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Commitments and Contingencies (Tables)
 12 Months Ended
Dec. 31, 2023
Commitments and Contingencies Disclosure [Abstract]  
Summary of Real Estate Development Commitments The following table summarizes the gross remaining total project costs for the Company’s projects under development at December 31, 2023 (total project costs remaining in thousands):

 

 

 

Projects

 

 

Apartment Units

 

 

Total Project Costs Remaining (1)

 

Projects Under Development

 

 

 

 

 

 

 

 

 

Consolidated

 

 

1

 

 

 

225

 

 

$

74,585

 

Unconsolidated

 

 

6

 

 

 

1,982

 

 

 

144,928

 

Total Projects Under Development

 

 

7

 

 

 

2,207

 

 

$

219,513

 

 

(1)
The Company's share of the $219.5 million in total project costs remaining approximates $76.6 million, with the balance funded by the Company's joint venture partners (approximately $0.7 million) and/or applicable construction loans (approximately $142.2 million).
Schedule of Contractual Obligations

The following table summarizes the Company’s contractual obligations for deferred compensation for the next five years and thereafter as of December 31, 2023:

 

 

 

(Payments) Due by Year (in thousands)

 

 

 

2024

 

 

2025

 

 

2026

 

 

2027

 

 

2028

 

 

Thereafter

 

 

Total

 

Other Long-Term Liabilities:

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Deferred Compensation (1)

 

$

(840

)

 

$

(840

)

 

$

(840

)

 

$

(840

)

 

$

(840

)

 

$

(3,778

)

 

$

(7,978

)

 

(1)
Includes payments due to the estate of the Company’s former Chairman. As of December 31, 2023, no payments remain due to the Company's former executive officer.