The Howard Hughes Corporation (NYSE: HHC) and Macy’s, Inc. (NYSE: M) today announced that Macy’s will serve as the first anchor for the Shops at Summerlin. The agreement confirms the restart of the highly-anticipated development in the heart of the acclaimed Summerlin master planned community.
The Shops at Summerlin, one of the premier regional mixed-use development sites in the U.S., will be part of a planned urban center which will serve the entire Las Vegas Valley. When complete, it will include retail, entertainment, office, hotel and multi-family residential, designed to create a vibrant, walkable urban core in the heart of the affluent 22,500-acre master planned community.
The Shops at Summerlin will feature over 125 stores and restaurants in an open-air shopping environment with pedestrian thoroughfares and engaging storefronts. The contemporary “Main Street” concept will incorporate cooling shade features, rich desert landscaping and outdoor dining to create a destination with an authentic Las Vegas sophistication and glamour. The 106-acre, 1.5 million square foot complex along the Clark Country 215 Beltway will also include a nine-story office building.
Macy’s will build a two-level, 180,000-square-foot store in the Shops at Summerlin, with opening scheduled for fall 2014. It will be the first full-line Macy’s store to open in the Las Vegas market since 1996. The Macy’s will include fashions for men, women, children and home. Construction of the Macy’s store is expected to begin in fall 2013.“Macy’s will be an exceptional cornerstone in the high-end retail experience we are creating for the Las Vegas Valley community,” said Kevin Orrock, president of Summerlin and vice president of master planned communities for The Howard Hughes Corporation. “This milestone confirms that the Las Vegas economy is recovering, with Summerlin leading the way.”
Select the service that is right for you!COMPARE ALL SERVICES
- $2.5+ million portfolio
- Large-cap and dividend focus
- Intraday trade alerts from Cramer
- Weekly roundups
Access the tool that DOMINATES the Russell 2000 and the S&P 500.
- Buy, hold, or sell recommendations for over 4,300 stocks
- Unlimited research reports on your favorite stocks
- A custom stock screener
- Upgrade/downgrade alerts
- Diversified model portfolio of dividend stocks
- Alerts when market news affect the portfolio
- Bi-weekly updates with exact steps to take - BUY, HOLD, SELL
- Real Money + Doug Kass Plus 15 more Wall Street Pros
- Intraday commentary & news
- Ultra-actionable trading ideas
- 100+ monthly options trading ideas
- Actionable options commentary & news
- Real-time trading community
- Options TV