COLUMBIA, MD-The Howard Hughes Corp. is moving forward with plans to build a retail-residential mixed use community here--the first to be approved under the city’s 2010 downtown redevelopment plan.
The first phase of the project will include 375 residential rental units and more than 14,000 square feet of rental space. Howard Hughes Corp. did not return a call from GlobeSt.com in time for publication.
The company is partnering with Kettler, a multifamily developer based in McLean, VA and Orchard Development, an Ellicott City, MD-based multifamily developer. Downtown Columbia’s redevelopment plan allows for up to 13 million square feet of net new density, consisting of 5,500 residential units, five million square feet of office, one million square feet of retail and up to 640 hotel rooms.
Since its spin-off from General Growth Properties last year, the Howard Hughes Corp., headed by David Weinreb, has focused on development opportunities in master-planned communities. It has in its portfolio four communities encompassing more than 14,000 acres of land remaining to be sold. These include Summerlin in Las Vegas, Bridgeland and the Woodlands in Houston and Columbia, Fairwood and Emerson in Maryland.
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Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
