Bill Ackman Tightens Grip on Downtown Columbia

Downtown Columbia just got even cozier with Wall Street. Billionaire investor Bill Ackman, through his firm Pershing Square, has upped his stake in Howard Hughes Holdings — the Texas-based developer that owns much of downtown Columbia — from 38% to 46.9%. That’s a $900 million move that gives Ackman more sway and a new title: executive chairman of the board.

Howard Hughes, which oversees several planned communities including Columbia, says nothing’s changing for now. But with Ackman aiming to turn the company into a “modern-day Berkshire Hathaway,” locals are watching closely.

Columbia, founded in 1967 as a bold vision for inclusive suburban living, is a central piece in a long-term redevelopment plan — think new library, housing, and commercial hubs. Whether Ackman’s bigger role means a faster, flashier Columbia or business as usual remains to be seen.

What’s clear? One of the richest men on the planet now has even more influence over one of Maryland’s most carefully curated towns.