Exhibit 99.1

NEWS

RELEASE

FOR IMMEDIATE RELEASE

CONTACT: Anna E. Torma

(512) 433-5312

FORESTAR GROUP INC. REPORTS

FIRST QUARTER 2012 RESULTS

Accelerating Value Realization By Increasing Oil Production and Growing Net Asset Value By Capitalizing on Strategic Growth Opportunities

“During first quarter, oil and natural gas revenues continued to gain momentum, driven primarily by increased oil production in the Upper Wilcox formation located in Beauregard Parish, Louisiana. Residential lot sales activity continued to reflect year-over-year improvement due to low finished lot inventories and relatively stable demand in the major markets of Texas. We also closed the previously announced sale of our interest in the Palisades West commercial venture in Austin, Texas for $32 million. In addition, we completed the previously announced acquisition of the entire interest in 17 projects from the CL Realty and TEMCO ventures with Cousins Properties. These results are consistent with our Triple in FOR strategic initiatives to accelerate value realization and grow net asset value through strategic and disciplined investments,” said Jim DeCosmo, president and chief executive officer of Forestar Group.

First Quarter Significant Highlights

Minerals — Oil & Gas

· Oil production up over 115% compared with first quarter 2011 and up almost 40% from fourth quarter 2011

· Four new oil and gas wells completed; 534 active wells producing oil and natural gas operated by exploration and production lessees at quarter-end

Real Estate

· Sold 285 finished residential lots, a 33% increase compared with first quarter 2011 — Almost 1,200 lots under option contracts

· Sold seven acres of impervious cover development rights in Texas for over $1 million, resulting in over $900,000 in segment earnings; leaving about 90 acres available for sale

Strategic Initiatives

· Closed the previously announced sale of our 25% interest in Palisades West for $32.0 million, generating a gain on sale of $11.7 million.

· Completed the previously announced acquisition of the entire interest in 17 real estate assets from the CL Realty and TEMCO ventures, two ongoing ventures with Cousins Properties, for a net investment of approximately $23.5 million.

AUSTIN, TEXAS, May 10, 2012—Forestar Group Inc. (NYSE: FOR) today reported first quarter 2012 net income of approximately $2.8 million, or $0.08 per diluted share, compared with a first quarter 2011 net loss of ($2.5) million, or ($0.07) per share outstanding.

Forestar manages its operations through three business segments: Mineral Resources, Real Estate and Fiber Resources.

MINERAL RESOURCES

· Oil production up over 115% compared with first quarter 2011 and up almost 40% compared with fourth quarter 2011

· Four new wells completed by exploration and production lessees, 534 producing wells at quarter-end, up 38 compared with first quarter 2011

· Leased over 800 net mineral acres in Texas and received $1.1 million in delay rental payments

· Invested $1.8 million in non-operating working interest in a new well in Louisiana

Segment Financial Results:

($ in millions) |  | 1Q 2012 |  | 1Q 2011 |  | 4Q 2011 |
Segment Revenues |  | $ | 9.4 |  | $ | 7.3 |  | $ | 6.8 |
Segment Earnings |  | $ | 5.9 |  | $ | 5.6 |  | $ | 3.7 |

Mineral resources segment earnings increased in first quarter 2012 compared with first quarter 2011 principally due to increased oil production and higher oil prices, which were partially offset by decreased lease bonus revenues and incremental personnel costs. Mineral resources segment earnings increased in first quarter 2012 compared with fourth quarter 2011 primarily due to increased oil production.

REAL ESTATE

· Sold 285 finished residential lots, a 33% increase compared with first quarter 2011

· Almost 1,200 lots under option contracts

· Sold 455 acres of undeveloped land for nearly $2,400 per acre

· Sold seven acres of impervious cover development rights in Texas for over $1 million, resulting in over $900,000 in segment earnings; leaving about 90 acres available for sale

Segment Financial Results:

($ in millions) |  | 1Q 2012 |  | 1Q 2011 |  | 4Q 2011 |
Segment Revenues |  | $ | 17.9 |  | $ | 21.1 |  | $ | 46.4 |
Segment Earnings (Loss) |  | $ | 11.5 |  | $ | 2.6 |  | $ | (25.0 | )

First quarter 2012 real estate segment earnings were higher compared with first quarter 2011 principally due to an $11.7 million gain associated with the sale of our 25% interest in Palisades West and higher residential lot sales. Fourth quarter 2011 real estate segment earnings include non-cash asset impairment charges of $44.5 million principally related to entering into agreements to acquire certain assets from the CL Realty and TEMCO ventures, which closed in first quarter 2012.

