ALEXANDRIA, Va.--(EON: Enhanced Online News)--The Howard Hughes Corporation® (NYSE: HHC) announced today that it has acquired the 11.4 acre Macy’s store and parking field at Landmark Mall in Alexandria, VA, located approximately nine miles from Washington, DC. Building on the initial rezoning approval by the Alexandria City Council in June 2013, the company plans to transform the enclosed mall, which originally opened in 1965, and the Macy’s parcel into a vibrant open-air, mixed-use community with retail, residential and entertainment components designed to create a dynamic urban village on the west end of Alexandria. In addition to a fresh line-up of retail offerings and Class A residences, the new Landmark will feature multiple plazas and green spaces, outdoor seating, an updated transit center, seasonal entertainment, public art, numerous full-service and fast-casual dining options and a luxury cinema.
“This acquisition enables us to increase the scale of this catalytic redevelopment and transform Landmark into a vibrant destination attracting area residents and visitors.”
“Our vision is to revive the site and create a new urban hub on the west end of Alexandria,” said Mark Bulmash, Senior Vice President of Development for The Howard Hughes Corporation. “This acquisition enables us to increase the scale of this catalytic redevelopment and transform Landmark into a vibrant destination attracting area residents and visitors.”
In connection with the future redevelopment, The Howard Hughes Corporation is planning to close the interior portion of Landmark Mall at the end of January. A definitive timeline for the redevelopment has not been finalized.
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 15 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 or find us on Facebook, Twitter, Instagram and LinkedIn.
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.