Howard Hughes Communities is the real estate development and community-building platform of Howard Hughes Holdings (NYSE: HHH), a publicly traded holding company headquartered in The Woodlands, Texas. The company was formed in 2010 as a spin-off from General Growth Properties during its bankruptcy reorganization. Howard Hughes Communities develops, owns, and manages master planned communities, mixed-use developments, and operating assets spanning approximately 101,000 acres across five states, where more than 387,000 residents currently live. The company's portfolio includes seven master planned communities, along with office, retail, and multifamily properties totaling over 25 million square feet of commercial space. The company's investment strategy centers on long-duration land development in high-growth markets, with a focus on creating master planned communities that generate value through residential and commercial land sales, leasing income-producing assets, and selective vertical development including condominium towers. Howard Hughes Communities operates across Texas (The Woodlands, Bridgeland, The Woodlands Hills), Nevada (Summerlin), Arizona (Teravalis), Hawaii (Ward Village), and Maryland (Columbia/Merriweather District). The company's Texas communities represent its largest concentration, with The Woodlands and Bridgeland both ranking among the nation's top-selling master planned communities. In Arizona, the 37,000-acre Teravalis project, acquired for $600 million in 2021, represents one of the company's most ambitious long-term developments. Geographic exposure is concentrated in Sun Belt and high-growth markets, with Texas representing the largest portion of the portfolio. Major ownership changes occurred in May 2025 when Pershing Square Capital Management increased its stake to 47% through a $900 million investment, with Bill Ackman rejoining as Executive Chairman. In 2024, the company separated its entertainment-related assets into Seaport Entertainment Group, which now trades independently. The company employs approximately 608 people and reported $1.75 billion in revenue for 2024.