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FIBER RESOURCES

· Sold 28,800 tons of fiber

· Recreational leasing activity remains strong, almost 99% of available land leased

Segment Financial Results:

($ in millions) |  | 1Q 2012 |  | 1Q 2011 |  | 4Q 2011 |
Segment Revenues |  | $ | 0.7 |  | $ | 1.4 |  | $ | 0.9 |
Segment Earnings |  | $ | 0.4 |  | $ | 0.6 |  | $ | 0.1 |

First quarter 2012 fiber resources segment earnings declined compared with first quarter 2011 principally due to reduced harvest volumes associated with the sale of over 74,000 acres of timberland since first quarter 2011. Recreational leasing activity remained strong during first quarter, with almost 99% of available land leased for recreation.

OUTLOOK

“We continue to generate momentum through our oil and gas initiatives to increase exploration, production and reserves. Higher oil prices have increased exploration and production in Louisiana. In addition, our working interests in three oil wells in Beauregard Parish, Louisiana continue to provide incremental value realization. Going forward, we expect to participate in additional non-operating working interest investments, which provide Forestar with an additional low-cost, low-risk opportunity to realize the greatest value from every acre by securing a greater interest in oil and gas production.

“Natural gas prices remained under pressure during first quarter, principally due to mild temperatures and record inventory levels, resulting in lower demand for mineral leases in East Texas. Longer-term, we are more positive on the outlook for natural gas given the abundance of domestic supplies which reduces the potential impact from geopolitical risk. In addition, natural gas value is currently 80% less than crude oil on an energy equivalent basis.

“We continue to see improving housing fundamentals in Texas, due to a continued reduction in finished residential lot inventories and relatively stable market demand. In addition, we remain confident that underlying fundamental demand for single and multifamily housing will improve as markets generate positive job growth. In April 2012, we delivered the first units at our Promesa multifamily community in Austin, Texas, an important milestone in the execution of our multifamily initiatives.

“We are focused on recognizing and responsibly generating the greatest value from every acre and achieving our Triple in FOR strategic initiatives, reflecting our commitment to accelerate value realization, further strengthen our balance sheet, and increase financial flexibility. Since year-end 2011, we completed the sale of our interest in Palisades West for $32 million, generating a gain of $11.7 million. In April, Forestar/RPG Land Company LLC, a consolidated venture, sold approximately 800 acres near Dallas, Texas (Light Farms real estate project) for $56 million in total consideration, resulting in a gain of approximately $3.4 million. As a result of these two transactions, Forestar received $57 million in cash proceeds and reduced consolidated debt by $31 million, which positions us to take advantage of strategic growth and investment opportunities,” concluded Mr. DeCosmo.

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The Company will host a conference call on May 10, 2012 at 2:00 pm ET to discuss results of first quarter 2012. The meeting may be accessed through webcast or by conference call. The webcast may be accessed through Forestar’s Internet site at www.forestargroup.com. To access the conference call, listeners calling from North America should dial 1-866-510-0711 at least 15 minutes prior to the start of the meeting. Those wishing to access the call from outside North America should dial 1-617-597-5379. The password is Forestar. Replays of the call will be available for two weeks following the completion of the live call and can be accessed at 1-888-286-8010 in North America and at 1-617-801-6888 outside North America. The password for the replay is 14249248.

