Investments in Multifamily Joint Ventures as of December 31, 2023 (Details) - USD ($) $ in Thousands	Dec. 31, 2023	Dec. 31, 2022	Dec. 31, 2021
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	$ 500,235	$ 493,324
Cash and restricted cash	14,149	7,937
Unrealized rents & receivables	7,731	5,577
Deferred costs	6,229	3,802
Total Assets	709,166	701,084	$ 678,190
Secured notes payable	263,717	276,801
Other liabilities	8,742	11,023
Capital – Third Parties	414,520	407,145
Total Liabilities and Capital	709,166	701,084
Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	528,344	510,640
Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	160,776	135,333
Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	95,109	87,483
Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	528,344	510,640
Buzzard Point Sponsor Partnership [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	0	0
Cash and restricted cash	0	0
Unrealized rents & receivables	0	0
Deferred costs	4,652	2,906
Secured notes payable	0	0
Other liabilities	0	0
Buzzard Point Sponsor Partnership [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	4,652	2,906
Buzzard Point Sponsor Partnership [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	2,326	1,453
Buzzard Point Sponsor Partnership [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	2,326	1,453
Buzzard Point Sponsor Partnership [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	4,652	2,906
Bryant Street Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	187,616	192,904
Cash and restricted cash	7,543	1,349
Unrealized rents & receivables	6,737	5,128
Deferred costs	738	393
Secured notes payable	107,084	129,263
Other liabilities	3,129	2,338
Bryant Street Partnerships [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	202,634	199,774
Bryant Street Partnerships [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	69,779	53,553
Bryant Street Partnerships [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	22,642	14,620
Bryant Street Partnerships [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	202,634	199,774
Estero Partnership [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	35,576	33,008
Cash and restricted cash	3,076	5,497
Unrealized rents & receivables	0	0
Deferred costs	0	0
Secured notes payable	16,000	16,000
Other liabilities	0	5
Estero Partnership [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	38,652	38,505
Estero Partnership [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	3,600	3,600
Estero Partnership [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	19,052	18,900
Estero Partnership [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	38,652	38,505
Verge [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	128,154	130,616
Cash and restricted cash	1,323	359
Unrealized rents & receivables	403	14
Deferred costs	293	139
Secured notes payable	72,691	66,584
Other liabilities	1,344	5,328
Verge [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	130,173	131,128
Verge [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	34,391	36,348
Verge [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	21,747	22,868
Verge [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	130,173	131,128
Greenville Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	95,911	95,883
Cash and restricted cash	2,000	567
Unrealized rents & receivables	127	13
Deferred costs	185	88
Secured notes payable	66,434	64,954
Other liabilities	3,867	3,014
Greenville Partnerships [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	98,223	96,551
Greenville Partnerships [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	10,450	11,087
Greenville Partnerships [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	17,472	17,496
Greenville Partnerships [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	98,223	96,551
Multifamily J V [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	447,257	452,411
Cash and restricted cash	13,942	7,772
Unrealized rents & receivables	7,267	5,155
Deferred costs	5,868	3,526
Secured notes payable	262,209	276,801
Other liabilities	8,340	10,685
Multifamily J V [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	474,334	468,864
Multifamily J V [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	120,546	106,041
Multifamily J V [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	83,239	75,337
Multifamily J V [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	$ 474,334	$ 468,864