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Real Estate, net | 12 Months Ended
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Dec. 31, 2024
Real Estate, net [Abstract] |
Real Estate Disclosure [Text Block] | REAL ESTATE, NET Stratus’ consolidated balance sheets include the following net real estate assets (in thousands):
| December 31,
| 2024 |  | 2023
Real estate held for sale: |  |  |
Developed lots and completed homes | $ | 11,211 |  |  | $ | 7,382 |
Real estate under development: |  |  |
Acreage, multi-family units, commercial square footage and homes | 274,105 |  |  | 260,642 |
Land available for development: |  |  |
Undeveloped acreage | 65,009 |  |  | 47,451 |
Real estate held for investment: |  |  |
The Saint June | 50,974 |  |  | 50,827 |
Kingwood Place | 37,426 |  |  | 37,166 |
Lantana Place | 33,873 |  |  | 31,001 |
Jones Crossing | 25,278 |  |  | 25,008 |
West Killeen Market | 9,483 |  |  | 10,063 |
Magnolia Place | — |  |  | 6,740 |
Furniture, fixtures and equipment | 764 |  |  | 727 |
Total | 157,798 |  |  | 161,532 |
Accumulated depreciation | (21,546) |  |  | (17,420) |
Total real estate held for investment, net | 136,252 |  |  | 144,112 |
Total real estate, net | $ | 486,577 |  |  | $ | 459,587 |
Real estate held for sale. Real estate held for sale includes developed lots and completed homes. Developed lots include individual tracts of land that have been developed and permitted for residential use. As of December 31, 2024, Stratus owned one developed lot and three completed Amarra Villas homes. Real estate under development. Acreage under development includes real estate for which infrastructure work over the entire property has been completed, is currently being completed or is able to be completed and for which necessary permits have been obtained. Real estate under development also includes commercial and residential properties under construction. Stratus’ real estate under development as of December 31, 2024 increased from December 31, 2023, primarily as a result of the development costs for The Saint George and Barton Creek properties, particularly Holden Hills Phase 1 and Amarra Villas. In November 2017, the City of Magnolia and the state of Texas approved the creation of a municipal utility district (MUD) which provides an opportunity for Stratus to recoup certain road and utility infrastructure costs incurred in connection with the development of Magnolia Place. Real estate under development as of December 31, 2024, includes approximately $12 million of costs eligible for reimbursement by the Magnolia MUD. Land available for development. Undeveloped acreage includes real estate that can be sold “as is” (i.e., planning, infrastructure or development work is not currently in progress on such property). Stratus’ undeveloped acreage as of December 31, 2024 included land permitted for residential and commercial development and vacant pad sites at Jones Crossing and Kingwood Place. Real estate held for investment. The Saint June is a luxury garden-style multi-family project consisting of 182 units. The Kingwood Place project includes 151,877 square-feet of retail space anchored by an H-E-B grocery store and leased pad sites. The Lantana Place project includes 99,377 square feet and a pad site ground-leased to a hotel for the retail phase of a mixed-use project. The Jones Crossing project includes 154,092 square-feet and leased pad sites for the first phase of the retail component of an H-E-B-anchored, mixed-use development. The West Killeen Market project includes 44,493 square-feet of retail space adjacent to a 90,000 square-foot H-E-B grocery store. Capitalized interest. Stratus recorded capitalized interest of $15.7 million in 2024 and $12.5 million in 2023.

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- Definition The entire disclosure for certain real estate investment financial statements, real estate investment trust operating support agreements, real estate owned, retail land sales, time share transactions, as well as other real estate related disclosures. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 974 -SubTopic 720 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Publisher FASB -URI https://asc.fasb.org/1943274/2147477728/974-720-50-1 Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 976 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/976/tableOfContent Reference 3: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 978 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/978/tableOfContent Reference 4: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 970 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/970/tableOfContent Reference 5: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 972 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/972/tableOfContent Reference 6: http://fasb.org/us-gaap/role/ref/legacyRef -Topic 974 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/974/tableOfContent + Details
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