Note 4 - Real Estate Under Development

3 Months Ended

Mar. 31, 2019

Notes to Financial Statements

Real Estate Under Development [Text Block]

4.

Real Estate Under

Development

The Company is engaged in various real estate development projects for long-term investment. The costs incurred to date for these real estate development projects are as follows (in thousands):

Property Name	Location	March 31 , 201 9		December 31, 2018
Dania Pointe – Phases II, III and IV	Dania Beach, FL	$	180,216	$	152,111
Mill Station	Owings Mills, MD		62,187		55,771
Promenade at Christiana (1)	New Castle, DE		33,511		33,502
Total *		$	275,914	$	241,384

* Includes capitalized costs of interest, real estate taxes, insurance, legal costs and payroll of

$27.6

million and

$24.9

million, as of

March 31, 2019

and

December 31, 2018,

respectively.

( 1 ) Project to be developed in the future.

During the

three

months ended

March 31, 2019,

the Company capitalized (i) interest of

$1.9

million, (ii) real estate taxes, insurance and legal costs of

$0.3

million, and (iii) payroll of

$0.5

million in connection with these real estate development projects.