CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Mar. 31, 2012	Dec. 31, 2011
Investment in real estate:
Master Planned Community assets	$ 1,601,385	$ 1,602,437
Land	238,699	236,363
Buildings and equipment	559,192	556,786
Less: accumulated depreciation	(96,692)	(92,494)
Developments in progress	200,552	195,034
Net property and equipment	2,503,136	2,498,126
Investments in Real Estate Affiliates	63,091	62,595
Net investment in real estate	2,566,227	2,560,721
Cash and cash equivalents	209,974	227,566
Accounts receivable, net	13,991	15,644
Municipal Utility District receivables, net	90,428	86,599
Notes receivable, net	33,690	35,354
Tax indemnity receivable, including interest	333,750	331,771
Deferred expenses, net	11,609	10,338
Prepaid expenses and other assets, net	130,619	127,156
Total assets	3,390,288	3,395,149
Liabilities:
Mortgages, notes and loans payable	598,287	606,477
Deferred tax liabilities	77,868	75,966
Warrant liabilities	249,615	127,764
Uncertain tax position liability	131,934	129,939
Accounts payable and accrued expenses	113,944	125,404
Total liabilities	1,171,648	1,065,550
Commitments and Contingencies (see Note 12)
Equity:
Preferred stock: $.01 par value; 50,000,000 shares authorized, none issued
Common stock: $.01 par value; 150,000,000 shares authorized, 37,945,707 shares issued and outstanding as of March 31, 2012 and 37,945,707 shares issued and outstanding as of December 31, 2011	379	379
Additional paid-in capital	2,711,980	2,711,109
Accumulated deficit	(493,583)	(381,325)
Accumulated other comprehensive loss	(5,886)	(5,578)
Total stockholders' equity	2,212,890	2,324,585
Noncontrolling interest	5,750	5,014
Total equity	2,218,640	2,329,599
Total liabilities and equity	$ 3,390,288	$ 3,395,149