Quote:
Originally Posted by photoLith
^
The Woodlands is mostly in Montgomerry County and taxes there are much lower than in Harris. Also, the woodlands is like a brand and it's pretty much one large master planned community. Katy and Sugarland are just amorphous blobs of suburban protoplasm that just grows uncontrollably. The Woodlands on the other hand is mostly owned by one developer, The Woodlands Corporation; which was sold in 1997 to some other huge development corporation.
|
^^^^^^^
The Woodlands is actually a wholly owned subsidiary of a $3.0 billion dollar development company headquartered in Dallas called The Howard Hughes Corporation.
The Howard Hughes Corporation was spun off from General Growth Properties after it went through a reorganization in late 2010; then the newly formed The Howard Hughes Corporation selected Dallas as its headquarters city in February of 2011 as its base of operations.
Dallas-based The Howard Hughes Corporation took control of The Woodlands around mid-year 2011:
-----------------------------------------------------------
Howard Hughes buys up The Woodlands
Dallas Business Journal by Jennifer Dawson, Reporter
Date: Wednesday, June 29, 2011, 11:59am CDT
The Howard Hughes Corp. — owner of the Bridgeland master-planned community — has agreed to buy out the remaining interest it did not already own in The Woodlands for $117.5 million.
Dallas-based Howard Hughes (NYSE: HHC) said Wednesday it has a definitive agreement to acquire Morgan Stanley Real Estate Investing’s 47.5 percent interest in the 28,000-acre master-planned community north of Houston.
The deal consists of a cash payment of $20 million at closing and a $97.5 million non-interest bearing promissory note due December 1, 2011.
Howard Hughes, and its predecessor companies, have owned a majority interest in The Woodlands since 2004.
Howard Hughes will own all unsold property in The Woodlands, which as of March 31, amounted to 1,372 acres of unsold residential land, representing 4,532 lots, and 936 acres of unsold land for commercial use.
The Woodlands also has full or part ownership in 434,000 square feet of office space, 203,000 square feet of retail and service space, 865 rental apartment units. It also owns a 440-room conference center facility and 36-hole country club.
The acquisition is anticipated to close July 1, 2011 at which time The Woodlands will become a wholly owned subsidiary of Howard Hughes.
Howard Hughes Corp. was spun out of Chicago-based General Growth Properties Inc., after GGP emerged from bankruptcy protection in late 2010.
http://www.bizjournals.com/dallas/ne...woodlands.html
.