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Note 3 - Real Estate Under Development | 3 Months Ended
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Mar. 31, 2017
Notes to Financial Statements |
Real Estate Under Development [Text Block] | 3. Real Estate Under Development The Company is engaged in various real estate development projects for long-term investment. As of March 31, 2017, the Company had in progress a total of seven real estate development projects located in the U.S. These projects will be developed into open-air shopping centers aggregating 2.6 million square feet of GLA, including residential and mixed-use components, with a total estimated aggregate project cost of $674.0 million. The costs incurred to date for these real estate development projects are as follows (in thousands):
Property Name | Location |  | March 31, 2017 |  |  | December 31, 2016 |
Grand Parkway Marketplace | Spring, TX |  | $ | 106,752 |  |  | $ | 94,841 |
Dania Pointe (1) | Dania Beach, FL |  |  | 114,532 |  |  |  | 107,113 |
Promenade at Christiana | New Castle, DE |  |  | 26,041 |  |  |  | 25,521 |
Owings Mills | Owings Mills, MD |  |  | 26,787 |  |  |  | 25,119 |
Lincoln Square (2) | Philadelphia, PA |  |  | 34,836 |  |  |  | - |
Avenues Walk | Jacksonville, FL |  |  | 73,048 |  |  |  | 73,048 |
Staten Island Plaza (3) | Staten Island, NY |  |  | 9,392 |  |  |  | 9,386 |
|  |  | $ | 391,388 |  |  | $ | 335,028 |
| (1) | Includes $45.9 million of land held for future development.
| (2) | During the three months ended March 31, 2017, KIM Lincoln, LLC (“KIM Lincoln”), a wholly owned subsidiary of the Company, and Lincoln Square Property, LP (“Lincoln Member”) entered in a joint venture agreement wherein KIM Lincoln has a 90% controlling interest and Lincoln Member has a 10% noncontrolling interest. The joint venture acquired land parcels in Philadelphia, PA to be held for development for a gross purchase price of $10.0 million. Based upon the Company’s intent to develop the property, the Company allocated the gross purchase price to Real estate under development on the Company’s Condensed Consolidated Balance Sheets. This joint venture is accounted for as a consolidated VIE (see Footnote 6).
| (3) | Land held for future development.

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