Stephan succeeds Kevin Orrock whose
decades-long leadership has delivered exceptional growth for one of
country's leading master planned communities
LAS
VEGAS, March 1, 2023 /PRNewswire/ -- The Howard
Hughes Corporation® (NYSE: HHC) announced today that
Frank Stephan has been named
President of the company's Nevada
region, where he will oversee the acclaimed
Summerlin® master planned community in Las Vegas. Stephan succeeds long-time regional
president Kevin Orrock, who has
played a key role in the growth and success of the community since
its inception. Orrock will remain with Howard Hughes as a senior
advisor.
Located along the western rim of the Las Vegas Valley, Summerlin
is consistently ranked among the best places to live in the country
and is one of the top-selling communities nationwide. With over
120,000 residents and a thriving, walkable urban core, Summerlin
encompasses 22,500 acres, with approximately 5,000 gross acres
remaining to accommodate future growth.
"We are fortunate to have Frank leading Summerlin's next chapter
of long-term, sustainable growth and continuing the community's
decades-long trajectory of success," said David R. O'Reilly,
Chief Executive Officer of The Howard Hughes Corporation. "Frank
brings an entrepreneurial spirit and unique depth of operational
and development experience—along with an impressive portfolio of
residential, office, retail, and performing arts projects—that make
him a great addition to Howard Hughes and to the Summerlin
team."
Stephan has over 25 years of experience executing complex real
estate developments in New York
and Los Angeles. Prior to joining
HHC, he served as head of The Clarett Group's West Coast
operations, and most recently as Senior Managing Director at
Clarett West Development, where he designed, entitled, constructed,
and stabilized 1.2 million square feet of large-scale mixed-use
projects in Los Angeles. He
previously served as Senior Project Manager in Construction
Management for Bovis Lend Lease LMB, Inc.
Stephan brings to Howard Hughes a valuable cross-disciplinary
perspective in architecture, construction management, and real
estate development—with a resume including the design, entitlement,
and delivery of 2 million square feet of residential development,
approximately 700,000 square feet of large-scale retail and office
development, and six off-Broadway theatres. Stephan earned a
Bachelor of Arts in Architecture from Columbia
University, and a Master of Science in Real Estate
Development and Investment with distinction from New York University.
"I am honored to join the exceptional team at Howard Hughes that
has developed Summerlin into one of our country's most desirable
locations," said Stephan. "I look forward to helping Summerlin
continue on its path of unparalleled success in the Nevada region and providing the extraordinary
quality of life that is emblematic of every Howard Hughes
community."
Summerlin exemplifies The Howard Hughes Corporation's legacy of
responsible stewardship and provides an exceptional quality of life
that has made it one of the top-selling and most sought-after
communities in the country. Now in its 33rd year of
development, Summerlin offers more amenities and educational
choices than any other Southern Nevada
community, including over 300 parks, 200-plus miles of
interconnected trails, and ten golf courses, along with 26 private,
charter and public schools—among the highest-rated public schools
in the Las Vegas Valley.
Summerlin residents enjoy the distinct natural beauty and
outdoor activities of Red Rock Canyon National Conservation Area
along with all the amenities of Downtown Summerlin®, the
community's walkable urban core. Downtown Summerlin includes
world-class dining, retail, entertainment as well as Class-A
office, with convenient access to City National Arena, practice
facility of the National Hockey League's Vegas Golden Knights, and
home to Las Vegas Ballpark®, a world-class Triple-A
baseball stadium and home of the Las Vegas
Aviators®.
Summerlin's reputation as a leader in innovative development has
been overseen by Orrock since its inception. Orrock's five-decade
career at the company began at the famed Desert Inn Hotel in
Las Vegas in 1974, then owned by
Summa Corporation, predecessor to The Howard Hughes
Corporation.
"Kevin's integrity, leadership, and true understanding of the
southern Nevada landscape has
underpinned Summerlin's ongoing acclaim for over 30 years," said
O'Reilly. "Kevin's visionary transformation of 22,500 acres in
Las Vegas into the region's
premier community is an incredible success story for Nevada and for our company."
"Summerlin's enduring success is due in large part to
Howard Hughes' long-term, thoughtful
master planning that has enabled the community to grow and maintain
the high-quality lifestyle and development standards originally
envisioned more than 33 years ago," said Orrock. "I am proud to
have helped define the Summerlin legacy and look forward to seeing
Frank drive the future growth and success of this truly outstanding
community."
About The Howard Hughes Corporation®
The
Howard Hughes Corporation owns, manages, and develops commercial,
residential, and mixed-use real estate throughout the U.S. Its
award-winning assets include the country's preeminent portfolio of
master planned communities, as well as operating properties and
development opportunities including: the Seaport in New York City; Downtown Columbia® in Maryland; The
Woodlands®, Bridgeland®, and The
Woodlands Hills® in the Greater Houston,
Texas area; Summerlin® in Las Vegas; Ward
Village® in Honolulu, Hawaiʻi; and Teravalis™
in the Greater Phoenix, Arizona
area. The Howard Hughes Corporation's portfolio is strategically
positioned to meet and accelerate development based on market
demand, resulting in one of the strongest real estate platforms in
the country. Dedicated to innovative placemaking, the company is
recognized for its ongoing commitment to design excellence and to
the cultural life of its communities. The Howard Hughes Corporation
is traded on the New York Stock Exchange as HHC. For additional
information visit https://www.howardhughes.com/.
Contacts:
The Howard Hughes
Corporation
Cristina Carlson,
646-822-6910
Senior Vice President, Head of Corporate Communications
cristina.carlson@howardhughes.com
For HHC Investor Relations
Eric Holcomb, 281-475-2144
Senior Vice President, Investor Relations
eric.holcomb@howardhughes.com
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SOURCE The Howard Hughes Corporation
