General Growth Nabs Woodlands CEO

THE WOODLANDS, TX-General Growth Properties Inc. has chosen the president and CEO of the Woodlands Development Co. to head up its new community development program. Thomas D’Alesandro IV will take on the role of senior vice president with the Chicago-based REIT on May 2.The Woodlands Development Co. is a limited partnership of General Growth and Morgan Stanley. The role of president and CEO at the Woodlands Development Co. is being split between two Woodlands veterans: Tim Welbes and Alex Sutton. They have been promoted to co-presidents of the company and will immediately assume D’Alesandro’s responsibilities, D’Alesandro tells GlobeSt.com.”Alex and Tim have worked together for the past 10 years and were instrumental in helping me re-calibrate the company,” D’Alesandro says. It was just two years ago that a nationwide search ended with D’Alesandro being brought in to head up the Woodlands Development Co. “These guys have been my right hand, and the investors are comfortable that they can take it from here,” he adds.In his new role, D’Alesandro will be responsible for the community development portfolio, which includes Columbia, MD; Summerlin in Las Vegas; and The Bridgelands in Houston. He will also be involved in evaluating mixed-use redevelopment at select General Growth malls. General Growth inherited the community development portfolio when it acquired the Rouse Co. “I couldn’t be more excited because I think it’s a perfect fit,” D’Alesandro says. He will be based out of the Bridgelands, but may move to Chicago in the future. “Right now, the launch of the Bridgelands is front and center,” he explains.The Woodlands Development Co.’s strategic plan will not change as a result of the new leadership, D’Alesandro says. The company will continue to focus on enhancing the Woodlands Town Center and the surrounding villages, and Welbes and Sutton will report to an executive committee comprised of General Growth and Morgan Stanley executives.Welbes has been with the Woodlands Development Co. for more than 20 years, primarily in charge of the residential portion of the 27,000-acre community. Sutton has been with the company for nearly a dozen years and has focused on development. Both Welbes and Sutton are long-time residents of the Woodlands.