Jim Carman Exits Howard Hughes Communities, Market briefs

In The Woodlands, Texas, Jim Carman will step down from his role as President of the Texas Region for Howard Hughes Communities at the end of 2026 as part of an organizational realignment, parent company Howard Hughes Holdings reported.

Howard Hughes Communities, the real estate platform of Howard Hughes Holdings, is the developer of The Woodlands, Bridgeland, and The Woodlands Hills in the Houston region. Carman will serve in an advisory role with Howard Hughes Communities beginning Jan. 1, 2027.

Since Carman joined the company in 2012, Bridgeland grew from approximately 6,000 residents to more than 30,000 and was named the 2024 Master Planned Community of the Year by the National Association of Home Builders. During his tenure, Carman oversaw more than $3 billion in development, including commercial, hospitality, medical, residential, and community amenity projects. He has also overseen more than $1.1 billion in land sales across the company’s portfolio of Texas communities.

Drew Davis, Chief Operating Officer of Howard Hughes Communities, will continue to oversee The Woodlands, Bridgeland, and The Woodlands Hills.

“Jim’s contributions can be seen across The Woodlands, Bridgeland, and The Woodlands Hills, in the places he helped develop and the team he helped build,” Davis said when the deal was released. “We are grateful for his nearly 15 years of service and his help preserving that knowledge through his advisory role. I will continue to work directly with our Houston team and community partners to advance the work in progress across all three communities.”

Landmark projects completed or advanced under his leadership include Hughes Landing, a 66-acre multi-use development on Lake Woodlands; Creekside Park Village Center; Bridgeland Central, the urban core of Bridgeland; the revitalization of Grogan’s Mill Village Center; and the Ritz-Carlton Residences, The Woodlands. In 2019, he oversaw the $565 million purchase of The Woodlands Towers at The Waterway.

Carman’s experience includes multi-use and commercial projects such as The Ritz-Carlton Grand Cayman, The Hughes Center in Las Vegas, Nev., and the Adrienne Arsht Center for the Performing Arts in Miami.

Carman serves as Chairman of the Board of the Montgomery County Food Bank and as a member of the Board of Directors of the Greater Houston Partnership. He previously served as Chairman of The Woodlands Area Chamber of Commerce and held leadership roles with several local civic and nonprofit organizations.

“It has been a privilege to help shape The Woodlands, Bridgeland, and The Woodlands Hills over nearly 15 years,” said Carman. “I am deeply grateful to our team members, builders, business partners, and residents for everything we have accomplished together. These are communities where people are building their lives, and I am proud to have played a part in that. Drew and the team will carry this work forward, and I look forward to sharing my experience with them in an advisory capacity.”

Howard Hughes Holdings has been transitioning from a real estate development company to a diversified holding company.

In a major step toward that goal, Howard Hughes Holdings purchased Vantage, a specialty insurance and reinsurance company, in a $2.1 billion transaction in June.

In a recent shareholder meeting, HHH reported that Howard Hughes Communities is moving to an “asset light” real estate model where it will exit non-core assets and sell stakes in operating assets and large-scale planned community land banks to institutional partners. Deals would be structured where HHC would own minority stakes in the developments and earn fees for developing and managing the assets.

Howard Hughes Communities develops, owns, and operates premier large-scale large-scale planned communities and multi-use developments across the U.S. The company’s holdings outside of Houston include Summerlin in Las Vegas; Teravalis in Greater Phoenix; Ward Village in Honolulu; and Merriweather District in Columbia, Md.