Exhibit 21.1

MAXXAM INC.

PRINCIPAL SUBSIDIARIES OF THE REGISTRANT

Listed below are MAXXAM Inc.'s principal subsidiaries as of December 31, 2006, organized by business segment, and the jurisdiction of their incorporation or organization. Certain subsidiaries have been omitted which, when considered in the aggregate as a single subsidiary, would not constitute a significant subsidiary.

FOREST PRODUCTS OPERATIONS:

Britt Lumber Co., Inc. California

MAXXAM Group Inc. Delaware

Salmon Creek LLC Delaware

Scotia Development LLC Texas

Scotia Pacific Company LLC Delaware

The Pacific Lumber Company Delaware

REAL ESTATE OPERATIONS:

FireRock LLC Delaware

Lakepointe Assets LLC Delaware

MAXXAM Property Company Delaware

MCO Properties LP Delaware

MCO Properties, Inc. Delaware

Palmas Country Club, Inc. Delaware

Palmas del Mar Properties, Inc. Delaware

RACE PARK OPERATIONS:

Sam Houston Race Park, Ltd. Texas

OTHER:

MAXXAM Group Holdings Inc. Delaware