About Forestar Group

Forestar Group Inc. operates in three business segments: mineral resources, real estate and fiber resources. At the end of the first quarter 2012, the real estate segment owns directly or through ventures over 146,000 acres of real estate located in nine states and twelve markets in the U.S. The real estate segment has 16 real estate projects representing approximately 27,600 acres currently in the entitlement process, and 73 entitled, developed and under development projects in seven states and eleven markets encompassing over 16,000 acres, comprised of almost 27,000 residential lots and over 2,400 commercial acres. The mineral resources segment manages approximately 594,000 net acres of oil and gas mineral interests located principally in Texas, Louisiana, Alabama, and Georgia. Also included in the mineral resources segment is a 45% nonparticipating royalty interest in groundwater produced or withdrawn for commercial purposes from approximately 1.4 million acres in Texas, Louisiana, Georgia and Alabama and about 17,800 acres of groundwater leases in central Texas. The fiber resources segment includes the sale of wood fiber and management of our recreational leases. Forestar’s address on the World Wide Web is www.forestargroup.com.

Forward-looking Statements

This release contains “forward-looking statements” within the meaning of the federal securities laws. These statements reflect management’s current views with respect to future events and are subject to risk and uncertainties. We note that a variety of factors and uncertainties could cause our actual results to differ significantly from the results discussed in the forward-looking statements. Factors and uncertainties that might cause such differences include, but are not limited to: general economic, market, or business conditions; the opportunities (or lack thereof) that may be presented to us and that we may pursue; fluctuations in costs and expenses including development costs; demand for new housing, including impacts from mortgage credit availability; lengthy and uncertain entitlement processes; cyclicality of our businesses; accuracy of accounting assumptions; competitive actions by other companies; changes in laws or regulations; and other factors, many of which are beyond our control. Except as required by law, we expressly disclaim any obligation to publicly revise any forward-looking statements contained in this news release to reflect the occurrence of events after the date of this news release.

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FORESTAR GROUP INC.

(UNAUDITED)

Business Segments

|  | First Quarter |
|  | 2012 |  | 2011 |
|  | (In thousands, except per share) |
Revenues |  |  |  |  |
Real estate |  | $ | 17,922 |  | $ | 21,139 |
Mineral resources |  | 9,426 |  | 7,333 |
Fiber resources |  | 744 |  | 1,368 |
Total revenues |  | $ | 28,092 |  | $ | 29,840 |
Segment earnings |  |  |  |  |
Real estate |  | $ | 11,577 |  | $ | 2,575 |
Mineral resources |  | 5,875 |  | 5,598 |
Fiber resources |  | 390 |  | 640 |
Total segment earnings |  | 17,842 |  | 8,813 |
Items not allocated to segments: |  |  |  |  |
General and administrative expense |  | (4,362 | ) | (3,916 | )
Share-based compensation expense |  | (5,231 | ) | (4,100 | )
Interest expense |  | (3,891 | ) | (4,009 | )
Other non-operating income |  | 64 |  | 27 |
Income (loss) before taxes |  | 4,422 |  | (3,185 | )
Income tax (expense) benefit |  | (1,620 | ) | 712 |
Net income (loss) attributable to Forestar Group Inc. |  | $ | 2,802 |  | $ | (2,473 | )
Net income (loss) per common share: |  |  |  |  |
Basic |  | $ | 0.08 |  | $ | (0.07 | )
Diluted |  | $ | 0.08 |  | $ | (0.07 | )
Weighted average common shares outstanding: |  |  |  |  |
Basic |  | 34.9 |  | 35.4 |
Diluted |  | 35.2 |  | 35.4 |

|  | First Quarter |
Supplemental Financial Information: |  | 2012 |  | 2011 |
|  | (In thousands) |
Cash & Cash Equivalents |  | $ | 6,801 |  | $ | 5,608 |
Borrowings under credit facility |  | $ | 136,000 |  | $ | 136,000 |
Other debt (a) |  | 91,865 |  | 94,600 |
Total debt |  | $ | 227,865 |  | $ | 230,600 |

(a) Consists principally of consolidated venture non-recourse debt.

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FORESTAR GROUP INC.

