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Segment Reporting - Schedule of Revenues and Profit (Loss) (Details) - USD ($)
$ in Thousands
 3 Months Ended 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Sep. 30, 2025
Sep. 30, 2024
Segment Reporting Information [Line Items]        
Revenues $ 13,488 $ 17,013 $ 34,118 $ 78,140
Less:        
Selling, general, and administrative 14,294 11,911 44,645 37,013
Other segment items (61,975) (11,489) (146,249) (34,985)
NET INCOME 55,714 12,335 124,876 56,645
Other segment disclosures:        
Depreciation and amortization 1,208 2,281 3,064 13,994
Interest income 4,484 2,595 13,501 8,575
Expenditures for long-lived assets, net 47,756 47,993 150,371 127,233
Income tax (provision) benefit (9,199) (1,886) (20,062) (8,705)
Land sales        
Less:        
Cost and expenses 0 0 0 0
Land sales | Related Party        
Segment Reporting Information [Line Items]        
Revenues 0 0 0 0
Management services        
Less:        
Cost and expenses 5,455 4,256 10,846 19,467
Management services | Related Party        
Segment Reporting Information [Line Items]        
Revenues 12,826 16,030 32,336 75,035
Less:        
Cost and expenses 0 0 0 0
Valencia        
Segment Reporting Information [Line Items]        
Revenues 486 812 1,260 2,598
San Francisco        
Segment Reporting Information [Line Items]        
Revenues 176 171 522 507
Great Park        
Segment Reporting Information [Line Items]        
Revenues 9,432 15,915 28,942 74,679
Operating Segments | Total Operating Segments        
Segment Reporting Information [Line Items]        
Revenues 286,560 78,410 664,835 371,377
Less:        
Selling, general, and administrative 5,918 6,783 19,236 20,485
Other segment items (676) (935) (2,056) (1,555)
NET INCOME 204,842 41,428 463,939 174,496
Other segment disclosures:        
Depreciation and amortization 1,152 2,218 2,884 13,760
Interest income 2,125 1,931 5,544 5,113
Expenditures for long-lived assets, net 74,726 68,670 213,304 119,709
Operating Segments | Total Operating Segments | Land sales        
Less:        
Cost and expenses 64,883 8,088 151,121 67,062
Operating Segments | Total Operating Segments | Management services        
Less:        
Cost and expenses 5,455 4,256 10,846 19,467
Operating Segments | Total Operating Segments | Management services | Related Party        
Less:        
Cost and expenses 6,138 18,790 21,749 91,422
Operating Segments | Valencia        
Segment Reporting Information [Line Items]        
Revenues 486 812 1,260 2,598
Less:        
Selling, general, and administrative 2,230 2,407 8,629 8,116
Other segment items 1,623 996 3,662 3,558
NET INCOME (3,367) (2,591) (11,031) (9,076)
Other segment disclosures:        
Depreciation and amortization 13 25 38 25
Interest income 0 0 0 0
Expenditures for long-lived assets, net 33,174 31,150 103,566 80,859
Inventory cost reimbursements   200 1,800 400
Operating Segments | Valencia | Land sales        
Less:        
Cost and expenses 0 0 0 0
Operating Segments | Valencia | Management services        
Less:        
Cost and expenses 0 0 0 0
Operating Segments | Valencia | Management services | Related Party        
Less:        
Cost and expenses 0 0 0 0
Operating Segments | San Francisco        
Segment Reporting Information [Line Items]        
Revenues 176 171 522 507
Less:        
Selling, general, and administrative 1,156 1,232 3,534 3,661
Other segment items (3) (19) (20) (51)
NET INCOME (977) (1,042) (2,992) (3,103)
Other segment disclosures:        
Depreciation and amortization 0 0 0 0
Interest income 3 19 20 51
Expenditures for long-lived assets, net 14,582 16,843 46,805 46,374
Inventory cost reimbursements 500 500 1,100 1,100
Operating Segments | San Francisco | Land sales        
Less:        
