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Document and Entity Information Document - shares	6 Months Ended
Document and Entity Information Document - shares	Jun. 30, 2018	Jul. 31, 2018
Document and Entity Information [Abstract]
Entity Registrant Name	Stratus Properties Inc.
Entity Central Index Key	0000885508
Current Fiscal Year End Date	--12-31
Entity Filer Category	Accelerated Filer
Document Type	10-Q
Document Period End Date	Jun. 30, 2018
Document Fiscal Year Focus	2018
Document Fiscal Period Focus	Q2
Amendment Flag	false
Entity Common Stock, Shares Outstanding		8,153,370
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes

Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
ASSETS
Cash and cash equivalents	$ 12,660	$ 14,611
Restricted cash	24,637	24,779
Real estate held for sale	19,677	22,612
Real estate under development	140,210	118,484
Land available for development	15,428	14,804
Real estate held for investment, net	210,425	188,390
Deferred tax assets	12,114	11,461
Other assets	13,537	10,852
Total assets	448,688	405,993
LIABILITIES AND EQUITY
Accounts payable	22,195	22,809
Accrued liabilities, including taxes	7,834	13,429
Debt	265,872	221,470
Deferred Gain on Sale of Property	10,480	11,320
Other liabilities	10,485	9,575
Total liabilities	316,866	278,603
Commitments and contingencies
Stockholders’ equity:
Common stock	93	93
Capital in excess of par value of common stock	185,757	185,395
Accumulated deficit	(39,848)	(37,121)
Common stock held in treasury	(21,260)	(21,057)
Total stockholders’ equity	124,742	127,310
Noncontrolling interests in subsidiaries	7,080	80
Total equity	131,822	127,390
Total liabilities and equity	$ 448,688	$ 405,993

Consolidated Statements of Income (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenues:
Real estate operations	$ 6,979	$ 4,021	$ 8,173	$ 6,185
Leasing operations	2,331	1,811	4,335	4,092
Hotel	9,593	9,765	18,915	20,079
Entertainment	4,407	5,832	9,652	11,737
Total revenues	23,310	21,429	41,075	42,093
Cost of sales:
Real estate operations	5,560	3,868	7,126	5,844
Leasing operations	1,323	973	2,505	2,658
Hotel	7,149	7,436	14,178	14,601
Entertainment	3,436	4,255	7,404	8,632
Depreciation	2,053	1,756	3,995	3,897
Total cost of sales	19,521	18,288	35,208	35,632
General and administrative expenses	3,015	2,846	5,996	6,242
Profit participation in sale of The Oaks at Lakeway	0	0	0	2,538
Gain on Disposition of Assets	0	0	0	(1,115)
Total	22,536	21,134	41,204	43,297
Operating income (loss)	774	295	(129)	(1,204)
Interest expense, net	(1,742)	(1,508)	(3,301)	(3,483)
Gain (loss) on interest rate derivative instruments	80	(4)	258	82
Loss on early extinguishment of debt	0	0	0	(532)
Other income, net	11	13	22	18
Loss before income taxes and equity in unconsolidated affiliates' loss	(877)	(1,204)	(3,150)	(5,119)
Equity in unconsolidated affiliates' loss	(3)	(2)	(6)	(19)
Benefit from income taxes	23	321	429	1,583
Net loss and total comprehensive loss	(857)	(885)	(2,727)	(3,555)
Total comprehensive income attributable to noncontrolling interests in subsidiaries	0	(8)	0	(8)
Net loss and total comprehensive loss attributable to common stockholders	$ (857)	$ (893)	$ (2,727)	$ (3,563)
Earnings Per Share, Basic and Diluted	$ (0.11)	$ (0.11)	$ (0.33)	$ (0.44)
Weighted Average Number of Shares Outstanding, Basic and Diluted	8,153	8,127	8,145	8,114
Common Stock, Dividends, Per Share, Declared	$ 0.00	$ 0.00	$ 0.00	$ 1.00

Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
Cash flow from operating activities:
Net loss	$ (2,727)	$ (3,555)
Adjustments to reconcile net loss to net cash used in operating activities:
Depreciation	3,995	3,897
Cost of real estate sold	5,053	3,897
Gain on sale of assets	0	(1,115)
Gain on interest rate derivative contracts	(258)	(82)
Loss on early extinguishment of debt	0	532
Debt issuance cost and share based compensation	791	647
Equity in unconsolidated affiliates' loss	6	19
Increase (decrease) in deposits	588	(851)
Deferred income taxes	(653)	(12,607)
Purchases and development of real estate properties	(7,699)	(7,974)
Municipal utility district reimbursement	0	2,172
(Increase) decrease in other assets	(2,297)	910
Decrease in accounts payable, accrued liabilities and other	(5,505)	(895)
Net cash used in operating activities	(8,706)	(15,005)
Cash flow from investing activities:
Capital expenditures	(42,982)	(5,100)
Proceeds from sale of assets	0	117,261
Payments on master lease obligations	(932)	(927)
Payments for (Proceeds from) Other Investing Activities	(87)	(48)
Net cash (used in) provided by investing activities	(44,001)	111,186
Cash flow from financing activities:
Borrowings from credit facility	22,336	20,200
Payments on credit facility	(4,225)	(51,775)
Borrowings from project loans	29,948	7,766
Payments on project and term loans	(3,266)	(63,723)
Payments of Dividends	0	8,127
Stock-based awards net payments	(203)	(234)
Proceeds from (Payments to) Noncontrolling Interests	7,000	0
Payments of Financing Costs	976	375
Net cash provided by (used in) financing activities	50,614	(96,268)
Net decrease in cash, cash equivalents and restricted cash	(2,093)	(87)
Cash, cash equivalents and restricted cash at beginning of year	39,390	25,489
Cash, cash equivalents and restricted cash at end of period	$ 37,297	$ 25,402

Consolidated Statements of Equity (Unaudited) - USD ($) shares in Thousands, $ in Thousands	Total	Total Stratus Stockholders' Equity [Member]	Common Stock [Member]	Capital in Excess of Par Value [Member]	Accumulated Deficit [Member]	Common Stock Held in Treasury [Member]	Noncontrolling Interests in Subsidiaries [Member]
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	$ (3,555)	$ (3,563)			$ (3,563)		$ 8
Balance at Dec. 31, 2016	131,026	130,951	$ 92	$ 192,762	(41,143)	$ (20,760)	75
Balance (in shares) at Dec. 31, 2016			9,203			1,105
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Dividends, Common Stock, Cash	(8,127)	(8,127)		(8,127)
Exercised and issued stock-based awards	63	63	$ 1	62
Exercised and issued stock-based awards (in shares)			40
Stock-based compensation	383	383		383
Tender of shares for stock-based awards	(297)	(297)				$ (297)
Tender of shares for stock-based awards (in shares)						12
Balance at Jun. 30, 2017	119,636	119,553	$ 93	185,080	(44,563)	$ (21,057)	83
Balance (in shares) at Jun. 30, 2017			9,243			1,117
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adjustment for Cumulative Effect of Change in Accounting for Stock-Based Compensation	143	143			143
Net Income (Loss), Including Portion Attributable to Noncontrolling Interest	(2,727)	(2,727)			(2,727)		0
Balance at Dec. 31, 2017	127,390	127,310	$ 93	185,395	(37,121)	$ (21,057)	80
Balance (in shares) at Dec. 31, 2017			9,250			1,117
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exercised and issued stock-based awards	0	0	$ 0	0
Exercised and issued stock-based awards (in shares)			27
Stock-based compensation	362	362		362
Tender of shares for stock-based awards	(203)	(203)				$ (203)
Tender of shares for stock-based awards (in shares)						7
Noncontrolling Interest, Increase from Subsidiary Equity Issuance	7,000						7,000
Balance at Jun. 30, 2018	$ 131,822	$ 124,742	$ 93	$ 185,757	$ (39,848)	$ (21,260)	$ 7,080
Balance (in shares) at Jun. 30, 2018			9,277			1,124