MINERAL RESOURCES SEGMENT

PERFORMANCE METRICS

|  | First Quarter |
MINERAL RESOURCES |  | 2012 |  | 2011 |
Leasing Activity |  |  |  |  |
Acres Leased |  | 800 |  | 4,900 |
Average Bonus / Acre |  | $ | 360 |  | $ | 340 |
Delay Rental Payments |  | $ | 1,115,000 |  | $ | 156,000 |
Royalties(1) |  |  |  |  |
Oil Production (Barrels) |  | 69,200 |  | 32,000 |
Average Oil Price ($ / Barrel) |  | $ | 97.57 |  | $ | 82.49 |
Natural Gas Production (MMcf) |  | 452.2 |  | 466.8 |
Average Natural Gas Price ($ / Mcf) |  | $ | 3.23 |  | $ | 3.72 |
MMcfe Production(2) |  | 867.4 |  | 658.6 |
Average Price ($ / MMcfe) |  | $ | 9.47 |  | $ | 6.64 |
Well Activity(3) |  |  |  |  |
Net Acres Held By Production |  | 32,000 |  | 30,000 |
Wells Drilled |  | 4 |  | 2 |
Productive Wells |  | 534 |  | 496 |

(1) Includes our share of activity from a venture in which we own a 50% interest. Our share of venture natural gas production activity is 90 MMcf in first quarter 2012 and 159 MMcf in first quarter 2011.

(2) MMcfe - Million Cubic Feet Equivalent (converting oil to natural gas at 6 Mcfe / Bbl)

(3) Wells are operated by third-party lessees / operators

FIRST QUARTER 2012

MINERAL RESOURCES PIPELINE(1)

Forestar’s mineral resources segment includes approximately 594,000 net mineral acres principally located in Texas, Louisiana, Alabama and Georgia.

State |  | Available for Lease |  | Leased |  | Held by Production |  | Total (2) |
Texas |  | 195,000 |  | 30,000 |  | 27,000 |  | 252,000 |
Louisiana |  | 120,000 |  | 19,000 |  | 5,000 |  | 144,000 |
Georgia |  | 156,000 |  | — |  | — |  | 156,000 |
Alabama |  | 40,000 |  | — |  | — |  | 40,000 |
California |  | 1,000 |  | — |  | — |  | 1,000 |
Indiana |  | 1,000 |  | — |  | — |  | 1,000 |
Total |  | 513,000 |  | 49,000 |  | 32,000 |  | 594,000 |

(1) Includes ventures

(2) Excludes 477 net mineral acres located in Colorado

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FORESTAR GROUP INC.

REAL ESTATE SEGMENT

PERFORMANCE METRICS

|  | First Quarter |
REAL ESTATE |  | 2012 |  | 2011 |
Owned, Consolidated & Equity Method Ventures: |  |  |  |  |
Residential Lots Sold |  | 285 |  | 214 |
Revenue per Lot Sold |  | $ | 53,000 |  | $ | 48,200 |
Commercial Acres Sold |  | — |  | 20.0 |
Revenue per Commercial Acre Sold |  | — |  | $ | 152,500 |
Undeveloped Acres Sold |  | 455 |  | 2,630 |
Revenue per Acre Sold |  | $ | 2,400 |  | $ | 2,300 |
Owned & Consolidated Ventures: |  |  |  |  |
Residential Lots Sold |  | 137 |  | 145 |
Revenue per Lot Sold |  | $ | 62,000 |  | $ | 54,300 |
Commercial Acres Sold |  | — |  | — |
Revenue per Commercial Acre Sold |  | — |  | — |
Undeveloped Acres Sold |  | 320 |  | 2,630 |
Revenue per Acre Sold |  | $ | 2,300 |  | $ | 2,300 |
Ventures Accounted For Using the Equity Method: |  |  |  |  |
Residential Lots Sold |  | 148 |  | 69 |
Revenue per Lot Sold |  | $ | 44,600 |  | $ | 35,500 |
Commercial Acres Sold |  | — |  | 20.0 |
Revenue per Commercial Acre Sold |  | — |  | $ | 152,500 |
Undeveloped Acres Sold |  | 135 |  | — |
Revenue per Acre Sold |  | $ | 2,600 |  | — |

