Rouse Company
| Commercial Real Estate Development | |
| Industry | Retail and Mixed-Use Centers, Master Planned Communities ("New Towns") |
| Successor | General Growth Properties Inc., The Howard Hughes Corporation (2010) |
| Defunct | 2004 |
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Key people
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James Rouse, Melvin J. Berman, Hunter Moss, Churchill Gibson Carey, Charles "Chili" Jenkins. |
| Subsidiaries | The American City Corporation, Howard Research and Development, Community Research and Development |
The Rouse Company, founded by Hunter Moss and James W. Rouse in 1939, was a publicly held shopping mall and community developer from 1956 until 2004, when General Growth Properties Inc. purchased the company.
The Moss-Rouse Company was founded as a FHA mortgage company with a loan from Hunter Moss's sister. Rouse leveraged his knowledge as loan guarantee specialist at the Federal Housing Administration to establish a Baltimore-based mortgage company specializing in FHA backed loans. Moss-Rouse hired a WWII Navy friend, Churchill G. Carey from Connecticut General, who in turn provided capital for future projects. Carey would hold positions ranging from president to CEO of the mortgage company subsidiary. In 1952-1953 the company built one of the first modern architecture office buildings on Saratoga Street in Baltimore while also dropping its commercial lending business line. Jim Rouse hired his brother, Willard G. Rouse, II, in 1952 and partner Hunter Moss phased out of operations selling his shares of the company while remaining temporarily on the board of directors. The firm was renamed the James W. Rouse & Company, Inc. with Rouse owning 50% equity, His brother Willard 10%, and 40% to company officers.
The James W. Rouse Company built some of the first enclosed shopping malls, and it pioneered the development of festival marketplaces, such as Jacksonville Landing in Jacksonville, Faneuil Hall in Boston, South Street Seaport in New York City, Harborplace in Baltimore, and Bayside Marketplace in Miami. They also developed The Shops at National Place in downtown Washington, D.C. that opened in 1984-85.
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