Howard Hughes Holdings Announces Victory for 250 Water Street Project in Lower Manhattan
NEW YORK, May 21, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE: HHH) today announced a victorious decision by the New York State Court of Appeals for its planned 250 Water Street project in Lower Manhattan, clearing the way for the Seaport development to proceed.
- NEW YORK, May 21, 2024 (GLOBE NEWSWIRE) -- Howard Hughes Holdings Inc. (NYSE: HHH) today announced a victorious decision by the New York State Court of Appeals for its planned 250 Water Street project in Lower Manhattan, clearing the way for the Seaport development to proceed.
- Today’s court decision upheld the Appellate Court’s ruling in favor of the project, and together with the State’s extension of the recent 421-a tax exemption, has cleared all existing impediments to construction and unlocked tremendous value for Howard Hughes shareholders.
- “For too long, the lot at 250 Water Street has been an underutilized part of the Seaport,” said David O’Reilly, Chief Executive Officer of Howard Hughes.
- The 2021 approval of 250 Water Street capped a comprehensive public review process.