FIRST QUARTER 2012

REAL ESTATE PIPELINE

Real Estate |  | Undeveloped |  | In Entitlement Process |  | Entitled |  | Developed & Under Development |  | Total Acres* |
Undeveloped Land |  |  |  |  |  |  |  |  |  |  |
Owned |  | 95,360 |  |  |  |  |  |  |  | 102,261 |
Ventures |  | 6,901 |  |  |  |  |  |  |  |
Residential |  |  |  |  |  |  |  |  |  |  |
Owned |  |  |  | 24,867 |  | 9,669 |  | 734 |  | 38,811 |
Ventures |  |  |  |  |  | 3,240 |  | 301 |  |
Commercial |  |  |  |  |  |  |  |  |  |  |
Owned |  |  |  | 2,723 |  | 1,246 |  | 614 |  | 5,179 |
Ventures |  |  |  |  |  | 399 |  | 197 |  |
Total Acres |  | 102,261 |  | 27,590 |  | 14,554 |  | 1,846 |  | 146,251 |
Estimated Residential Lots |  |  |  |  |  | 24,108 |  | 2,815 |  | 26,923 |

* In addition, Forestar owns a 58% interest in a venture which controls approximately 16,000 acres of undeveloped land in Georgia with minimal investment. Excludes acres associated with fully developed commercial and income producing properties.

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FORESTAR GROUP INC.

FIBER RESOURCES SEGMENT

PERFORMANCE METRICS

|  | First Quarter |
FIBER RESOURCES |  | 2012 |  | 2011 |
Fiber Sales * |  |  |  |  |
Pulpwood Tons Sold |  | 24,400 |  | 65,600 |
Average Pulpwood Price / Ton |  | $ | 10.18 |  | $ | 9.18 |
Sawtimber Tons Sold |  | 4,400 |  | 15,500 |
Average Sawtimber Price / Ton |  | $ | 19.48 |  | $ | 16.98 |
Total Tons Sold |  | 28,800 |  | 81,100 |
Average Price / Ton |  | $ | 11.59 |  | $ | 10.67 |
Recreational Activity |  |  |  |  |
Average Acres Leased |  | 131,000 |  | 200,000 |
Average Lease Rate / Acre |  | $ | 8.80 |  | $ | 8.91 |

*The majority of our fiber sales were to International Paper at market prices.

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FORESTAR GROUP INC.

PROJECTS IN ENTITLEMENT

A summary of projects in the entitlement process (a) at first quarter-end 2012 follows:

|  |  |  | Project |
Project |  | County |  | Acres (b) |
California |  |  |  |  |
Hidden Creek Estates |  | Los Angeles |  | 700 |
Terrace at Hidden Hills |  | Los Angeles |  | 30 |
Georgia |  |  |  |  |
Ball Ground |  | Cherokee |  | 500 |
Crossing |  | Coweta |  | 230 |
Fincher Road |  | Cherokee |  | 3,890 |
Fox Hall |  | Coweta |  | 960 |
Garland Mountain |  | Cherokee/Bartow |  | 350 |
Home Place |  | Coweta |  | 1,510 |
Martin’s Bridge |  | Banks |  | 970 |
Mill Creek |  | Coweta |  | 770 |
Serenity |  | Carroll |  | 440 |
Waleska |  | Cherokee |  | 100 |
Wolf Creek |  | Carroll/Douglas |  | 12,230 |
Yellow Creek |  | Cherokee |  | 1,060 |
Texas |  |  |  |  |
Lake Houston |  | Harris/Liberty |  | 3,700 |
San Jacinto |  | Montgomery |  | 150 |
Total |  |  |  | 27,590 |

(a) A project is deemed to be in the entitlement process when customary steps necessary for the preparation of an application for governmental land-use approvals, like conducting pre-application meetings or similar discussions with governmental officials, have commenced, or an application has been filed. Projects listed may have significant steps remaining, and there is no assurance that entitlements ultimately will be received.

(b) Project acres, which are the total for the project regardless of our ownership interest, are approximate. The actual number of acres entitled may vary.

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FORESTAR GROUP INC.

