The Howard Hughes Corporation (NYSE: HHC) was spun off from General Growth Properties (GGP ) in 2010. It is headquartered in Dallas, Texas, and has 1,000 full-time employees. It is a company engaged in community master planning and mixed use in the United States. Companies that develop and operate other real estate properties.
The Howard Hughes Corporation (HHC):
The Howard Hughes Corporation is mainly divided into 3 departments to operate: master planning community, operating assets and strategic development.
- Master planning community department: development and sale of residential and commercial land. Residential land for sale is designated detached and connected single and multi-family residences, ranging from entry-level to luxury residences to house builders; commercial land is designated for sale , Office, vacation, service and other profit-making activities, and designated for use by the government, schools and other non-profit organizations. The department owns 5 master planned communities with approximately 13,000 acres of land.
- Operating assets department: Owns retail and office properties, multi-unit apartment buildings, a resort and conference center, a 36-hole golf course and country club, and other operating assets and investments.
- Strategic Development Department: Including short, medium and long-term real estate development projects. Real estate investment opportunities in this sector include mixed-use commercial development, retail parts, office buildings, multi-family projects, shopping mall development projects, reconstruction projects and other property interests.
The Howard Hughes Corporation (HHC) history:
- In 1913, Walter Sharp and Howard Hughes, Sr. founded Sharp-Hughes Tool Company;
- In 1972, The Howard Hughes Corporation, a subsidiary of Hughes Tool Company, was established and landed on the New York Stock Exchange, adopting the name of Hughes Tool, and the remaining business was renamed Summa Corporation;
- In 1976, Howard Hughes, Sr. died at the age of 70;
- In 1994, Summa changed its name to The Howard Hughes Corporation and shifted its business focus to real estate;
- In 2010, it was divested from General Growth Properties (GGP).