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.
“Our plan to create a dynamic downtown for Summerlin with a line-up of best-in-class retail and entertainment experiences exemplifies our mission to create timeless places and our commitment to excellence,” said David R. Weinreb, CEO of The Howard Hughes Corporation. “Summerlin is an important asset which will deliver meaningful, long-term value to our shareholders.”“Macy’s Summerlin will focus on the residential population in this important market,” said Peter Sachse, Macy’s chief stores officer. “We will be tailoring our merchandise assortments of well-known brands to local customer needs, with an emphasis on the distinctive fashion, value and magical shopping experience for which Macy’s is known.” The Shops at Summerlin is expected to open in late 2014. The project is expected to provide approximately 1,700 jobs during construction and 2,000 when fully open. 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 18 states from New York to Hawaii. The Howard Hughes Corporation is traded on the New York Stock Exchange as HHC and is headquartered in Dallas, TX. For additional information about HHC, visit www.howardhughes.com. About Macy’s Macy's, the largest retail brand of Macy's, Inc., delivers fashion and affordable luxury to customers at more than 800 locations in 45 states, the District of Columbia, Puerto Rico and Guam. Macy's stores and macys.com offer distinctive assortments including the most desired family of exclusive and fashion brands for him, her and home. Macy's is known for such epic events as Macy's 4th of July Fireworks® and the Macy's Thanksgiving Day Parade®, as well as spectacular fashion shows, culinary events, flower shows and celebrity appearances. Building on a 150-year tradition, Macy's helps strengthen communities by supporting local and national charities that make a difference in the lives of our customers.
Safe Harbor StatementStatements made in this press release that are not historical facts, including statements accompanied by words such as “will,” “believe,” “expect,” “enables,” “realize,” “plan,” “intend,” “transform,” “confirm” 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. Photos/Multimedia Gallery Available: http://www.businesswire.com/cgi-bin/mmg.cgi?eid=50414771&lang=en