General Information (Unaudited)	6 Months Ended
General Information (Unaudited)	Jun. 30, 2018
General Information [Abstract]
General Information [Text Block]	GENERAL The accompanying unaudited consolidated financial statements should be read in conjunction with the consolidated financial statements and notes thereto for the year ended December 31, 2017, included in Stratus Properties Inc.’s (Stratus) Annual Report on Form 10-K (Stratus 2017 Form 10-K) filed with the United States (U.S.) Securities and Exchange Commission. The information furnished herein reflects all adjustments that are, in the opinion of management, necessary for a fair statement of the results for the interim periods reported. With the exception of the accounting for the deferred gain on the 2017 sale of The Oaks at Lakeway, all such adjustments are, in the opinion of management, of a normal recurring nature. Operating results for the six-month period ended June 30, 2018, are not necessarily indicative of the results that may be expected for the year ending December 31, 2018.

Earnings Per Share (Unaudited)	6 Months Ended
Earnings Per Share (Unaudited)	Jun. 30, 2018
Earnings Per Share [Abstract]
Earnings Per Share [Text Block]	EARNINGS PER SHARE Stratus’ net loss per share of common stock was calculated by dividing the net loss attributable to common stockholders by the weighted-average shares of common stock outstanding during the period. The weighted-average shares exclude approximately 85 thousand shares of common stock for second-quarter 2018, 102 thousand shares for second-quarter 2017, 96 thousand shares for the first six months of 2018 and 115 thousand shares for the first six months of 2017 associated with restricted stock units and outstanding stock options that were anti-dilutive because of the net losses.

Related Party Transaction (Notes)

6 Months Ended

Jun. 30, 2018

RELATED PARTY TRANSACTIONS

The Saint Mary, L.P.

On June 19, 2018, The Saint Mary, L.P., a Texas limited partnership and a subsidiary of Stratus, completed a series of financing transactions to develop The Saint Mary, a 240-unit luxury, garden-style apartment project in the Circle C community in Austin, Texas. The financing transactions included (1) a $26 million construction loan with Texas Capital Bank, National Association (see Note 6 for further discussion) and (2) an $8.0 million private placement. The Saint Mary, L.P. issued, in a private placement exempt from registration under federal and state securities laws, Class B limited partnership interests to a limited number of investors (the Saint Mary Class B limited partners), for $8.0 million (the Saint Mary Offering) resulting in the Saint Mary Class B limited partners owning an aggregate of 49.1 percent equity interest in The Saint Mary, L.P.

In accordance with the terms of the Saint Mary Offering, Circle C Land, L.P., a Texas limited partnership and a subsidiary of Stratus and the sole Class A limited partner of The Saint Mary, L.P. (Circle C) purchased Class B limited partnership interests representing a 6.1 percent equity interest in The Saint Mary, L.P. for $1.0 million. Upon completion of the Saint Mary Offering, Stratus holds, in aggregate, a 57 percent indirect equity interest in The Saint Mary, L.P. Additionally, among the participants in the Saint Mary Offering, LCHM Holdings, LLC, a related party as a result of its greater than 5 percent beneficial ownership of Stratus’ common stock (LCHM), purchased Saint Mary Class B limited partnership interests representing a 6.1 percent equity interest in The Saint Mary, L.P. for $1.0 million.

In connection with the Saint Mary Offering, The Saint Mary GP, L.L.C., a Texas limited liability company (the Saint Mary General Partner) and a subsidiary of Stratus, Circle C, and the Saint Mary Class B limited partners entered into an Amended and Restated Limited Partnership Agreement (the Saint Mary Partnership Agreement) effective as of June 18, 2018. The Saint Mary Partnership Agreement includes the following key provisions:


•	The Saint Mary, L.P. will be managed by the Saint Mary General Partner, and The Saint Mary, L.P. will pay the Saint Mary General Partner, or another affiliate of Stratus, an asset management fee of $210,000 per year beginning one year after construction of The Saint Mary begins.


•	The Saint Mary, L.P. will pay the Saint Mary General Partner, or another affiliate of Stratus, a development management fee of approximately $1.4 million for the overall coordination and management of the development and construction of The Saint Mary.


•	Circle C contributed an approximate 14.35 acre tract of land upon which The Saint Mary will be developed and constructed and $0.7 million of cash.


•	The partners are entitled to preferred returns, which change after certain returns are achieved as specified in the Saint Mary Partnership Agreement.

