HOUSTON-Friendswood Development Co. has purchased 1,050 acres south of Houston where it will develop a community called Savannah.The project, which will open in fall 2001, will have about 2,500 homes upon completion in a few years.

The project will be off Highway 288 in Brazoria County, about 20 miles from Downtown Houston. Portions of the land have been designated for the future development of a retail center, a library, a church, an elementary school, two lakes and a number of parks. Initial home prices are projected to range from $120,000 to more than $280,000.

Friendswood, which is owned by Miami-based Lennar Corp., has developed a number of master-planned communities in the Houston area including, Clear Lake City, Kingwood, Fairfield, Copperfield, Autumn Creek, Village Creek and Laurel Creek. Some of those projects are now mature and have run out of land.

The firm also plans to develop a community on 900 acres it owns on Mason Road on the west side of Houston. Friendswood is also seeking to buy additional land for future developments.

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