Condensed Consolidated Balance Sheets (Unaudited) (USD $) In Thousands	Jun. 30, 2011	Dec. 31, 2010
Investment in real estate:
Master Planned Community assets	$ 1,348,138	$ 1,350,648
Land	180,976	180,976
Buildings and equipment	344,636	343,006
Less accumulated depreciation	(88,894)	(83,390)
Developments in progress	292,550	293,403
Net property and equipment	2,077,406	2,084,643
Investment in Real Estate Affiliates	153,133	149,543
Net investment in real estate	2,230,539	2,234,186
Cash and cash equivalents	275,956	284,682
Accounts receivable, net	7,039	8,154
Notes receivable	37,405	38,954
Tax indemnity receivable, including interest	327,444	323,525
Deferred expenses, net	5,903	6,619
Prepaid expenses and other assets	141,145	126,587
Total assets	3,025,431	3,022,707
Liabilities:
Mortgages, notes and loans payable	306,668	318,660
Deferred tax liabilities	79,267	78,680
Warrant liabilities	298,483	227,348
Uncertain tax position liability	144,255	140,076
Accounts payable and accrued expenses	65,839	78,836
Total liabilities	894,512	843,600
Commitments and Contingencies
Stockholders' Equity:
Common stock: $.01 par value; 100,000,000 shares authorized, 37,942,107 shares issued and outstanding as of June 30, 2011 and 37,904,506 shares issued and outstanding as of December 31, 2010	379	379
Additional paid-in capital	2,709,281	2,708,036
Accumulated deficit	(577,047)	(528,505)
Accumulated other comprehensive loss	(2,503)	(1,627)
Total stockholders' equity	2,130,110	2,178,283
Noncontrolling interests	809	824
Total equity	2,130,919	2,179,107
Total liabilities and equity	$ 3,025,431	$ 3,022,707