Global Energy Leader’s Expansion into Bridgeland® Signals Growth of Emerging Urban Hub in One of the Nation’s Top-Selling Master Planned Communities
Howard Hughes Holdings Inc. (NYSE: HHH) announced today that Chevron U.S.A. Inc. has purchased over 77 acres in Bridgeland Central®, the award-winning master planned community of Bridgeland®. The acquisition signals continued growth for the Howard Hughes community and the commercial development of Bridgeland Central, the emerging 925-acre urban hub positioned to transform Bridgeland and the Northwest Houston region.
“Chevron’s acquisition marks a pivotal moment for Bridgeland as the community enters its next phase of development as a leading job center for the region,” said Jim Carman, President of the Houston Region for Howard Hughes. “One of the top-selling communities in the country, Bridgeland is poised to benefit from the influx of businesses and their employees seeking to live and work in a centralized location that offers commercial opportunities as well as single-family and multifamily housing options to meet growing demand.”
Bridgeland is on track to experience a record-setting pace in home sales for the year, reflecting the growth of the community and the increased demand for office, retail, dining, medical, hospitality and entertainment.
“Chevron is attracted to the opportunities Bridgeland has to offer and views this acquisition as a strong addition to our asset portfolio,” said Daniel Abate, Head of Corporate Real Estate for Chevron. “We take pride in contributing to the communities where we live and work and are excited about the potential of establishing a research and development campus in Bridgeland to advance our work toward achieving a lower carbon energy future.”
The acquisition follows the recently announced first phase of Bridgeland Central with the start of construction of Village Green at Bridgeland Central®, which will include the community’s first H-E-B grocery store and the first mass timber office development for both Howard Hughes and the 12-county Greater Houston area.
“Howard Hughes communities stand out for their business-friendly environment with ample build-to-suit opportunities that provide companies the flexibility and potential for growth that is critical in today’s evolving landscape,” said David R. O’Reilly, Chief Executive Officer of Howard Hughes. “Across the country, our communities provide an unrivaled quality of life for all generations—which is imperative as companies strive to attract and retain top talent. Our Houston region is a growing hub for leading companies that are innovating in energy, technology, life sciences and other industries that are shaping the future of the new economy.”
Following in the tradition of Howard Hughes communities such as Summerlin® in Nevada; Downtown Columbia® in Maryland; and The Woodlands® in Texas, Bridgeland is attracting industry leaders with its vibrant, walkable, mixed-use town center which will feature commercial and residential offerings integrated into a natural landscape with parks, lakes, trails and open space.