DALLAS--(BUSINESS WIRE)--Jan. 11, 2012-- The Howard Hughes Corporation (NYSE: HHC) today announced The Woodlands has assumed a leadership role in the development of Bridgeland, another premier Houston-area master planned community. The Howard Hughes Corporation took full control of The Woodlands in July 2011, acquiring its partner’s interest. With nearly 40 years of successful real estate development to its credit, The Woodlands’ team brings relevant expertise to help Bridgeland realize its full potential as a master planned community. Both communities are among the best-selling master planned communities in the U.S. The Woodlands currently ranks #3 and Bridgeland ranks #12 by Metrostudy Report, a leading real estate advisory firm.*

“There are many similarities between The Woodlands, founded in 1974, and Bridgeland, now celebrating its fifth anniversary,” said Grant Herlitz, President of The Howard Hughes Corporation, “Both communities practice sustainability and were designed to highlight the natural environment, with features such as plentiful greenspace, trails, parks and lakes, natural drainage, preservation of native vegetation and wildlife, and walkable environments within residential villages.”

The Woodlands is 28,000 acres with approximately 4,300 acres remaining to be developed. Approximately 100,000 people live in The Woodlands and 47,000 people work there. Bridgeland, at 11,000 acres, has approximately 1,300 occupied homes and 4,000 residents.

Both communities also feature a wide variety of housing options, extensive outdoor recreation, an emphasis on lifelong learning, and appeal to a family-oriented target market. The Woodlands has a thriving 1,000-acre Town Center with 26.5 million square feet of commercial space. Bridgeland has plans to develop an 800-acre Town Center as well as retail within the residential villages.

The Woodlands is well positioned with easy access to Interstate 45 and the Hardy Toll Road, approximately 25 minutes from Bush Intercontinental Airport. Situated near US 290, Bridgeland’s proximity to a new segment of the proposed Grand Parkway, scheduled for completion in two years, will provide even greater accessibility.

The Woodlands development team is led by co-presidents Alex Sutton and Tim Welbes, who will also oversee development at Bridgeland. Peter Houghton, vice president of master planned community development for HHC, will continue in his role as project manager with onsite leadership at Bridgeland.

“This collaboration among the best experts in real estate development in the Houston area, as well as the country, will continue The Woodlands’ legacy of success at Bridgeland,” Herlitz said. “We look forward to this partnership accelerating Bridgeland reaching the legendary stature of The Woodlands, one of only 26 planned communities worldwide to be highlighted in the Urban Land Institute’s book, ‘Great Planned Communities’.”**