Cost and expenses 0 0 0 0
Operating Segments | San Francisco | Management services        
Less:        
Cost and expenses 0 0 0 0
Operating Segments | San Francisco | Management services | Related Party        
Less:        
Cost and expenses 0 0 0 0
Operating Segments | Great Park        
Segment Reporting Information [Line Items]        
Revenues 282,504 77,427 659,659 368,272
Less:        
Selling, general, and administrative 2,532 3,144 7,073 8,708
Other segment items (2,115) (1,912) (5,517) (5,062)
NET INCOME 208,352 45,061 477,128 186,675
Other segment disclosures:        
Depreciation and amortization 813 2,193 2,520 13,735
Interest income 2,115 1,912 5,517 5,062
Expenditures for long-lived assets, net 26,970 20,677 62,933 (7,524)
Inventory cost reimbursements 8,700 14,600 37,700 156,800
Operating Segments | Great Park | Land sales        
Less:        
Cost and expenses 64,883 8,088 151,121 67,062
Operating Segments | Great Park | Management services        
Less:        
Cost and expenses 2,714 4,256 8,105 19,467
Operating Segments | Great Park | Management services | Related Party        
Less:        
Cost and expenses 6,138 18,790 21,749 91,422
Operating Segments | Hearthstone        
Segment Reporting Information [Line Items]        
Revenues 3,394   3,394  
Less:        
Selling, general, and administrative 0   0  
Other segment items (181)   (181)  
NET INCOME 834   834  
Other segment disclosures:        
Depreciation and amortization 326   326  
Interest income 7   7  
Expenditures for long-lived assets, net 0   0  
Operating Segments | Hearthstone | Land sales        
Less:        
Cost and expenses 0   0  
Operating Segments | Hearthstone | Management services        
Less:        
Cost and expenses 2,741   2,741  
Operating Segments | Hearthstone | Management services | Related Party        
Less:        
Cost and expenses 0   0  
Segment Reconciling Items        
Segment Reporting Information [Line Items]        
Revenues   115   356
Segment Reconciling Items | Great Park        
Segment Reporting Information [Line Items]        
Revenues (273,072) (61,512) (630,717) (293,593)
Less:        
Selling, general, and administrative (2,532) (3,144) (7,073) (8,708)
Other segment items 2,115 1,912 5,517 5,062
NET INCOME (201,634) (33,402) (456,291) (131,463)
Other segment disclosures:        
Depreciation and amortization 0 0 0 0
Interest income (2,115) (1,912) (5,517) (5,062)
Expenditures for long-lived assets, net (26,970) (20,677) (62,933) 7,524
Segment Reconciling Items | Great Park | Land sales        
Less:        
Cost and expenses (64,883) (8,088) (151,121) (67,062)
Segment Reconciling Items | Great Park | Management services        
Less:        
Cost and expenses 0 0 0 0
Segment Reconciling Items | Great Park | Management services | Related Party        
Less:        
Cost and expenses (6,138) (18,790) (21,749) (91,422)
Segment Reconciling Items | Great Park Segment        
Less:        
Other segment items (69,548) (12,088) (157,094) (45,218)
NET INCOME 69,548 12,088 157,094 45,218
Corporate and unallocated        
Segment Reporting Information [Line Items]        
Revenues 0 115 0 356
Less:        
Selling, general, and administrative 10,908 8,272 32,482 25,236
Other segment items 6,134 (378) 7,384 6,726
NET INCOME (17,042) (7,779) (39,866) (31,606)
Other segment disclosures:        
Depreciation and amortization 56 63 180 234
Interest income 4,474 2,576 13,474 8,524
Expenditures for long-lived assets, net 0 0 0 0
Corporate and unallocated | Land sales        
Less:        
Cost and expenses 0 0 0 0
Corporate and unallocated | Management services        
Less:        
Cost and expenses 0 0 0 0
Corporate and unallocated | Management services | Related Party        
Less:        
Cost and expenses $ 0 $ 0 $ 0 $ 0