The Howard Hughes Corp. has named Kristi Smith president of the firm's Maryland region, putting a new face in charge of the company's $5B overhaul of Downtown Columbia.
:no_upscale():quality(75))
Smith's background includes 20 years of experience in commercial real estate development and investment in the Washington, D.C., metro area. Previously, she worked at JBG Smith as executive vice president in charge of development. Her portfolio at the REIT included oversight of JBG Smith's multifamily and commercial projects, including Amazon's HQ2 project in Arlington, Virginia.
"I am thrilled to join Howard Hughes at this significant point in the trajectory of Downtown Columbia, as the community is uniquely positioned to meet today's renewed demand for a walkable, high-quality work environment with short commutes, in a location continually ranked as one of the best places to live in the country," Smith said in a statement.
Smith takes over her role at Howard Hughes from Regional President Greg Fitchitt, who held the position since 2018. He will now serve as Howard Hughes' executive vice president of government affairs and business development.
Prominent developer Jim Rouse started building Columbia, one of the nation's first planned communities, in 1967. Rouse's firm acquired Howard Hughes in the 1990s, which was eventually spun off into its own REIT. Howard Hughes envisions redeveloping Rouse's "city in a garden" based on the 2010 Downtown Columbia Plan.
So far, the company has delivered 3M SF of flexible office space, 2,749 residential units and more than 60 acres of outdoor recreational areas, according to the project's website. The 30-year redevelopment plan at complete build calls for 4.3M SF of office space, 1.25M SF of street retail and 6,250 residential units.
The overhaul already includes the creation of the mixed-use Merriweather District around the popular concert venue Merriweather Post Pavilion. Additionally, the company received approval to move ahead with the development of Lakefront North, which includes 700 apartments, additional retail and below-grade parking.
