New Non-Profit Commits Initial $1 Million to Support Local Community Efforts in Hawai'i
HONOLULU (January 13, 2014) – The Howard Hughes Corporation (NYSE: HHC) today launched the Ward Village Foundation with an initial commitment of $1 million to support the local community over the next two years. The Ward Village Foundation will serve as a non-profit corporation connected to The Howard Hughes Corporation's efforts to build a bright and vibrant future in Hawai'i as it implements its long-term plans for Ward Village. The 60-acre master planned community is envisioned as a thoughtfully-designed, sustainable neighborhood that incorporates the site's rich history and creates a gathering place between downtown Honolulu and Waikīkī.
"The Howard Hughes Corporation is proud to introduce the Ward Village Foundation, furthering our commitment to improving the quality of life in our community," said David Striph, Senior Vice President of Hawai'i for The Howard Hughes Corporation. "The Ward Village Foundation will focus on forward-thinking initiatives that honor Hawai'i's rich history by fostering the community that will continue to make Ward Village an ideal neighborhood to live, work, shop, learn and play."
Consistent with its mission to create timeless places and memorable experiences, The Howard Hughes Corporation's initial $1 million contribution will support local non-profits and initiatives that align with the Ward Village Foundation's core initiatives of Culture ForWard, Community ForWard and Environment ForWard. The funds will be administered over the course of the next two years, with grant applications available to interested organizations.
In conjunction with the launch of the Ward Village Foundation, The Howard Hughes Corporation also announced the foundation's first grant recipient, pledging $100,000 to locally-based non- profit Kupu. The funds will be used towards the development of the Kupu Green Jobs Training Center located near Point Panic at Kewalo Basin. Through its partnerships with more than 80 public and private organizations, Kupu provides experiential education and life skills development opportunities to help youth and young adults succeed in life and create lifelong community servants. From this facility, Kupu will develop the next generation of local talent to take the helm of the new "green" industries moving in Hawai'i.
"Kupu is an outstanding example of an organization that aligns with our foundation's core values, promoting culture, community and environment through their work training and educating Hawai'i's youth in sustainable job fields with an emphasis on promoting traditional Hawaiian values," said Nick Vanderboom, Senior Vice President, Development for The Howard Hughes Corporation.
"On behalf of Kupu, I would like to commend The Howard Hughes Corporation, one of Honolulu's true community builders, for making a concerted effort to better the local community," said John Leong, Executive Director of Kupu. "The establishment of the Ward Village Foundation is a significant gift to the community at large, and this grant will make a significant impact on our efforts to equip our youth with the skills and heart to lead our state towards a more sustainable future."
For more information on the Ward Village Foundation please visit the website at www.wardvillagefoundation.org.
Over the next decade, Ward Village will transform into a mixed-use community, offering unique retail experiences and exceptional residences set among dynamic public open spaces and walkable streets. Environmental stewardship is forefront in the Ward Village Master Plan, which was recently awarded LEED for Neighborhood Development (LEED-ND) Platinum Certification, the highest certification possible, making it the largest LEED-ND Platinum-Certified project in the country and the only one in Hawai'i. An information center and residential sales gallery for Ward Village at the newly renovated, iconic IBM Building will open in January 2014. Sales at Ward Village's first two mixed-use residential projects: Waiea, at 1118 Ala Moana Boulevard, and Anaha, at 1108 Auahi Street, will begin in early 2014.
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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