Note 4 - Real Estate Under Development

6 Months Ended

Jun. 30, 2019

Notes to Financial Statements

Real Estate Under Development [Text Block]

4. Real Estate Under Development

The Company is engaged in various real estate development projects for long-term investment. The costs incurred to date for these real estate development projects are as follows (in thousands):

Property Name	Location	June 30, 2019		December 31, 2018
Dania Pointe – Phases II, III and IV	Dania Beach, FL	$	203,871	$	152,111
Mill Station	Owings Mills, MD		67,243		55,771
Promenade at Christiana (1)	New Castle, DE		33,510		33,502
Total*		$	304,624	$	241,384

* Includes capitalized costs of interest, real estate taxes, insurance, legal costs and payroll of $30.1 million and $24.9 million, as of June 30, 2019 and December 31, 2018, respectively.

(1) Project to be developed in the future.

During the six months ended June 30, 2019, the Company capitalized (i) interest of $4.1 million, (ii) real estate taxes, insurance and legal costs of $0.4 million, and (iii) payroll of $0.7 million in connection with its real estate development projects.