Company Snapshot
Volume XXXVII, Issue VII & VIII
- 21 -
Segment Assets
Source: HHC 10-Q, June 30, 2011
The following table summarizes HHC’s master planned communities as of December 31, 2010:
Total
People Living Remaining
Saleable
Acres
(b)
Projected
Community
Community
Location
(%)
Gross
Acres
(a)
in Community
(Approx. No.) Residential
(c)
Commercial
(d)
Total
Other
Acres
Sell-Out
Date
Summerlin
Las Vegas, NV
100.0
22,500
100,000
5,995
906
6,901 —
2039
Bridgeland
Houston, TX
100.0
11,400
3,750
3,863
1,226
5,089 —
2036
Maryland
Columbia
Town Center Howard County
100.0
14,200
100,000
—
—
— 40
(e)
2020
(g)
Gateway
Howard County
100.0
630
—
—
121
121 —
2017
Emerson
Howard County
100.0
520
2,000
9
68
77 —
2017
Fairwood
Prince George’s Cty 100.0
1,100
2,300
—
11
11 24
2013
The Woodlands Houston, TX
52.5
(f)
28,400
97,000
1,013
973
1,986 —
2022
Total
78,750
305,050
10,880
3,305
14,185 64
(a) Encompasses all of the land located within the borders of the master planned community, including parcels already sold, saleable parcels and
non-saleable areas, such as roads, parks and recreation and conservation areas.
(b) Includes only parcels that are intended for sale or joint venture. The mix of intended use, as well as the amount of remaining saleable acres, are
primarily based on assumptions regarding entitlements and zoning of the remaining project and are likely to change overtime as the master plan is
refined. Remaining saleable acres are estimates.
(c) Includes standard, custom and high density residential land parcels. Standard residential lots are designed for detached and attached single- and
multi-family homes, of a broad range, from entry-level to luxury homes. At Summerlin, HHC has designated certain residential parcels as custom
lots as their premium price reflects their larger size and other distinguishing features - such as being within a gated community, having golf course
access, or being located at higher elevations. High density residential includes townhomes, apartments and condominiums.
(d) Designated for retail, office, resort, services and other for-profit activities, as well as those parcels allocated for use by government, schools,
houses of worship and other not-for-profit entities.
(e) Reflects the number of net developable acres in raw land and subdivided land parcel available for new development, but which the Company
currently intends to hold.
(f) Reflects HHC’s current economic interest. Our ownership interest is 42.5% and we make decisions with our joint venture partner.
(g) Reflects the projected redevelopment completion date.
Source: HHC 10-K, December 31, 2010
Company Snapshot
Volume XXXVII, Issue VII & VIII
- 22 -
The following table summarizes HHC’s retail operating assets as of December 31, 2010:
Asset
Location
Existing
Gross Leasable
Area
Size
(Acres)
Net Book
Value
(Millions)
Acquisition
Year
Ward Centers
Honolulu, HI
1,000,817
(a)
60
$336.3
2002
South Street Seaport
New York, NY
298,759
(b)
11
3.1
2004
Landmark Mall
Alexandria, VA
440,325
(c)
22
23.5
2004
Park West
Peoria, AZ
249,168
48
82.0
2006
Rio West Mall
Gallup, NM
333,077
(b)(d)
50
11.4
1981
(e)
Riverwalk Marketplace New Orleans, LA
194,452
(b)
11
11.7
2004
Cottonwood Square
Salt Lake City, UT 77,079
(b)
21
5.2
2002
Total
2,593,677
223
$473.2
(a) Excludes 153,928 SF related to ground leases of which HHC is the lessor.
(b) All of the project is on a ground lease where HHC is the ground lessee.
(c) Excludes 438,937 SF in project that is owned and occupied by Sears and Macy’s.
(d) Excludes 180,946 SF of outparcel improvements in project currently owned by tenant.
(e) Reflects the year that Rio West Mall opened.
Source: HHC 10-K, December 31, 2010
The following table summarizes HHC’s strategic development projects as of December 31, 2010:
Asset
Location
GLA
Size
(Acres)
Net Book
Value
(Millions)
Acquisition
Year
Bridges at Mint Hill
Charlotte, NC
—
162
$ 12.4
2007
Circle T Ranch and Power Center
(a)
Dallas/Ft. Worth, TX
—
279
9.0
2005
Elk Grove Promenade
Elk Grove, CA
—
100
10.7
2003
The Shops at Summerlin Centre
Las Vegas, NV
—
106
35.6
2004
Ala Moana Condo Project
Honolulu, HI
—
—
22.8
2002
(c)
AllenTowne
Allen, TX
—
238
25.4
2006
Cottonwood Mall
Holladay, UT
6,600
54
20.3
2002
Kendall Town Center
Kendall, FL
—
91
18.6
2004
West Windsor
Princeton, NJ
—
658
20.6
2004
Fashion Show Air Rights
Las Vegas, NV
—
—
—
2004
Alameda Plaza
Pocatello, ID
190,341
22
2.4
2002
Century Plaza
Birmingham, AL
169,072
(b)
63
4.5
1997
Village at Redlands
Redlands, CA
—
5
6.9
2004
Redlands
Promenade
Redlands, CA
—
10
2.8
2004
Lakemoor (Volo) Land
Lakemoor, IL
—
40
0.3
1995
Maui Ranch Land
Maui, HI
—
10
—
2002
Nouvelle at Natick
Natick, MA
—
—
13.4 2007
(c)
Total
366,013
1,838
$ 205.7
(a) Represents HHC’s 50% interest in these two development projects.
(b) Operating tenant space totals 16,706 square feet.
(c) Represents date of initial construction.
Source: HHC 10-K, December 31, 2010