Not exactly centered around the game, but it's still a pretty awesome endeavor.
link
I guess it was made for a Stoor...

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Not exactly like the hobbit houses I picture when I read the books

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Its not a hobbit house unless it is in a hole! but still I can see the influences.

Hobbits certainly used some above ground accomodation - the wing of the Prancing Pony in Bree being the most famous example. The bulk of hobbits probably did live underground but any animal sheds, mills, forges etcetera would need to be substantially above ground. The Green Dragon looks like it is partly underground and partly above ground - more room for eating and drinking.
I would love a hobbit-styled house - not all underground but with that ageless sense of real quality about it.

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