New life as a residential development could be in the future for an Exxon property sitting vacant in Friendswood.
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.
