Next Phase Begins in “forWARD” Vision for Ward Village
The
Howard Hughes Corporation (NYSE: HHC) today announced plans to
renovate the IBM building, a well-known office building located along
Ala Moana Boulevard in the heart of Kaka‘ako. As the next step in
realizing its vision transforming Ward Centers into Ward
Village, a vibrant urban master planned community, The Howard Hughes
Corporation is making a substantial investment in the renovation of the
building.
(Photo: Business Wire)
“We look forward to the IBM building becoming an integral part of the
vision for Ward Village,” said Nick Vanderboom, Senior Vice President of
Development for The Howard Hughes Corporation. “It is rewarding to bring
new purpose to this iconic structure.”
Originally designed by famed architect Vladimir Ossipoff, the IBM
building recently marked its 50th anniversary. Through the
redevelopment, the majority of the space will continue to serve as an
office building while a portion will serve as the future information and
sales center for Ward Village. Planned for completion in the fall of
2013, the update will create dynamic open space on the ground floor by
opening up the walls surrounding the ground level. A section of the
floor will be dedicated to telling the story of the land, while another
will showcase the vision for the project. The front of the building will
also be enhanced with landscaping, water features and other design
elements in keeping with the future character of Ward Village.
Reflecting the Ward Village commitment to honoring the history of the
land, the concrete honeycomb exterior grille – the brise-soleil
that makes the IBM building a distinct architectural structure - will be
retained as part of the rehabilitation.
“As best I can recall, Val Ossipoff is quoted as saying ‘the grille is a
punched screen and as such recalls the punch cards universally used in
computing.’ This seemed an appropriate reason for relating IBM, a
computer company, to its Honolulu home. Here is a unique grille, very
permanent being made of uncoated concrete which provides shade and yet
allows views out to the ocean and mountains and allows for a naturally
lit interior,” said Sid Snyder, a longtime friend and business partner
of Val Ossipoff.
“The building’s classic grille is being preserved and the unique
character is respected. I appreciate that and understand there is a new
purpose for this building being preserved,” added Snyder.
The Howard Hughes Corporation will invest more than $20 million in the
IBM building renovation. The renovation is being directed by the
internationally acclaimed design firm Woods Bagot along with the local
firm of Ferraro Choi & Associates as the architect of record. The Howard
Hughes Corporation is also hiring local general contractors, Jay
Kadowaki, Inc. and Albert C. Kobayashi, Inc., respectively known for
quality interiors and expertise in large-scale projects. Nate Smith, a
local project manager who has a history of managing residential,
commercial and institutional projects, including the renovation of
Ossipoff’s Thurston Chapel at Punahou School, has also been retained as
a consultant to assist with the coordination of the project.”
The Howard Hughes Corporation announced its “forWARD” vision for Ward
Village in October 2012, revealing plans to create a vibrant
neighborhood offering unique retail experiences, exceptional residences
and affordable housing set among dynamic public open spaces and
pedestrian-friendly streets. Ward Village will incorporate principles of
sustainability and cultural respect that honor the rich history of the
land. The project is planned to be built out over the next decade. When
complete, Ward Village will double its retail, dining and entertainment
space, providing a compelling mix of local neighborhood shops,
restaurants and national retailers to serve locals and visitors alike.
In preparation for the renovation, The Howard Hughes Corporation has
been working to provide assistance to tenants affected by the project
who are moving to other locations within Ward Centers.
For more information please visit: www.avisionforward.com.
About The Howard Hughes Corporation
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 18 states from New York
to Hawai‘i. 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.
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