The Howard Hughes Corporation (NYSE: HHC) today announced a partnership
with Huntsman Corporation to complete a feasibility study for expanding
the Huntsman facility in the Research Forest area of The Woodlands.
Initial plans reflect Huntsman's growing need for an increase in
research and development capacity as well as a five-story Class A
building containing 236,000 square feet and an attached garage to
accommodate up to 900 cars. The Howard Hughes Corporation took full
control of The Woodlands in July 2011 after acquiring its partner's
interest. Recently, the Howard Hughes Corporation announced that it
would begin construction in March 2012 of 3 Waterway Square as a Class
A, 240,000-square foot, eleven-story building located at The Waterway
Square District. The company is also exploring opportunities to
construct up to three new Class A office buildings and an adjacent
"We are pleased with the momentum of our retail and office developments
at The Woodlands and look forward to continuing the expansion with
Huntsman as our partner," said David R. Weinreb, Chief Executive Officer
of The Howard Hughes Corporation.
The Woodlands consists of 28,000 acres with approximately 4,300 acres
remaining to be developed. There is a total of 26.5 million square feet
of commercial space in The Woodlands, with much of it concentrated in
the 1000-acre Town Center. The Woodlands is well positioned with easy
access to Interstate 45, the Hardy Toll Road and the future Grand
Parkway, approximately 25 minutes from Bush Intercontinental Airport.
"The collaboration between the Howard Hughes Corporation and Huntsman
enables us to build from our local market expertise and realize the
strong and growing demand in The Woodlands as well as assist us in our
continued growth here," said Brian Ridd, Senior Vice President of
For more information about The Woodlands, visit www.thewoodlands.com
ABOUT THE HOWARD HUGHES CORPORATION
The Howard Hughes Corporation owns, manages and develops commercial,
residential and mixed-use real estate throughout the country.