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Oct 13, 2015

Construction of AE'O Condominiums and Whole Foods Market® at Ward Village® Will Start in March 2016

Press Contacts

Caryn Kboudi, The Howard Hughes Corporation, caryn.kboudi@howardhughes.com, (214) 741-7744

Urban Master Planned Community Developed by The Howard Hughes Corporation® Continues to Make Progress

HONOLULU (October 14, 2015) ‐ Ward Village®, a master‐planned community by The Howard Hughes Corporation® (NYSE: HHC), has announced that construction of the 466‐unit Aeʻo at 1001 Queen Street, including Oʻahu's flagship Whole Foods Market®, will begin in March 2016 with anticipated completion in 2018.

"We are thrilled to break ground next year on Aeʻo, which will bring exceptional new homes and Oʻahu's flagship Whole Foods Market to the Ward Village neighborhood," said Nick Vanderboom, Senior Vice President of Development for The Howard Hughes Corporation. "The convenient lifestyle that Ward Village offers is only getting better with each new project that brings the live‐work‐play concept to life in the heart of Honolulu."

Designed by award winning and world‐renowned architects Bohlin Cywinski Jackson, the Aeʻo condominium development is centrally located in the heart of Ward Village and will include studios, one‐, two‐ and three‐bedroom residences ranging from 409 to 1,331 square feet. Each residence will include ocean views and will sit atop the highly anticipated Whole Foods Market store. Aeʻo will also include approximately 12,000 square feet of additional retail space with outdoor seating and ample retail parking for the Ward Village neighborhood.

The building amenities will offer the best in healthy living, including a lap pool with ocean views; a dedicated family activity area with a pool and generous children's play area; a climate‐controlled gym with ocean views; an outdoor lanai for yoga and meditation; a wellness center with steam and sauna rooms; a private theater; dog‐run area; surfboard and bicycle storage; and outdoor dining spaces for small and large gatherings. The masterfully designed residences may also be customized at the Aeʻo sales gallery where owners can tailor their finishes to create a truly personalized home.

After selling more than 110 units to local residents within the first week of sales in late July, Aeʻo continues to draw strong interest from buyers who value the lifestyle and convenience of living in Honolulu's most walkable community.

For more information, call the Ward Village Information Center and Residential Sales Gallery at 808‐369‐9600 or visit aeowardvillage.com.


About Ward Village®

Developed by The Howard Hughes Corporation, Ward Village is a new 60-acre coastal master planned community in the heart of Honolulu located between downtown and Waikīkī in the Kakaʻako district. Ward Village includes two mixed-use residential towers – Waiea and Anaha – that are now under construction and will transform the popular shopping and dining district into a vibrant neighborhood that offers exceptional residences with incredible island and ocean views and a carefully curated mix of retail experiences set among dynamic public open spaces and walkable streets.

This growing community will include three additional developments: Ae'o at 1001 Queen Street, Gateway Towers and Ke Kilohana at 988 Halekauwila Street. Aeʻo at 1001 Queen Street is a 466-unit mixed-use condominium tower anchored by a flagship Whole Foods Market. The extraordinary first building of Gateway Towers on Ala Moana Boulevard will bring the architecture of world-renowned architect Richard Meier to the Honolulu skyline. Ke Kilohana will bring housing targeted for local residents and a 23,000 square foot Long's Drugs to the neighborhood.

The vision for Ward Village is consistent with the master plan approved by the HCDA in 2009, which allows for up to 9.3 million square feet of mixed-use development and will include over 4,000 residences and over 1 million square feet of retail space.

Ward Village is Hawaiʻi's only LEED-ND Platinum-Certified project and the largest neighborhood development in the country to receive such a prestigious certification. The Information Center and Residential Sales Gallery is located at the iconic IBM Building. For more information, visit www.wardvillage.com.

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 16 states from New York to Hawai'i. The Howard Hughes Corporation is traded on the New York Stock Exchange as HHC with major offices in New York, Columbia, MD, Dallas, Houston, Las Vegas and Honolulu. For additional information about HHC, visit www.howardhughes.com.

Safe Harbor Statement

Statements made in this press release that are not historical facts, including statements accompanied by words such as "will," "believe," "expect," "enables," "realize", "plan," "intend," "assume," "transform" 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.

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This is not intended to be an offer to sell in any jurisdiction where prohibited by law. Ward Village is a proposed master planned development in Honolulu, Hawaii that does not yet exist. Exclusive Project Broker Ward Village Properties, LLC. Copyright 2020. Equal Housing Opportunity. Exclusive Project Broker for Ke Kilohana - Locations LLC. Copyright 2020. Equal Housing Opportunity.

Notice to New York Residents - The developer of Ward Village and its principals are not incorporated in, located in, or resident in the state of New York. No offering is being made in or directed to any person or entity in the state of New York or to New York residents by or on behalf of the developer/offeror or anyone acting with the developer/offeror’s knowledge. No such offering, or purchase or sale of real estate by or to residents of the state of New York, shall take place until all registration and filing requirements under the Martin Act and the Attorney General’s regulations are complied with, a written exemption is obtained pursuant to an application is granted pursuant to and in accordance with Cooperative Policy Statements #1 or #7, or a “No-Action” request is granted.

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