FOR IMMEDIATE RELEASE
The Outlet Collection at Riverwalk
The Howard Hughes Corporation
The Howard Hughes Corporation® Announces Tenants for The Outlet Collection at Riverwalk
Last Call Studio by Neiman Marcus Anchors a Line-Up of Fashion, Culinary and Entertainment at Nation's First Downtown Outlet Center
DALLAS/NEW ORLEANS (October 7, 2013) - The Howard Hughes Corporation (NYSE: HHC) announced today its all-star lineup of tenants for the redevelopment of the Riverwalk Marketplace into The Outlet Collection at Riverwalk. Along with being the nation's first outlet center located in a downtown setting, the project will be the first location in New Orleans, Louisiana and the Gulf region for many of the Riverwalk's retailers.
"These exceptional retailers will create an unmatched shopping experience at The Outlet Collection at Riverwalk," said Mark Bulmash, Senior Vice President of Development for The Howard Hughes Corporation. "Our team has been working side-by-side with the City of New Orleans to ensure that we exceed the expectations of local shoppers while continuing to drive tourists and revenue to the Downtown area."
Virtually all of the space at The Outlet Collection at Riverwalk is committed with 94 percent of leases executed by well-known national outlet retailers along with popular local retail, dining and entertainment offerings. New-to-the-market retailers and restaurants signed-on to date include: Last Call Studio by Neiman Marcus, Coach Men's Factory Store, Tommy Bahama, Toby Keith's I Love This Bar & Grill, Hartstrings Childrenswear, U.S. Polo Assn. Outlet, It'Sugar, Sunglass Warehouse, Red Mango and New Balance Factory Stores.
Additional Riverwalk tenants include notable brands such as Coach Factory Store, Café du Monde, Kenneth Cole Company Store, LOFT Outlet, Chico's Outlet, Clarks/Bostonian Outlet, Gap Outlet, Guess Factory Store, Kay Jewelers, Raising Cane's, Sunglass Hut Outlet and The Fudgery. The full list of tenants can be viewed at www.outletcollectionatriverwalk.com.
"We are very excited to open a Neiman Marcus Last Call Studio with The Howard Hughes Corporation at The Outlet Collection at Riverwalk in New Orleans," said Wayne Hussey, Senior Vice President of Store Development for the Neiman Marcus Group. "This will be the first Neiman Marcus store in Louisiana and our first venture with Howard Hughes. We already have a strong customer base in Louisiana and are pleased to become part of the continued resurgence in the great City of New Orleans."
"The Outlet Collection at Riverwalk is an exciting addition to District C and the entire city," said Councilmember Kristin Gisleson Palmer. "The caliber of retailers shows that downtown New Orleans has national appeal as a place to live, work and do business. The continuation of the Canal Street ferry insures that Algiers residents will have convenient access to these quality retailers."
A market that has long been under-served in the retail sector, New Orleans has approximately 30% less square feet of retail per capita than the national average. City leadership has made it a priority to bring more retail to New Orleans.
"We are in the midst of a retail boom in New Orleans, and the redevelopment of the Riverwalk is a welcome addition," said Mayor Mitch Landrieu. "We're seeing a lot of projects come to fruition that will ultimately make the city a better place to live and visit. This project will transform a site that's been underused, bring much needed retail downtown and create new jobs and local tax dollars. These nationally recognized retailers will increase New Orleans' attraction as a premier shopping destination."
The redevelopment will expand its footprint by about 50,000 square feet to an approximate total of 250,000 square feet. Interior demolition and other construction activities are underway. The property plans to reopen in late spring/early summer of 2014.
About The Howard Hughes
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 16 states from New York to Hawaii. The Howard Hughes Corporation is traded on the New York Stock Exchange as HHC and is headquartered in Dallas, TX. For additional information about HHC, visit www.howardhughes.com.
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," "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.