Consolidated and Combined Statements of Income (Loss) and Comprehensive Income (Loss) (USD $) In Thousands, except Per Share data, unless otherwise specified	12 Months Ended
	Dec. 31, 2011	Dec. 31, 2010	Dec. 31, 2009
Revenues:
Master Planned Community land sales	$ 113,502	$ 38,058	$ 34,563
Builder price participation	3,816	4,124	5,687
Minimum rents	71,178	66,926	65,653
Tenant recoveries	19,368	18,567	19,642
Condominium unit sales	22,067	1,139
Resort and conference center revenues	15,744
Other land revenues	14,141	5,384	5,747
Other rental and property revenues	15,875	8,521	5,056
Total revenues	275,691	142,719	136,348
Expenses:
Master Planned Community cost of sales	70,108	23,388	22,020
Master Planned Community operations	28,270	29,041	27,042
Rental property real estate taxes	11,571	14,530	13,813
Rental property maintenance costs	7,493	6,495	5,586
Condominium unit cost of sales	14,465	1,000
Resort and conference center operations	13,108
Other property operating costs	51,247	36,893	34,810
Provision for doubtful accounts		1,782	2,539
General and administrative	35,182	21,538	23,023
Provisions for impairment		503,356	680,349
Depreciation and amortization	16,782	16,563	19,841
Total expenses	248,226	654,586	829,023
Operating income (loss)	27,465	(511,867)	(692,675)
Interest income	9,876	369	1,689
Interest expense		(2,422)	(977)
Early extinguishment of debt	(11,305)
Warrant liability gain (loss)	101,584	(140,900)
Investment in real estate affiliate basis adjustment	(6,053)
Equity in earnings (loss) from Real Estate Affiliates	8,578	9,413	(28,209)
Income (loss) before taxes and reorganization items	130,145	(645,407)	(720,172)
Benefit from income taxes	18,325	633,459	23,969
Reorganization items		(57,282)	(6,674)
Net income (loss) from continuing operations	148,470	(69,230)	(702,877)
Discontinued operations - loss on dispositions			(939)
Net income (loss)	148,470	(69,230)	(703,816)
Net (income) loss attributable to noncontrolling interests	(1,290)	(201)	204
Net income (loss) attributable to common stockholders	147,180	(69,431)	(703,612)
Basic Earnings (Loss) Per Share:
Continuing operations	$ 3.88	$ (1.84)	$ (18.64)
Discontinued operations			$ (0.02)
Total basic earnings (loss) per share	$ 3.88	$ (1.84)	$ (18.66)
Diluted Earnings (Loss) Per Share:
Continuing operations	$ 1.17	$ (1.84)	$ (18.64)
Discontinued operations			$ (0.02)
Total diluted earnings (loss) per share	$ 1.17	$ (1.84)	$ (18.66)
Comprehensive Income (Loss), Net of Tax:
Net income (loss)	148,470	(69,230)	(703,816)
Other comprehensive income (loss):
Interest rate swap	(3,351)
Capitalized swap interest	(600)
Pension plan adjustment		117	1,182
Other comprehensive income (loss)	(3,951)	117	1,182
Comprehensive income (loss)	144,519	(69,113)	(702,634)
Comprehensive (income) loss attributable to noncontrolling interests	(1,290)	(201)	204
Comprehensive income (loss) attributable to common stockholders	$ 143,229	$ (69,314)	$ (702,430)