Friendswood Development Company

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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

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