REAL ESTATE PROJECTS

A summary of our entitled,(a) developed & under development projects at first quarter-end 2012 follows:

|  |  |  |  |  | Residential Lots (c) |  | Commercial Acres (d) |
Project |  | County |  | Interest Owned(b) |  | Lots Sold Since Inception |  | Lots Remaining |  | Acres Sold Since Inception |  | Acres Remaining (f) |
Projects we own |  |  |  |  |  |  |  |  |  |  |  |  |
California |  |  |  |  |  |  |  |  |  |  |  |  |
San Joaquin River |  | Contra Costa/ Sacramento |  | 100% |  | — |  | — |  | — |  | 288 |
Colorado |  |  |  |  |  |  |  |  |  |  |  |  |
Buffalo Highlands |  | Weld |  | 100% |  | — |  | 164 |  | — |  | — |
Johnstown Farms |  | Weld |  | 100% |  | 115 |  | 497 |  | 2 |  | 7 |
Pinery West |  | Douglas |  | 100% |  | — |  | — |  | — |  | 111 |
Stonebraker |  | Weld |  | 100% |  | — |  | 603 |  | — |  | — |
Texas |  |  |  |  |  |  |  |  |  |  |  |  |
Arrowhead Ranch |  | Hays |  | 100% |  | — |  | 259 |  | — |  | 6 |
Bar C Ranch |  | Tarrant |  | 100% |  | 291 |  | 908 |  | — |  | — |
Barrington Kingwood |  | Harris |  | 100% |  | 12 |  | 168 |  | — |  | — |
Cibolo Canyons |  | Bexar |  | 100% |  | 705 |  | 770 |  | 68 |  | 82 |
Harbor Lakes |  | Hood |  | 100% |  | 203 |  | 246 |  | 2 |  | 19 |
Hunter’s Crossing |  | Bastrop |  | 100% |  | 382 |  | 108 |  | 38 |  | 71 |
La Conterra |  | Williamson |  | 100% |  | 88 |  | 412 |  | — |  | 58 |
Maxwell Creek |  | Collin |  | 100% |  | 747 |  | 252 |  | 10 |  | — |
Oak Creek Estates |  | Comal |  | 100% |  | 113 |  | 534 |  | 13 |  | — |
Summer Creek Ranch |  | Tarrant |  | 100% |  | 807 |  | 467 |  | — |  | 79 |
Summer Lakes |  | Fort Bend |  | 100% |  | 418 |  | 712 |  | 56 |  | — |
The Colony |  | Bastrop |  | 100% |  | 428 |  | 721 |  | 22 |  | 31 |
The Preserve at Pecan Creek |  | Denton |  | 100% |  | 349 |  | 445 |  | — |  | 7 |
Village Park |  | Collin |  | 100% |  | 461 |  | 299 |  | 3 |  | 2 |
Waterford Park |  | Fort Bend |  | 100% |  | — |  | 210 |  | 10 |  | 80 |
Westside at Buttercup Creek |  | Williamson |  | 100% |  | 1,372 |  | 124 |  | 66 |  | — |
Other projects (11) |  | Various |  | 100% |  | 2,490 |  | 173 |  | 207 |  | 23 |
Georgia |  |  |  |  |  |  |  |  |  |  |  |  |
Seven Hills |  | Paulding |  | 100% |  | 645 |  | 442 |  | 26 |  | 113 |
Villages of Burt Creek |  | Dawson |  | 100% |  | — |  | 1,715 |  | — |  | 57 |
Towne West |  | Bartow |  | 100% |  | — |  | 2,674 |  | — |  | 121 |
Other projects (17) |  | Various |  | 100% |  | 1,712 |  | 2,987 |  | 3 |  | 705 |
Florida |  |  |  |  |  |  |  |  |  |  |  |  |
Other projects (3) |  | Various |  | 100% |  | 599 |  | 246 |  | — |  | — |
Missouri and Utah |  |  |  |  |  |  |  |  |  |  |  |  |
Other projects (2) |  | Various |  | 100% |  | 470 |  | 84 |  | — |  | — |
|  |  |  |  |  | 12,407 |  | 16,220 |  | 526 |  | 1,860 |
Projects in entities we consolidate |  |  |  |  |  |  |  |  |  |  |  |  |
Texas |  |  |  |  |  |  |  |  |  |  |  |  |
City Park |  | Harris |  | 75% |  | 1,185 |  | 126 |  | 50 |  | 115 |
Lantana |  | Denton |  | 55% (e) |  | 821 |  | 1,471 |  | — |  | — |
Light Farms |  | Collin |  | 65% (g) |  | — |  | 2,501 |  | — |  | — |
Stoney Creek |  | Dallas |  | 90% |  | 111 |  | 643 |  | — |  | — |
Timber Creek |  | Collin |  | 88% |  | — |  | 614 |  | — |  | — |
Other projects (3) |  | Various |  | Various |  | 6 |  | 203 |  | 16 |  | 148 |
Georgia |  |  |  |  |  |  |  |  |  |  |  |  |
The Georgian |  | Paulding |  | 75% |  | 289 |  | 1,052 |  | — |  | — |
|  |  |  |  |  | 2,412 |  | 6,610 |  | 66 |  | 263 |
Total owned and consolidated |  |  |  |  |  | 14,819 |  | 22,830 |  | 592 |  | 2,123 |
Projects in ventures that we account for using the equity method |  |  |  |  |  |  |  |  |  |  |  |  |
Texas |  |  |  |  |  |  |  |  |  |  |  |  |
Entrada |  | Travis |  | 50% |  | — |  | 821 |  | — |  | — |
Fannin Farms West |  | Tarrant |  | 50% |  | 323 |  | 58 |  | — |  | 12 |
Harper’s Preserve |  | Montgomery |  | 50% |  | 96 |  | 1,629 |  | — |  | 72 |
Lantana |  | Denton |  | Various (e) |  | 1,449 |  | 83 |  | 16 |  | 42 |
Long Meadow Farms |  | Fort Bend |  | 37% |  | 913 |  | 882 |  | 107 |  | 192 |
Southern Trails |  | Brazoria |  | 80% |  | 521 |  | 515 |  | — |  | — |
Stonewall Estates |  | Bexar |  | 50% |  | 286 |  | 105 |  | — |  | — |
Other projects (1) |  | Nueces |  | 50% |  | — |  | — |  | — |  | 15 |
Total in ventures |  |  |  |  |  | 3,588 |  | 4,093 |  | 123 |  | 333 |
Combined Total |  |  |  |  |  | 18,407 |  | 26,923 |  | 715 |  | 2,456 |

