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Consolidated Statements of Cash Flows (Unaudited) - USD ($)
$ in Thousands
 9 Months Ended
Sep. 30, 2025
Sep. 30, 2024
Cash flow from operating activities:    
Net loss $ (14,059) $ (495)
Adjustments to reconcile net loss to net cash used in operating activities:    
Depreciation and amortization 4,842 4,168
Cost of real estate sold 5,790 19,115
Loss on interest rate cap agreements 23 0
Loss on extinguishment of debt 216 59
Stock-based compensation 970 1,314
Debt issuance cost amortization 1,065 1,028
Gain on sale of assets (5,200) (1,626)
Purchases and development of real estate properties (20,543) (22,925)
Noncash Project Abandonment Costs 2,869 721
Decrease in other assets 2,220 233
Decrease in accounts payable, accrued liabilities and other (2,333) (3,994)
Net cash used in operating activities (24,140) (2,402)
Cash flow from investing activities:    
Capital expenditures (8,075) (22,962)
Proceeds from sale of assets, net of selling costs 12,979 8,586
Municipal utility district (MUD) reimbursements 409 0
Payments on master lease obligations (668) (649)
Net cash provided by (used in) investing activities 4,645 (15,025)
Cash flow from financing activities:    
Borrowings from credit facility 4,000 0
Payments on credit facility (4,000) 0
Borrowings from project and term loans 64,084 27,672
Payments on project and term loans (56,075) (25,058)
Payment of dividends (246) (356)
Finance lease principal payments (13) (12)
Stock-based awards net payments (336) (376)
Noncontrolling interest distributions (856) 0
Noncontrolling interest contributions 50,755 3,600
Purchases of treasury stock (1,973) 0
Financing costs (1,476) (139)
Net cash provided by financing activities 53,864 5,331
Net increase (decrease) in cash, cash equivalents and restricted cash 34,369 (12,096)
Cash, cash equivalents and restricted cash at beginning of year 21,154 32,432
Cash, cash equivalents and restricted cash at end of period $ 55,523 $ 20,336