Investments in Multifamily Joint Ventures as of December 31, 2023 (Details) - USD ($) $ in Thousands	Mar. 31, 2024	Dec. 31, 2023
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	$ 508,350	$ 500,235
Cash and restricted cash	11,472	14,149
Unrealized rents & receivables	7,385	7,731
Deferred costs	5,983	6,229
Total Assets	705,673	709,166
Secured notes payable	279,326	263,717
Other liabilities	4,058	8,742
Capital – Third Parties	416,133	414,520
Total Liabilities and Capital	705,673	709,166
Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	533,190	528,344
Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	158,953	160,776
Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	90,853	95,109
Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	533,190	528,344
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	4,782	4,652
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	4,782	4,652
Buzzard Point Sponsor Partnership [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	2,391	2,326
Buzzard Point Sponsor Partnership [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	2,391	2,326
Buzzard Point Sponsor Partnership [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	4,782	4,652
Bryant Street Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	188,761	187,616
Cash and restricted cash	6,060	7,543
Unrealized rents & receivables	6,428	6,737
Deferred costs	570	738
Secured notes payable	110,333	107,084
Other liabilities	1,490	3,129
Bryant Street Partnerships [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	201,819	202,634
Bryant Street Partnerships [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	68,009	69,779
Bryant Street Partnerships [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	21,987	22,642
Bryant Street Partnerships [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	201,819	202,634
Estero Partnership [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	36,212	35,576
Cash and restricted cash	2,317	3,076
Unrealized rents & receivables	0	0
Deferred costs	0	0
Secured notes payable	16,000	16,000
Other liabilities	0	0
Estero Partnership [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	38,529	38,652
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	18,929	19,052
Estero Partnership [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	38,529	38,652
Verge [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	127,064	128,154
Cash and restricted cash	940	1,323
Unrealized rents & receivables	390	403
Deferred costs	246	293
Secured notes payable	71,332	72,691
Other liabilities	1,082	1,344
Verge [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	128,640	130,173
Verge [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	34,441	34,391
Verge [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	21,785	21,747
Verge [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	128,640	130,173
Greenville Partnerships [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	97,508	95,911
Cash and restricted cash	1,890	2,000
Unrealized rents & receivables	119	127
Deferred costs	130	185
Secured notes payable	81,619	66,434
Other liabilities	1,108	3,867
Greenville Partnerships [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	99,647	98,223
Greenville Partnerships [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	5,418	10,450
Greenville Partnerships [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	11,502	17,472
Greenville Partnerships [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	99,647	98,223
Multifamily J V [Member]
Schedule of Equity Method Investments [Line Items]
Investments in real estate, net	449,545	447,257
Cash and restricted cash	11,207	13,942
Unrealized rents & receivables	6,937	7,267
Deferred costs	5,728	5,868
Secured notes payable	279,284	262,209
Other liabilities	3,680	8,340
Multifamily J V [Member] | Real Estate Total Assets [Member]
Schedule of Equity Method Investments [Line Items]
Total Assets	473,417	474,334
Multifamily J V [Member] | Real Estate Partnership F R P [Member]
Schedule of Equity Method Investments [Line Items]
Capital – FRP	113,859	120,546
Multifamily J V [Member] | Real Estate Partnership Third Parties [Member]
Schedule of Equity Method Investments [Line Items]
Capital – Third Parties	76,594	83,239
Multifamily J V [Member] | Real Estate Partnership Total Liabilities And Capital [Member]
Schedule of Equity Method Investments [Line Items]
Total Liabilities and Capital	$ 473,417	$ 474,334