CONDENSED CONSOLIDATED BALANCE SHEETS (USD $) In Thousands, unless otherwise specified	Jun. 30, 2012	Dec. 31, 2011
Investment in real estate:
Master Planned Community assets	$ 1,597,244	$ 1,602,437
Land	253,024	236,363
Buildings and equipment	627,554	556,786
Less: accumulated depreciation	(101,169)	(92,494)
Developments in progress	204,450	195,034
Net property and equipment	2,581,103	2,498,126
Investment in Real Estate Affiliates	32,597	62,595
Net investment in real estate	2,613,700	2,560,721
Cash and cash equivalents	254,288	227,566
Accounts receivable, net	15,315	15,644
Municipal Utility District receivables, net	94,710	86,599
Notes receivable, net	30,182	35,354
Tax indemnity receivable, including interest	326,972	331,771
Deferred expenses, net	12,549	10,338
Prepaid expenses and other assets, net	119,987	127,156
Total assets	3,467,703	3,395,149
Liabilities:
Mortgages, notes and loans payable	659,397	606,477
Deferred tax liabilities	76,876	75,966
Warrant liabilities	226,185	127,764
Uncertain tax position liability	133,404	129,939
Accounts payable and accrued expenses	119,435	125,404
Total liabilities	1,215,297	1,065,550
Commitments and Contingencies (see Note 13)
Equity:
Preferred stock: $.01 par value; 50,000,000 shares authorized, none issued
Common stock: $.01 par value; 150,000,000 shares authorized, 37,973,640 shares issued and outstanding as of June 30, 2012 and 37,945,707 shares issued and outstanding as of December 31, 2011	379	379
Additional paid-in capital	2,713,178	2,711,109
Accumulated deficit	(459,275)	(381,325)
Accumulated other comprehensive loss	(8,308)	(5,578)
Total stockholders' equity	2,245,974	2,324,585
Noncontrolling interests	6,432	5,014
Total equity	2,252,406	2,329,599
Total liabilities and equity	$ 3,467,703	$ 3,395,149