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Project Blizzard Schwab presentationProject Blizzard February 15, 2016 Project Blizzard Circle T Ranch Aerial February 15, 2016 Note: Informational Only. Not Part of PD Ordinance. Project Overview February 15, 2016 HOWARD HUGHES CORPORATION Limited Partner •Emerged as a public company in a spin-off from GGP five years ago •Based in Dallas, TX with nearly 1,000 employees and market cap of approximately $5 billion •Develop, own and manage premier commercial, residential and mixed use projects across the U.S. •Signature projects include The Woodlands in Houston, Summerlin in Las Vegas, the Seaport District in Lower Manhattan and Ward Village in Honolulu •Mission is to create timeless places and extraordinary experiences that inspire people while driving sustainable, long term growth and value for our shareholders HILLWOOD PROPERTIES General Partner •Privately owned and founded in 1988 by Ross Perot, Jr. •Operations worldwide; headquartered in North Texas •Acquired Circle T property in 1993 •Long and active relationship with the Town of Westlake •56.7 million square feet developed; 41.7 million square feet currently owned and under management •Signature public-private partnership projects include: AllianceTexas, American Airlines Center, U.S. Air Force Memorial DEVELOPMENT TEAM CONSULTANT TEAM Gensler Corgan Associates Peloton Land Solutions Burns & McDonnell Circle T Massing Plan February 15, 2016 Note: Informational Only. Not Part of PD Ordinance. •Residential 275 Units •Hotel / Hospitality +/-200 Rooms/150,000 SF •Class A Mid-rise Office +/-780,000 SF •Mixed Use/ Retail/ Office/ Entertainment +/-430,000 SF Project Overview February 15, 2016 DISTRICT BREAKDOWN -154 +/-Acres CORPORATE OFFICE CAMPUS DEVELOPMENT –81 +/-Acres (PD 3-5B) 1,160,000 SF MIXED-USE DEVELOPMENT –53 +/-Acres (PD 3-5A) Non-Developable Property –20 +/-Acres (PD 3-5A) Creek & Lake Area Inspirational Images February 15, 2016 Note: Informational Only. Not Part of PD Ordinance. Inspirational Images February 15, 2016 Note: Informational Only. Not Part of PD Ordinance. Inspirational Images February 15, 2016 Note: Informational Only. Not Part of PD Ordinance. Inspirational Images February 15, 2016 Note: Informational Only. Not Part of PD Ordinance. Inspirational Images February 15, 2016 Note: Informational Only. Not Part of PD Ordinance. Inspirational Images February 15, 2016 Note: Informational Only. Not Part of PD Ordinance. Inspirational Images February 15, 2016 Note: Informational Only. Not Part of PD Ordinance. Inspirational Images February 15, 2016 Note: Informational Only. Not Part of PD Ordinance. Project Signage February 15, 2016 Note: Informational Only. Not Part of PD Ordinance. Project Signage February 15, 2016 Note: Informational Only. Not Part of PD Ordinance. Project Signage February 15, 2016 Note: Informational Only. Not Part of PD Ordinance. Project Signage February 15, 2016 Note: Informational Only. Not Part of PD Ordinance. Compatibility with the Town of Westlake’s adopted Comprehensive Plan •Pushes more intense development to the north, abutting State Highways 114 and 170 •Development will be in an area identified for Regional Commercial •Development is moved to a Vista Shade Zone north of the hill and away from the residential core of Westlake •Because of the transfer of “density” the overall “density” across PD 3 remains constant •Offers a mix of uses including retail, commercial, office, hotel and potential entertainment •Due to location allows more verticality, which is needed to meet the Town’s desire for additional commercial development •Includes expanded residential opportunities •Recruiting another major Financial Cluster resident to the Town Compatibility February 15, 2016 Note: Informational Only. Not Part of PD Ordinance. Site is in a Vista Shade Zone as Identified in the Comprehensive Plan Westlake Comprehensive Plan Conformance February 15, 2016 Note: Informational Only. Not Part of PD Ordinance. Site is located along SH 170 and SH 114 In an area identified for Regional Commercial and Higher Density, allowing for more verticality. Westlake Comprehensive Plan Conformance February 15, 2016 Note: Informational Only. Not Part of PD Ordinance. Viewshed Plan View February 15, 2016 Viewshed Cross Sections February 15, 2016 Note: Informational Only. Not Part of PD Ordinance. Proposed Zoning February 15, 2016 Note: Informational Only. Not Part of PD Ordinance. Proposed Circle T Ranch Zoning February 15, 2016 Note: Informational Only. Not Part of PD Ordinance. Thank You