OTHER ASSETS AND LIABILITIES (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Dec. 31, 2015
Prepaid Expenses and Other Assets
Condominium receivables	$ 307,464	$ 191,037
Condominium deposits	62,523	55,749
Special Improvement District receivable	72,575	72,558
Equipment, net of accumulated depreciation of $4.3 million and $3.9 million, respectively	19,343	18,772
Tenant incentives and other receivables	10,117	10,480
Security and escrow deposits	8,854	17,599
Prepaid expenses	10,331	8,474
Federal income tax receivable	10,577	11,972
Intangibles	4,006	4,045
Uncertain tax position asset	117	112
Other	2,199	5,347
Total prepaid expenses and other assets	550,939	441,190
Accumulated depreciation on other equipment	4,300	3,900
2016	249,400
2017	58,100
Accounts Payable and Accrued Expenses
Construction payables	194,052	185,731
Deferred income	135,672	117,700
Condominium deposit liabilities	61,906	50,192
Accounts payable and accrued expenses	42,716	33,928
Tenant and other deposits	31,936	31,193
Accrued interest	29,535	16,504
Accrued payroll and other employee liabilities	15,603	31,271
Accrued real estate taxes	7,171	15,134
Interest rate swaps	19,214	4,217
Other	24,743	27,371
Total accounts payable and accrued expenses	564,621	515,354
Prepaid Expenses and Other Current Assets
Prepaid Expenses and Other Assets
Increase in prepaid expenses and other assets	109,700
Increase (decrease) in condominium deposits	116,400
Other net changes	1,700
Increase in tenant and other receivables	3,100
Accounts Payable and Accrued Liabilities
Accounts Payable and Accrued Expenses
Increase in accounts payable and accrued expenses	49,300
Increase in condominium deposits liability	11,700
Increase in accrued interest	13,000
Increase in construction payable	8,300
Increase in interest rate swap liability	15,000
Increase in accrued payroll and other employee liabilities	(15,700)
Decrease in accrued real estate taxes	(8,000)
Other immaterial decreases	(1,800)
33 Peck Slip | Prepaid Expenses and Other Current Assets
Prepaid Expenses and Other Assets
Decrease in security and escrow deposits	(8,700)
Sale of units | Prepaid Expenses and Other Current Assets
Prepaid Expenses and Other Assets
Increase (decrease) in condominium deposits	6,800
Summerlin | Accounts Payable and Accrued Liabilities
Accounts Payable and Accrued Expenses
Increase in accounts payable and accrued expenses	8,800
Increase in deferred income	18,000
Leases, Acquired-in-Place
Prepaid Expenses and Other Assets
Net carrying amount	20,245	22,139
Ground Leases below Market
Prepaid Expenses and Other Assets
Net carrying amount	19,240	19,325
Tenant Leases above Market
Prepaid Expenses and Other Assets
Net carrying amount	3,348	3,581
Ground Leases above Market
Accounts Payable and Accrued Expenses
Net carrying amount	$ 2,073	$ 2,113