Friendswood Development Company

Friendswood Development Company
Subsidiary of Lennar Corporation
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 Corporation
Website www.friendswooddevelopment.com

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

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]

History

The company was founded in 1962 as a subsidiary of Humble Oil.

In 1963, the company established Clear Lake City, its first project.[2]

In 1991, the company broke ground on the first new office building in Houston in 5 years.[3]

In June 1995, Exxon put the company up for sale.[4]

In December 1995, Lennar Corporation acquired the company for $110 million.[5]

In 2014, the company expanded several of its communities.[6]

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.[7][8]

In 2017, the company launched its third residential development in Houston.[9]

References

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