Howard Hughes Corporation, Investor Presentation Nov 19, 2020, slide 3
See additional slides below.
72 Disingenuous Signs from Howard Hughes Corporation Are Intended To Protect The Corporation’s Quality of Life
What Howard Hughes Corp Doesn’t Want You To See
Original Investor Slides Boast HHC’s “Fortress-Like Business + Investment Opportunity”
Many of us were stunned to see 72 large blue unsightly anti-incorporation signs sprout throughout The Woodlands immediately after incorporation was placed on the ballot by The Woodlands Township Board in August, 2021. These signs belong to Howard Hughes Corporation (HHC).
Like any corporation, HHC is in business to make money for their investors. In their May 2021 Investor Presentation, HHC tout their “unique business model (which) creates sustainable competitive advantages…Ownership and monopoly-like control of small cities allows HHC to both create demand and control supply of commercial amenities.” If The Woodlands becomes a city, HHC loses their “monopoly-like control”.
With The Woodlands largely built out, HHC’s stated intention is to use the remaining 720 acres available for commercial development for high-density projects. Specifically, within the next 10 years HHC proposes developing 1000+ multifamily units, over one million square feet of office and retail space plus more hotel rooms. HHC also may be able to use failed village shopping sites (like Grogan’s Mill) for additional high-density projects. Project like these will negatively impact the community with increased traffic and demand on services (like law enforcement, schools, and hospitals). Despite their disingenuous pledge to “preserve our quality of life”, HHC’s future plans will negatively impact the three top concerns that residents have about our community (overdevelopment, clear-cutting, and traffic).
Because The Woodlands is not a city, the community has virtually no control over how land is divided, zoned and permitted, which is done for us by the City of Houston’s Planning Commission under Houston’s Extra Territorial Jurisdiction rights, or by Montgomery County. Incorporation would transfer authority over the development to The City of The Woodlands, enabling the residents to control all future development.
HHC boasts to their shareholders about their “unique level of control” and “extensive influence” over “Consent Rights (approval control over changes to property use)” and “Community Relationships (connections to local groups and civil staff)”. If The Woodlands incorporates into a city, HHC loses their substantial “control” and “influence”.
The Howard Hughes Corporation is the latest of a series of developers who come into The Woodlands, make money, and then sell to the next developer. We cannot, as HHC claim on their unsightly signs, protect our quality of life in The Woodlands by keeping things as they are. The only way to protect ourselves against developers like HHC is to incorporate. VOTE FOR INCORPORATION!
Additional HHC Investor Presentations:
The Howard Hughes Corporation 2021 Q2 - Results - Earnings Call Presentation, Tue, Aug. 10
The Howard Hughes Corporation 2020 Q2 - Results - Earnings Call Presentation, Wed, Aug. 05, 2020
To download investor presentations yourself, visit https://seekingalpha.com/ and search for Howard Hughes Corporation.