CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Dec. 31, 2012	Dec. 31, 2011
Investment in real estate:
Master Planned Community assets	$ 1,563,122	$ 1,602,437
Land	252,593	234,190
Buildings and equipment	657,268	545,343
Less: accumulated depreciation	(112,491)	(91,605)
Developments	273,613	207,760
Net property and equipment	2,634,105	2,498,125
Investment in Real Estate Affiliates	32,179	58,790
Net investment in real estate	2,666,284	2,556,915
Cash and cash equivalents	229,197	227,566
Accounts receivable, net	13,905	20,089
Municipal Utility District receivables, net	89,720	86,599
Notes receivable, net	27,953	35,354
Tax indemnity receivable, including interest	319,622	331,771
Deferred expenses, net	12,891	10,338
Prepaid expenses and other assets, net	143,470	130,961
Total assets	3,503,042	3,399,593
Liabilities:
Mortgages, notes and loans payable	688,312	606,477
Deferred tax liabilities	77,147	75,966
Warrant liabilities	123,573	127,764
Uncertain tax position liability	132,492	129,939
Accounts payable and accrued expenses	170,521	129,848
Total liabilities	1,192,045	1,069,994
Commitments and Contingencies (see Note 10)
Equity:
Preferred stock: $.01 par value; 50,000,000 shares authorized, none issued
Common stock: $.01 par value; 150,000,000 shares authorized, 39,498,912 shares issued and outstanding as of December 31, 2012 and 37,945,707 shares issued and outstanding as of December 31, 2011	395	379
Additional paid-in capital	2,824,031	2,711,109
Accumulated deficit	(509,613)	(381,325)
Accumulated other comprehensive loss	(9,575)	(5,578)
Total stockholders' equity	2,305,238	2,324,585
Noncontrolling interests	5,759	5,014
Total equity	2,310,997	2,329,599
Total liabilities and equity	$ 3,503,042	$ 3,399,593