Rouse Co. buys Howard Hughes Corp. (1996)
Twenty years after Howard Hughes died, his heirs sold the Howard Hughes Corp. to Maryland-based Rouse Co. for $520 million. The deal put Summerlin, named for Hughes' grandmother, under new ownership for the first time since its founding.
Rouse continued building Summerlin's early neighborhoods.
The sale set up the ownership chain that led to General Growth's 2004 acquisition and the eventual 2010 spin-off.
Summerlin has cycled through owners; the current developer is again betting on growth after deciding not to sell.
