Friendswood Development Company

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

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

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 timeline
  • 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]
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References
  1. 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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