About Us | Our History
Decades of Investment and Development Experience
Forestar's vision is to be the most admired and respected developer of real estate – the preferred investment and partner of choice.
The beginning of a legacy
Lumbermen's Investment Corporation (LIC) incorporates.
The first TLC high-rises go up
LIC's subsidiary, The Lumbermen's Company (TLC), approaches final construction stages of its impressive high-rise buildings: Westgate in Austin and Houston House in Houston. Another major investment is in progress: The “Greenway,” a 41-acre commercial subdivision in Houston.
Sabine created to focus on new opportunities
Temple organizes Sabine Investment Company of Texas, Inc., to focus on land development opportunities. Sabine’s approximately 30,000 acre portfolio includes 10,000 acres of prime recreational lands; Completed projects include more than 1,100 home sites in 10 subdivisions on Lake Sam Rayburn and Toledo Bend Reservoir; and wholly-owned subsidiary Scotch Investment Company owns and operates such income-producing properties as the 260-room Emerald Cove Hotel in Corpus Christi, and its 19 acres of adjoining beachfront; a 114 unit hotel in Nacogdoches; a 116 unit garden apartment in Houston; and commercial property in San Antonio.
Developments including Onion Creek add value to Austin area
Two joint venture agreements are formed to develop two tracts of land near Austin. The 1,700 acres will be subdivided into more than 4,000 residential lots and 80 acres of commercial property. The Onion Creek subdivision will include full recreational facilities centered around an 18-hole championship golf course.
LIC developments attract major builders/developers
LIC is active in joint venture residential development in Austin, San Antonio, Houston and Beaumont, Texas. Developments in various stages of completion represent some 3,500 acres, with major developers and builders participating. Onion Creek is the locale for the annual nationally televised “Legends of Golf Tournament.”
Temple and Cousins form partnership
Cousins Real Estate Corporation and Temple-Inland Realty, Inc. form Temco to develop residential sites in Georgia.
Positive growth in commercial income properties
The Company owns 21 commercial income properties including two hotels, eight office buildings, five retail centers and six parcels of commercial land. The institutional quality hotels (totaling 648 rooms) and office buildings in Austin and Dallas are held for investment.
Growth continues in Texas, Colorado and Florida
Land development projects include 19 residential subdivisions in Austin, Houston, San Antonio and Dallas, Texas, as well as Denver, Colorado and Tampa, Florida. Company-owned commercial properties include two hotels, two office buildings, two retail centers and four parcels of commercial land.
LIC expands holdings, grows in Texas and beyond
LIC expands its holdings in Texas while diversifying into Colorado, Florida and California. LIC-owned Texas hotels include a 368-room Holiday Inn in Corpus Christi and a 280-room Radisson Hotel in Austin with plans to add 135 suites. 12 company-owned commercial properties include two hotels, two office buildings, a retail center, two business parks and five parcels of commercial land. The company is also a joint venture financial partner in six apartment projects.
Land development enjoys cross-country growth
Projects include 38 residential subdivisions in Texas, California, Colorado, Florida, Georgia, Missouri, Tennessee and Utah. By year-end, land development inventory reaches 2,238 residential lots, 585 lots under development and 6,371 acres of land. 18 Lumbermen's owned commercial properties include two hotels, one retail center, two business parks, five parcels of commercial land and joint venture properties located in Texas, New Mexico, Florida and California.
TILT focuses on high-value land
Real estate professionals are gathered to form Temple-Inland Land & Timber Inc. (TILT) in Atlanta, Georgia, to manage 160,000 acres of high-value land with a focus on its long-term potential.
System identifies high-value potential, CL Realty formed
Temple-Inland forests are segmented into three categories: strategic (1.8 million acres), non-strategic (110,000 acres) and high-value (160,000 acres). A new system focuses on the long-term potential of substantial high-value land, primarily located around Atlanta, Georgia, and managed by TILT who creates value through sales to end users.
Real estate to become core Company business
Temple-Inland announces that in 2006 real estate would become a core business and would be reported as a separate segment of Temple-Inland operations.
Core real estate business introduced as Forestar
Temple-Inland launched Forestar Real Estate Group by combining the real estate operations of its Forest Products and Financial Services groups, with real estate activities now reported as a separate business segment.
Forestar Launches as Public Company Traded on NYSE
Minerals transferred from Temple-Inland to Forestar. Forestar Real Estate Group spins-off from Temple-Inland and launches as one of the nation’s largest, publicly-traded real estate development companies. Forestar is added to the New York Stock Exchange under the ticker symbol "FOR."
Forestar Announces Strategic Initiatives
Forestar announces several near-term strategic initiatives focused on enhancing shareholder value and positioning the company for future growth opportunities. These initiatives include generating significant cash flow principally from the sale of 175,000 acres of HBU timberland, reducing debt $150 million, enhancing transparency and disclosures related to our mineral assets, and improving cash flow by reducing investment in real estate development and lowering costs.
Forestar Enters Multifamily Leasing Market
Leveraging on favorable market dynamics for multifamily leasing, Forestar enters the multifamily leasing market. The business model is to leverage existing sites and investments with third-party co-invest capital to create and realize value. Forestar initiates construction of its first multifamily leasing project, Promesa, located in Austin.
Forestar Acquires Credo Petroleum
Forestar completed the acquisition of Credo Petroleum, an oil and gas exploration, development and production company based in Denver, Colorado. Credo owned leasehold interests in over 135,000 net mineral acres.
Forestar's successful history of real estate investment and development activity originated with Temple-Inland, through Lumbermen's Investment Corporation, Temple-Inland Land and Timber, joint venture partnerships with Cousins Properties, and many valued strategic alliances with prominent regional developers. We are proud to be creating developments that enhance the lives of community residents while creating value for our shareholders, partners and employees.
At Forestar we look with pride on our past and with anticipation towards an enduring future.