| Company type | Subsidiary of Lennar |
|---|---|
| Industry | Real estate |
| Founded | 1962, as a subsidiary of Humble Oil |
| Headquarters | Houston, Texas |
| Area served | Greater Houston |
| Key people | John Hammond, President |
| Owner | Lennar |
| Website | friendswooddevelopment |
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. The company also developed the Clear Lake City area near NASA in 1962.
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.
- In 1970, The company developed Kingwood master planned community.
- In 1991, the company broke ground on the first new office building in Houston in 5 years.
- In June 1995, Exxon put the company up for sale.
- In December 1995, Lennar acquired the company for $110 million.
- In 2014, the company expanded several of its communities.
- In 2015, the company announced 3 new communities in northeast Houston.
- In 2016, the company opened Knoll Park, its first development in urban Houston.
- In 2017, the company launched its third residential development in Houston.
References
- ^ Takahashi, Paul (October 30, 2015). "Friendswood Development strengthens foothold in northeast Houston". American City Business Journals.
- "Houston's Premier Residential Land Developer | Friendswood Development Company".
- DAVIS, MICHAEL (October 28, 2001). "Oil field put Exxon and Houston on map". Houston Chronicle.
- "Kingwood | Friendswood Development Company".
- Stuart, Lettice (February 20, 1991). "New Office Tower Project Is Houston's First in 5 Years". The New York Times.
- "Exit From Industry". Chicago Tribune. June 4, 1995.
- "LENNAR TO BUY EXXON'S REAL ESTATE UNIT". The New York Times. Reuters. December 8, 1995.
- "Friendswood Development in expansion mode". Houston Chronicle. March 28, 2014.
- Takahashi, Paul (September 16, 2016). "Suburban developer makes 'first real foray' into urban Houston". American City Business Journals.
- Feser, Katherine (September 9, 2016). "Friendswood Development expands urban offerings". Houston Chronicle.
- Takahashi, Paul (June 6, 2017). "Houston developer launches new urban community in Garden Oaks". American City Business Journals.