Stratus has performed evaluations and concluded that The Saint Mary, L.P. is a variable interest entity and that Stratus is the primary beneficiary. Stratus will continue to evaluate which entity is the primary beneficiary of The Saint Mary, L.P. in accordance with applicable accounting guidance. As of June 30, 2018, Stratus’ consolidated balance sheet includes the following assets and liabilities of The Saint Mary, L.P. (in thousands):



	June 30, 2018
Assets:
Restricted cash	$	8,670
Real estate held under development	3,130
Other assets	400
Total assets	$	12,200
Liabilities:
Accounts payable	$	521
Total liabilities	521
Net assets	$	11,679

Stratus Kingwood Place, L.P.

On August 3, 2018, Stratus Kingwood Place, L.P., a Texas limited partnership and a subsidiary of Stratus (the Kingwood, L.P.), completed a $10.7 million private placement, approximately $7 million of which, combined with a $6.75 million loan from Comerica Bank, was used to purchase a 54-acre tract of land located in Kingwood, Texas, for the development, subject to obtaining a construction loan and building permits, of Kingwood Place, a new H-E-B, L.P. (HEB)-anchored mixed-use development project (Kingwood Place). The development plan for Kingwood Place includes a 103,000-square-foot HEB store, 41,000 square feet of retail space, 6 retail pads, and an 11-acre parcel planned for approximately 300 multi-family units. The Kingwood, L.P. issued, in a private placement exempt from registration under federal and state securities laws, Class B limited partnership interests to a limited number of investors (the Kingwood Class B limited partners), for $10.7 million (the Kingwood Offering), representing approximately 70 percent of the projected partnership equity. Among the participants in the Kingwood Offering, LCHM purchased Kingwood Class B limited partnership interests initially representing a 8.8 percent equity interest in the Kingwood, L.P. for $1.0 million.

In connection with the Kingwood Offering, Stratus Northpark, L.L.C., a Texas limited liability company, a subsidiary of Stratus and the general partner of the Kingwood, L.P. (the Kingwood General Partner), Stratus Properties Operating Co., L.P., a Delaware limited partnership, also a subsidiary of Stratus (the Class A limited partner), and the Kingwood Class B limited partners entered into an Amended and Restated Limited Partnership Agreement (the Kingwood Partnership Agreement) effective as of August 3, 2018. The Kingwood Partnership Agreement includes the following key provisions:


•	The Kingwood, L.P. will be managed by the Kingwood General Partner, and the Kingwood, L.P. will pay the Kingwood General Partner, or another affiliate of Stratus, an asset management fee of $283,000 per year beginning one year after construction of Kingwood Place begins.


•	The Kingwood, L.P. will pay the Kingwood General Partner, or another affiliate of Stratus, a development management fee equal to four percent of the construction costs for Kingwood Place for the overall coordination and management of the development and construction of Kingwood Place.


•	The partners are entitled to preferred returns, which change after certain returns are achieved as specified in the Kingwood Partnership Agreement.

