Friendswood Development Company

Friendswood Development Company
Company typeSubsidiary of Lennar
IndustryReal estate
Founded1962, as a subsidiary of Humble Oil
HeadquartersHouston, Texas
Area served
Greater Houston
Key people
John Hammond, President
OwnerLennar
Websitefriendswooddevelopment.com

Friendswood Development Company is a real estate development company operating in Greater Houston. The company is a subsidiary of Lennar.

The company is best known for developing Kingwood, a 15,000-acre master-planned community northeast of Houston with more than 20,000 homes, developed over a 40-year period.[1] The company also developed the Clear Lake City area near NASA in 1962.[2]

History timeline

  • The company was founded in 1962 as a subsidiary of Humble Oil, now ExxonMobil.
  • In 1963, the company established Clear Lake City, its first project.[3]
  • In 1970, The company developed Kingwood master planned community.[4]
  • In 1991, the company broke ground on the first new office building in Houston in 5 years.[5]
  • In June 1995, Exxon put the company up for sale.[6]
  • In December 1995, Lennar acquired the company for $110 million.[7]
  • In 2014, the company expanded several of its communities.[8]
  • In 2015, the company announced 3 new communities in northeast Houston.[1]
  • In 2016, the company opened Knoll Park, its first development in urban Houston.[9][10]
  • In 2017, the company launched its third residential development in Houston.[11]

References

  1. ^ a b Takahashi, Paul (October 30, 2015). "Friendswood Development strengthens foothold in northeast Houston". American City Business Journals.
  2. ^ "Houston's Premier Residential Land Developer | Friendswood Development Company".
  3. ^ DAVIS, MICHAEL (October 28, 2001). "Oil field put Exxon and Houston on map". Houston Chronicle.
  4. ^ "Kingwood | Friendswood Development Company".
  5. ^ Stuart, Lettice (February 20, 1991). "New Office Tower Project Is Houston's First in 5 Years". The New York Times.
  6. ^ "Exit From Industry". Chicago Tribune. June 4, 1995.
  7. ^ "LENNAR TO BUY EXXON'S REAL ESTATE UNIT". The New York Times. Reuters. December 8, 1995.
  8. ^ "Friendswood Development in expansion mode". Houston Chronicle. March 28, 2014.
  9. ^ Takahashi, Paul (September 16, 2016). "Suburban developer makes 'first real foray' into urban Houston". American City Business Journals.
  10. ^ Feser, Katherine (September 9, 2016). "Friendswood Development expands urban offerings". Houston Chronicle.
  11. ^ Takahashi, Paul (June 6, 2017). "Houston developer launches new urban community in Garden Oaks". American City Business Journals.

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