau<\/em><\/p>\n<div><em><br \/>\n<\/em><\/div>\n","protected":false},"excerpt":{"rendered":"<p>By Liviu Oltean, Associate Editor Dallas-based Howard Hughes Corp. revealed in its second-quarter earnings report that it has closed on 1,343 acres of undeveloped land 13 miles north of The Woodlands. Furthermore, it has entered into a sale and purchase agreement slated to close in September 2014 to acquire 652 adjacent acres from a different [&#8230;]<\/p>\n","protected":false},"author":1158,"featured_media":0,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1589,21742],"tags":[687,39438,1815],"class_list":["post-1004102290","post","type-post","status-publish","format-standard","hentry","category-houston","category-latest","tag-features","tag-houston","tag-national"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Howard Hughes Corp. Acquires 2,000 Acres of Land for Residential Development - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/howard-hughes-corp-acquires-2000-acres-of-land-for-residential-development\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Howard Hughes Corp. Acquires 2,000 Acres of Land for Residential Development\" \/>\n<meta property=\"og:description\" content=\"By Liviu Oltean, Associate Editor Dallas-based Howard Hughes Corp. revealed in its second-quarter earnings report that it has closed on 1,343 acres of undeveloped land 13 miles north of The Woodlands. Furthermore, it has entered into a sale and purchase agreement slated to close in September 2014 to acquire 652 adjacent acres from a different [...]\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.commercialsearch.com\/news\/howard-hughes-corp-acquires-2000-acres-of-land-for-residential-development\/\" \/>\n<meta property=\"og:site_name\" content=\"Commercial Property Executive\" \/>\n<meta property=\"article:publisher\" content=\"https:\/\/www.facebook.com\/CPExecutive\" \/>\n<meta property=\"article:published_time\" content=\"2014-08-14T18:22:01+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2020-05-13T08:34:53+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/synd.yardi.com\/wp-content\/uploads\/sites\/46\/2014\/08\/The-Woodlands-Aerial-April-2009-Credit-The-Woodlands-Convention-Visitors-Bureau.jpg\" \/>\n<meta name=\"author\" content=\"Liviu Oltean\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:creator\" content=\"@cpexecutive\" \/>\n<meta name=\"twitter:site\" content=\"@cpexecutive\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/howard-hughes-corp-acquires-2000-acres-of-land-for-residential-development\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/howard-hughes-corp-acquires-2000-acres-of-land-for-residential-development\\\/\"},\"author\":{\"name\":\"Liviu Oltean\",\"@id\":\"https:\\\/\\\/www.commercialsearch.com\\\/news\\\/#\\\/schema\\\/person\\\/a12696609e74785a9cb5f8f7eae8bbd0\"},\"headline\":\"Howard Hughes Corp. 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