Howard Hughes Corporation is undergoing changes in office space amid cuts to nearly two-thirds of its staff, according to a recent SEC filing. The Woodlands-based developer announced it would be consolidating its regional offices to the company-owned The Woodland Towers at The Waterway.
In October 2019, Howard Hughes Corp (NYSE: HHC) announced it would move its corporate headquarters from Dallas to The Woodlands and announced its acquisition of The Woodlands Towers in December 2019. The Woodland Towers consists of two sister towers – a 32-story building at 1201 Lake Robbins and a 31-story building at 9950 Woodloch Forest – with HHC occupying space on the 12th and 13th floors of the latter.
HHC will market the rest of the building as a multi-tenant office space offering amenities such as an outdoor garden deck on the 12th floor, a 33,000-square-foot rooftop terrace, a lobby cafe, a conference center with breakout and training rooms, a 10-story parking garage and a two-story fitness center.
Over the past year, HHC said goodbye to three key members of its Woodlands leadership team. Paul Layne (former HHC CEO), Alex Sutton (co-president of The Woodlands Development Co.) and Robert Heineman (former vice president of planning and design) all retired between September 2020 to March 2021, following several years of service to the company.
According to SEC filings, the company also cut nearly two-thirds of its employees last year, decreasing from 1,500 to 600 employees between December 2019 and December 2020. The change corresponded with the company’s shift in focus to master-planned communities, including The Woodlands, Bridgeland in Cypress and The Woodland Hills in Conroe and Willis.