CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (USD $) In Thousands, except Per Share data, unless otherwise specified	3 Months Ended		6 Months Ended
	Jun. 30, 2012	Jun. 30, 2011	Jun. 30, 2012	Jun. 30, 2011
Revenues:
Master Planned Community land sales	$ 43,928	$ 18,148	$ 80,017	$ 41,540
Builder price participation	1,528	597	2,341	1,118
Minimum rents	20,577	16,976	39,474	33,695
Tenant recoveries	6,003	4,615	11,867	9,139
Condominium unit sales	134	6,660	267	10,424
Resort and conference center revenues	11,970		21,626
Other land revenues	3,531	2,257	7,048	3,556
Other rental and property revenues	6,268	1,568	11,062	4,451
Total revenues	93,939	50,821	173,702	103,923
Expenses:
Master Planned Community cost of sales	22,978	9,438	41,657	24,874
Master Planned Community operations	9,979	4,941	21,026	11,027
Rental property real estate taxes	3,171	2,630	7,009	5,783
Rental property maintenance costs	2,086	1,563	4,041	3,123
Condominium unit cost of sales	36	5,273	96	8,252
Resort and conference center operations	7,371		14,785
Other property operating costs	15,044	10,135	29,373	20,004
Provision for doubtful accounts	164	304	45	315
General and administrative	8,160	7,662	16,557	12,483
Depreciation and amortization	5,893	3,186	10,951	6,383
Total expenses	74,882	45,132	145,540	92,244
Operating income	19,057	5,689	28,162	11,679
Interest income	2,342	2,243	4,673	4,754
Interest expense	(200)		(201)
Warrant liability gain (loss)	23,430	56,910	(98,421)	(69,135)
Loss on remeasurement of tax indemnity receivable	(8,782)		(8,782)
Equity in earnings from Real Estate Affiliates	446	2,110	3,122	7,623
Income (loss) before taxes	36,293	66,952	(71,447)	(45,079)
Provision for income taxes	1,301	959	5,085	3,415
Net income (loss)	34,992	65,993	(76,532)	(48,494)
Net income attributable to noncontrolling interests	(682)	(20)	(1,418)	(48)
Net income (loss) attributable to common stockholders	$ 34,310	$ 65,973	$ (77,950)	$ (48,542)
Basic Income (Loss) Per Share: (in dollars per share)	$ 0.91	$ 1.74	$ (2.06)	$ (1.28)
Diluted Income (Loss) Per Share: (in dollars per share)	$ 0.27	$ 0.22	$ (2.06)	$ (1.28)