Hines, a multinational real estate investment group, is under contract to develop the property located between the Wilderness Trails and Creekwood Estates subdivisions. Carson Nunnelly, a director at Hines, discussed the project with Friendswood City Council during its Jan. 9 meeting.
The project would turn the 159 acres into 187 90-foot lots for single-family homes, Nunnelly said. Hines would invest $33 million for the major infrastructure needed for the site.
“It’s a unique piece of property that has a lot of infrastructure needs, needs that can help benefit the city of Friendswood long term,” City Manager Morad Kabiri said.
A number of challenges for developing the property include the inactive oil wells, access to the site, water services, sanitary sewer services and the future extension of Friendswood Parkway through the area.