Dispositions (Notes)	6 Months Ended
Dispositions (Notes)	Jun. 30, 2018
Discontinued Operations and Disposal Groups [Abstract]
Disposal Groups, Including Discontinued Operations, Disclosure [Text Block]	DISPOSITIONS The Oaks at Lakeway. On February 15, 2017, Stratus sold The Oaks at Lakeway to FHF I Oaks at Lakeway, LLC for $114.0 million in cash. Net cash proceeds were $50.8 million after repayment of the Lakeway construction loan. Stratus used a portion of these net cash proceeds to pay indebtedness outstanding under the Comerica Bank credit facility. The parties entered into three master lease agreements at closing: (1) one covering unleased in-line retail space, with a 5-year term, (2) one covering four unleased pad sites, three of which have 10-year terms, and one of which has a 15-year term, and (3) one covering the hotel pad with a 99-year term. As specified conditions are met, primarily consisting of the tenant executing a lease, commencing payment of rent and taking occupancy, leases will be assigned to the purchaser and the corresponding property will be removed from the master lease, reducing Stratus' master lease payment obligations. Stratus' master lease payment obligation, which currently approximates $180 thousand per month, is expected to decline over time until leasing is complete and all leases are assigned to the purchaser. Stratus agreed to guarantee the obligations of its selling subsidiary under the sales agreement, up to a liability cap of two percent of the purchase price. This cap does not apply to Stratus' obligation to satisfy the selling subsidiary's indemnity obligations for its broker commissions or similar compensation or Stratus' liability in guaranteeing the selling subsidiary's obligations under the master leases. To secure its obligations under the master leases, Stratus has provided a $1.5 million irrevocable letter of credit with a three-year term. At the date of sale, Stratus allocated the purchase price for The Oaks at Lakeway between two performance obligations based on the relative fair values of each. The first performance obligation, to deliver the completed and leased portion of the property, was performed on the date of sale. The second performance obligation was to complete construction of the remaining buildings and leasing of the vacant space. The obligations under master leases were considered variable consideration and are recorded as reductions to the contract liability. The hotel pad was leased to a hotel operator under a ground lease at the date of sale. However, the hotel tenant had not commenced rent payments or construction of the hotel. At the date of the sale, primarily because of the uncertainty related to the hotel tenant’s performance under its ground lease, the probability-weighted estimate of the obligations under the master leases reduced the sale consideration such that no gain was recognized on the sale. Once the hotel tenant began paying rent in May 2017 and obtained construction financing and commenced construction of the hotel in August 2017, the probability-weighted estimate of Stratus’ obligations under the master leases was significantly reduced, and a gain of $24.3 million related to the first performance obligation was recognized in third-quarter 2017. A contract liability of $10.5 million is presented as a deferred gain in the consolidated balance sheets at June 30, 2018, compared with $11.3 million at December 31, 2017. The reduction in the deferred gain balance primarily reflects master lease payments. The contract liability, as reduced by future master lease payments, will be recognized as additional gain as Stratus fulfills the remaining performance obligation. Upon the sale of The Oaks at Lakeway, HEB earned a profit participation of $2.5 million (of which $2.2 million was paid at closing), which is presented separately in the consolidated statements of comprehensive loss. Barton Creek Village. On February 28, 2017, Stratus completed the sale of its 3,085-square-foot bank building and an adjacent undeveloped 4.1 acre tract of land in Barton Creek, for $3.1 million and recorded a gain on the sale of $1.1 million. In connection with the sale, a $2.1 million paydown was made on the Barton Creek Village term loan.

Fair Value Measurements (Unaudited)

6 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

Fair Value Measurements [Text Block]

FAIR VALUE MEASUREMENTS

Fair value accounting guidance includes a hierarchy that prioritizes the inputs to valuation techniques used to measure fair value. The hierarchy gives the highest priority to unadjusted quoted prices in active markets for identical assets or liabilities (Level 1 inputs) and the lowest priority to unobservable inputs (Level 3 inputs).

The carrying value for certain Stratus financial instruments (i.e., cash and cash equivalents, restricted cash, accounts payable and accrued liabilities) approximates fair value because of their short-term nature and generally negligible credit losses.

A summary of the carrying amount and fair value of Stratus' other financial instruments follows (in thousands):



	June 30, 2018				December 31, 2017
	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets:
Interest rate swap agreement	$	123	$	123	$	—	$	—
Liabilities:
Debt	$	265,872	$	269,404	$	221,470	$	224,632
Interest rate swap agreement	—		—		134		134

Debt. Stratus' debt is recorded at cost and is not actively traded. Fair value is estimated based on discounted future expected cash flows at estimated current market interest rates. Accordingly, Stratus' debt is classified within Level 2 of the fair value hierarchy. The fair value of debt does not represent the amounts that will ultimately be paid upon the maturities of the loans.

Interest Rate Swap Agreement. The interest rate swap does not qualify for hedge accounting and changes in its fair value are recorded in the consolidated statements of comprehensive loss. Stratus evaluated the counterparty credit risk associated with the interest rate swap agreement, which is considered a Level 3 input, but did not consider such risk to be significant. Therefore, the interest rate swap agreement is classified within Level 2 of the fair value hierarchy.