(a) A project is deemed entitled when all major discretionary governmental land-use approvals have been received. Some projects may require additional permits and/or non-governmental authorizations for development.

(b) Interest owned reflects our net equity interest in the project, whether owned directly or indirectly. There are some projects that have multiple ownership structures within them. Accordingly, portions of these projects may appear as owned, consolidated and/or accounted for using the equity method.

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(c) Lots are for the total project, regardless of our ownership interest. Lots remaining represent vacant developed lots, lots under development and future planned lots and are subject to change based on business plan revisions.

(d) Commercial acres are for the total project, regardless of our ownership interest and are net developable acres, which may be fewer than the gross acres available in the project.

(e) The Lantana project consists of a series of 24 partnerships in which our voting interests range from 25% to 55%. We account for three of these partnerships using the equity method and we consolidate the remaining partnerships.

(f) Excludes acres associated with commercial and income producing properties.

(g) In second quarter 2012, the consolidated venture sold 800 real estate acres, representing approximately 2,500 planned residential lots.

A summary of our significant commercial and income producing properties at first quarter-end 2012 follows:

|  |  |  |  |  | Interest |  |  |  |  |  |  |
Project |  | County |  | Market |  | Owned (a) |  | Type |  | Acres |  | Description |
Broadstone Memorial |  | Harris |  | Houston |  | 100 | % | Multifamily |  | 9 |  | 401 unit luxury apartment |
Radisson Hotel |  | Travis |  | Austin |  | 100 | % | Hotel |  | 2 |  | 413 guest rooms and suites |
Las Brisas |  | Williamson |  | Austin |  | 59 | % | Multifamily |  | 30 |  | 414 unit luxury apartment |
Promesa (b) |  | Travis |  | Austin |  | 100 | % | Multifamily |  | 16 |  | 289 unit luxury apartment (construction in progress) |

(a) Interest owned reflects our total equity interest in the project, whether owned directly or indirectly.

(b) Formerly marketed as Ridge at Ribelin Ranch.

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