Friendswood Development Company Explained

Friendswood Development Company
Type:	Subsidiary of Lennar
Founded:	1962, as a subsidiary of Humble Oil
Location:	Houston, Texas
Area Served:	Greater Houston
Key People:	John Hammond, President
Industry:	Real estate
Owner:	Lennar

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.
• 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]

Notes and References

1. News: Friendswood Development strengthens foothold in northeast Houston . Paul . Takahashi . . October 30, 2015.
2. https://friendswooddevelopment.com/about-fdc
3. News: Oil field put Exxon and Houston on map . MICHAEL . DAVIS . . October 28, 2001.
4. https://friendswooddevelopment.com/communities/master-planned/kingwood
5. News: New Office Tower Project Is Houston's First in 5 Years . Lettice . Stuart . . February 20, 1991.
6. News: Exit From Industry . . June 4, 1995.
7. News: LENNAR TO BUY EXXON'S REAL ESTATE UNIT . . . December 8, 1995.
8. News: Friendswood Development in expansion mode . . March 28, 2014.
9. News: Suburban developer makes 'first real foray' into urban Houston . Paul . Takahashi . . September 16, 2016.
10. News: Friendswood Development expands urban offerings . Katherine . Feser . . September 9, 2016.
11. News: Houston developer launches new urban community in Garden Oaks . Paul . Takahashi . . June 6, 2017.