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References + Details

Debt and Equity Transactions (Unaudited)

6 Months Ended

Jun. 30, 2018

Capitalization, Long-term Debt and Equity [Abstract]

Debt and Equity Transactions [Text Block]

DEBT AND EQUITY

Debt. The components of Stratus' debt are as follows (in thousands):



	June 30, 2018		December 31, 2017
Goldman Sachs loan	$	144,226	$	145,195
Comerica Bank credit facility	43,877		25,765
Santal Phase I construction loan	32,572		31,864
Barton Creek Village term loan	3,330		3,375
Amarra Villas credit facility	4,490		5,247
West Killeen Market construction loan	5,936		5,378
Jones Crossing construction loan	10,170		4,646
Lantana Place construction loan	14,080		—
Santal Phase II construction loan	7,191		—
Total debt^a	$	265,872	$	221,470


a.	Includes net reductions for unamortized debt issuance costs of $2.5 million at June 30, 2018, and $2.1 million at December 31, 2017.

On June 29, 2018, Stratus entered into a loan agreement with Comerica Bank to modify, increase and extend Stratus’ Comerica Bank credit facility, which was scheduled to mature on November 30, 2018. The new loan agreement provides for (1) an increase in the revolving credit facility from $45.0 million to $60.0 million, (2) a $7.5 million sublimit for letters of credit issuance and (3) an extension of the maturity date from November 30, 2018, to June 29, 2020. Advances under the credit facility bear interest at the annual London Interbank Offered Rate (LIBOR) plus 4.0 percent. The Comerica Bank credit facility is secured by substantially all of Stratus' assets, except for properties that are encumbered by separate debt financing. The loan agreement contains financial covenants usual and customary for loan agreements of this nature, including a requirement that Stratus maintains a net asset value of $125 million and an aggregate promissory note debt-to-gross asset value of less than 50 percent. As of June 30, 2018, Stratus had $12.0 million available under its $60.0 million Comerica Bank revolving credit facility, with $4.1 million of letters of credit committed against the available balance.

As discussed in Note 3, on June 19, 2018, Stratus entered into a $26 million construction loan with Texas Capital Bank (The Saint Mary construction loan) to finance the initial phase of The Saint Mary. Stratus will fully guaranty The Saint Mary construction loan. The repayment guaranty will be reduced to 50 percent upon issuance of a certificate of occupancy for The Saint Mary and will be eliminated when the project debt service coverage ratio equals or exceeds 1.25:1.0. Interest is variable at the one-month LIBOR plus 3.0 percent. Payments of interest only will be due and payable monthly, and outstanding principal is payable at maturity of June 19, 2021. Outstanding amounts will be secured by The Saint Mary and all subsequent improvements. The construction loan agreement and related document contain affirmative and negative covenants usual and customary for loan agreements of this nature. Stratus may extend the maturity of this loan for up to two additional 12-month periods if certain conditions are met, including debt service coverage ratio thresholds. As of June 30, 2018, no amounts were drawn on The Saint Mary construction loan.

For a description of Stratus' other debt, refer to Note 6 in the Stratus 2017 Form 10-K.

Interest Expense and Capitalization. Interest costs (before capitalized interest) totaled $3.8 million in second-quarter 2018, $2.9 million in second-quarter 2017, $7.2 million for the first six months of 2018 and $6.3 million for the first six months of 2017. Stratus' capitalized interest costs totaled $2.0 million in second-quarter 2018, $1.4 million in second-quarter 2017, $3.9 million for the first six months of 2018 and $2.8 million for the first six months of 2017, primarily related to development activities at Barton Creek.

Equity. Stratus' Comerica Bank credit facility requires the bank's prior written consent to pay a dividend on Stratus' common stock. On March 15, 2017, Stratus' Board of Directors (the Board), after receiving written consent from Comerica Bank, declared a special cash dividend of $1.00 per share ($8.1 million), which was paid on April 18, 2017, to stockholders of record on March 31, 2017. The special cash dividend was declared after the Board’s consideration of the results of the sale of The Oaks at Lakeway. Comerica Bank’s consent to the payment of this special dividend is not indicative of the bank’s willingness to consent to the payment of future dividends. The declaration of future dividends is at the discretion of the Board, subject to the restrictions under Stratus' Comerica Bank credit facility, and will depend on Stratus' financial results, cash requirements, projected compliance with covenants in its debt agreements, outlook and other factors deemed relevant by the Board.

