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Land and Development
 3 Months Ended
Mar. 31, 2020
Land And Development [Abstract]  
Land and Development Land and Development

The Company's land and development assets were comprised of the following ($ in thousands):
 
As of
 
March 31,
 
December 31,
 
2020
 
2019
Land and land development, at cost
$
523,893

 
$
590,153

Less: accumulated depreciation
(9,829
)
 
(9,608
)
Total land and development, net
$
514,064

 
$
580,545



Dispositions—During the three months ended March 31, 2020 and 2019, the Company sold land parcels and residential lots and units and recognized land development revenue of $80.2 million and $12.7 million, respectively. During the three months
ended March 31, 2020 and 2019, the Company recognized land development cost of sales of $77.1 million and $14.4 million, respectively, from its land and development portfolio.