Howard Hughes Names Kate Kaminski President of Arizona Region to Lead Teravalis

PHOENIX — Howard Hughes Communities, the real estate platform of Howard Hughes Holdings Inc. (NYSE: HHH), announced Oct. 1 the promotion of Kate Kaminski to President of the Arizona Region. Kaminski succeeds Charley Freericks in a planned leadership transition and will oversee the strategy, investment, development and operations of Teravalis, the company's 37,000-acre master planned community in Buckeye, Arizona. Freericks will continue as senior advisor, focusing on major long-range initiatives and opportunities.

Kate Kaminski Moves From Chief Operating Officer to Regional President

Kaminski joined Howard Hughes in 2024 as Chief Operating Officer of the Arizona Region. Working alongside Freericks, she helped build a team with technical capabilities and local expertise, the company said. She also advanced the commercial strategy for Teravalis by strengthening relationships across the Greater Phoenix business community.

Kaminski recently was appointed to the Greater Phoenix Economic Council (GPEC) Board of Directors, which brings her together with public- and private-sector leaders focused on attracting business investment and supporting regional economic growth.

Before joining Howard Hughes, Kaminski spent nearly 20 years with Walton Global, ultimately serving as Global Chief Operating Officer. She has more than two decades of executive experience spanning real estate investment, land development, corporate strategy, capital markets and operations.

A Planned Succession at Howard Hughes Communities

Howard Hughes Chief Executive Officer David O'Reilly said the transition had been envisioned when the company brought Freericks and Kaminski on board.

"When we brought Charley and Kate to Howard Hughes Communities a few years ago, we had this transition in mind," O'Reilly said. "Charley has helped establish a strong foundation for Teravalis, and Kate has earned the opportunity to build on it. She has advanced our commercial strategy, built a team with real depth, and established meaningful relationships across Greater Phoenix. Seeing the plan we envisioned come together is personally rewarding, and the credit belongs to both of them. I'm grateful for Charley's leadership and continued involvement, and I have tremendous confidence in Kate."

Freericks, now Senior Advisor for Howard Hughes Communities, said the two had been working toward the handoff from the start. "Kate understands the business, cares about this team, and brings the perspective and energy to lead its next stage of growth," Freericks said. "I look forward to supporting her and continuing to contribute to Teravalis."

Teravalis Enters Its Residential Phase

The leadership change comes as Teravalis builds on the opening of Floreo, its first residential village, and advances plans for employment centers, commercial development, education, services and amenities. Floreo opened for home sales in late 2025 and is already welcoming residents. The village will ultimately include approximately 8,500 homes, with seven homebuilders currently active.

Kaminski will lead the Arizona team's work across capital investment, land development and sales, infrastructure, and government and community partnerships.

"Teravalis represents an extraordinary opportunity to build something the Phoenix MSA has never had at scale," Kaminski said. "As we welcome our first residents, our responsibility is to deliver on the promise of this community. That means planning for the homes, employment, schools, services, and gathering places that support everyday life. Charley and I have worked closely to build the team and foundation for Teravalis, and I'm grateful for his partnership and continued support, and I'm proud to lead this team as we bring that vision to life."

Teravalis is situated between the White Tank and Belmont Mountain ranges in Buckeye, which the company describes as one of the nation's fastest-growing cities. The community is entitled for up to 113,000 homes, approximately 340,000 residents and up to 62 million square feet of planned commercial development.

Company Financial Context

Howard Hughes reported $112.3 million in Master Planned Communities revenue in the first quarter of 2026, up 33% year over year. MPC earnings before taxes rose to $84.4 million, also a 33% increase, driven primarily by residential land sales at Bridgeland. In the second quarter, MPC earnings before taxes reached $134.7 million, up 32% year over year, driven by residential and commercial land sales. Much of that performance has come from established communities such as Bridgeland rather than from Teravalis.

The company's operating assets also grew in the first quarter, with revenue rising to $119.2 million from $114.0 million and net operating income increasing to $73.1 million from $71.6 million. Multifamily net operating income rose 3%, while office net operating income rose 2%. Howard Hughes Holdings also completed its approximately $2.1 billion cash acquisition of Vantage Group Holdings.

Outlook for Teravalis and the Phoenix West Valley

With Floreo's seven active homebuilders, Teravalis has moved from planning toward market absorption. The community's 62-million-square-foot commercial entitlement represents long-term capacity rather than near-term absorption, and the sequencing of land sales, infrastructure, employment centers and amenities will shape how the project develops. Kaminski's responsibilities span those areas, along with the government and community partnerships that accompany infrastructure delivery.

Howard Hughes Communities develops, owns and operates master planned communities and mixed-use developments including The Woodlands, Bridgeland and The Woodlands Hills in Greater Houston; Summerlin in Las Vegas; Teravalis in Greater Phoenix; Ward Village in Honolulu; and Merriweather District in Columbia, Maryland.

Sources

Howard Hughes Communities, "Howard Hughes Communities Names Kate Kaminski President of Arizona Region": https://communities.howardhughes.com/press-releases/howard-hughes-communities-names-kate-kaminski-president-of-arizona-region/