It took its name from the original Howard Hughes Corporation, which had developed the planned community of Summerlin, Nevada, and later became a subsidiary of GGP.

[9][10] Ultimately, the company announced a "transformation plan", under which it would focus on its master-planned communities and sell off $2 billion of non-core assets.

[13] The company acquired its sixth master-planned community in 2021, purchasing the 37,000-acre Douglas Ranch development in the Phoenix area (later renamed to Teravalis) for $600 million.

[19] The company has six master planned communities, with a total of approximately 35,000 acres (14,000 ha) of land remaining to be developed or sold.

[19] This category comprises 73 revenue-generating assets as of 2023, including retail, office, and multi-family residential properties, most of which are located in the company's six master planned communities.