General Growth Properties bankruptcy (2009)
Mall operator General Growth Properties, which bought Summerlin's developer Rouse Co. in 2004 for $12.6 billion, filed for bankruptcy in April 2009. Reuters called it the largest real estate failure in US history. Construction halted on what became Downtown Summerlin, leaving a steel skeleton off the 215 Beltway.
General Growth emerged from bankruptcy in 2010.
It spun off Howard Hughes Corp. as a separate company controlling Summerlin, restoring an independent developer.
Shows how Summerlin's ownership has shifted through corporate failures; today's Howard Hughes Holdings is a product of that 2010 spin-off.
