Friendswood Development Company
{{Short description|Real estate company based in the United States}}
{{Infobox company
| name = Friendswood Development Company
| logo =
| 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
| homepage = {{URL|https://friendswooddevelopment.com/}}
}}
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.{{cite news | url=https://www.bizjournals.com/houston/print-edition/2015/10/30/friendswood-development-strengthens-foothold-in.html | title=Friendswood Development strengthens foothold in northeast Houston | first=Paul | last=Takahashi | publisher=American City Business Journals | date=October 30, 2015}}
The company also developed the Clear Lake City area near NASA in 1962.{{cite web | url=https://friendswooddevelopment.com/about-fdc | title=Houston's Premier Residential Land Developer | Friendswood Development Company }}
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.{{cite news | url=http://www.chron.com/business/energy/article/Oil-field-put-Exxon-and-Houston-on-map-2043639.php | title=Oil field put Exxon and Houston on map | first=MICHAEL | last=DAVIS | publisher=Houston Chronicle | date=October 28, 2001}}
- In 1970, The company developed Kingwood master planned community.{{cite web | url=https://friendswooddevelopment.com/communities/master-planned/kingwood | title=Kingwood | Friendswood Development Company }}
- In 1991, the company broke ground on the first new office building in Houston in 5 years.{{cite news | url=https://www.nytimes.com/1991/02/20/business/real-estate-new-office-tower-project-is-houston-s-first-in-5-years.html | title=New Office Tower Project Is Houston's First in 5 Years | first=Lettice | last=Stuart | work=The New York Times | date=February 20, 1991}}
- In June 1995, Exxon put the company up for sale.{{cite news | url=https://www.chicagotribune.com/1995/06/04/exit-from-industry/ | title=Exit From Industry | publisher=Chicago Tribune | date=June 4, 1995}}
- In December 1995, Lennar acquired the company for $110 million.{{cite news | url=https://www.nytimes.com/1995/12/08/business/company-news-lennar-to-buy-exxon-s-real-estate-unit.html | title=LENNAR TO BUY EXXON'S REAL ESTATE UNIT | agency=Reuters | work=The New York Times | date=December 8, 1995}}
- In 2014, the company expanded several of its communities.{{cite news | url=http://www.chron.com/homes/new-homes/article/Friendswood-Development-in-expansion-mode-5357571.php | title=Friendswood Development in expansion mode | publisher=Houston Chronicle | date=March 28, 2014}}
- In 2015, the company announced 3 new communities in northeast Houston.
- In 2016, the company opened Knoll Park, its first development in urban Houston.{{cite news | url=https://www.bizjournals.com/houston/news/2016/09/16/suburban-developer-makes-first-realforay-into.html | title=Suburban developer makes 'first real foray' into urban Houston | first=Paul | last=Takahashi | publisher=American City Business Journals | date=September 16, 2016}}{{cite news | url=http://www.chron.com/business/real-estate/article/Friendswood-Development-expands-urban-offerings-9213328.php | title=Friendswood Development expands urban offerings | first=Katherine | last=Feser | publisher=Houston Chronicle | date=September 9, 2016}}
- In 2017, the company launched its third residential development in Houston.{{cite news | url=https://www.bizjournals.com/houston/news/2017/06/06/houston-developer-launches-new-urban-community-in.html | title=Houston developer launches new urban community in Garden Oaks | first=Paul | last=Takahashi | publisher=American City Business Journals | date=June 6, 2017}}
References
{{Reflist|1}}
{{Portal|Texas|Companies}}
{{Authority control}}
Category:Companies based in Houston
Category:Real estate companies established in 1962
Category:American companies established in 1962
Category:Real estate companies of the United States