Income Taxes (Unaudited)	6 Months Ended
Income Taxes (Unaudited)	Jun. 30, 2018
Income Tax Disclosure [Abstract]
Income Taxes [Text Block]	INCOME TAXES Stratus’ accounting policy for and other information regarding its income taxes is further described in Notes 1 and 7 in the Stratus 2017 Form 10-K. Stratus had deferred tax assets (net of deferred tax liabilities) totaling $12.1 million at June 30, 2018, and $11.5 million at December 31, 2017. Stratus’ income tax benefit for the first six months of 2018 includes a deferred tax benefit of $0.7 million, partly offset by income tax expense of $0.2 million. Stratus’ future results of operations may be negatively impacted by an inability to realize a tax benefit for future tax losses or for items that will generate additional deferred tax assets. The difference between Stratus' consolidated effective income tax rate for the first six months of 2018 and the first six months of 2017, and the U.S. Federal statutory income tax rate of 21 percent for 2018 and 35 percent for 2017, was primarily attributable to the Texas state margin tax.

Business Segments (Unaudited)

6 Months Ended

Jun. 30, 2018

Segment Reporting [Abstract]

Business Segments [Text Block]

BUSINESS SEGMENTS

Stratus currently has four operating segments: Real Estate Operations, Leasing Operations, Hotel and Entertainment.

The Real Estate Operations segment is comprised of Stratus’ real estate assets (developed, under development and available for development), which consists of its properties in Austin, Texas (the Barton Creek community, including Santal Phase II; the Circle C community, including The Saint Mary; the Lantana community, including Lantana Place; and the condominium units at the W Austin Hotel & Residences); in Lakeway, Texas, located in the greater Austin area (Lakeway); in College Station, Texas (Jones Crossing); and in Magnolia, Texas, located in the greater Houston area (Magnolia).

The Leasing Operations segment includes the office and retail space at the W Austin Hotel & Residences, a retail building in Barton Creek Village, Santal Phase I, the West Killeen Market in Killeen, Texas, and portions of the Lantana Place and Jones Crossing projects.

The Hotel segment includes the W Austin Hotel located at the W Austin Hotel & Residences in downtown Austin, Texas.

The Entertainment segment includes ACL Live, a live music and entertainment venue and production studio at the W Austin Hotel & Residences. In addition to hosting concerts and private events, this venue is the home of Austin City Limits, a television program showcasing popular music legends. The Entertainment segment also includes revenues and costs associated with events hosted at other venues, including 3TEN ACL Live, which opened in March 2016 on the site of the W Austin Hotel & Residences.

Stratus uses operating income or loss to measure the performance of each segment. General and administrative expenses, which primarily consist of employee salaries, wages and other costs, are managed on a consolidated basis and are not allocated to Stratus' operating segments. The following segment information reflects management determinations that may not be indicative of what the actual financial performance of each segment would be if it were an independent entity.

Revenues From Contracts with Customers. Stratus' revenues from contracts with customers for the second quarters and the first six months of 2018 and 2017 follow (in thousands):



	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Real Estate Operations:
Developed property sales	$	6,856	$	3,443	$	8,011	$	5,576
Undeveloped property sales	—		544		—		544
Commissions and other	123		34		162		65
	6,979		4,021		8,173		6,185
Leasing Operations:
Rental revenue	2,331		1,811		4,335		4,092
	2,331		1,811		4,335		4,092
Hotel:
Rooms, food and beverage	8,908		9,122		17,602		18,911
Other	685		643		1,313		1,168
	9,593		9,765		18,915		20,079
Entertainment:
Event revenue	3,729		5,215		8,378		10,510
Other	678		617		1,274		1,227
	4,407		5,832		9,652		11,737

Total Revenues from Contracts with Unaffiliated Customers	$	23,310	$	21,429	$	41,075	$	42,093

Financial Information by Business Segment. The following segment information was prepared on the same basis as Stratus’ consolidated financial statements (in thousands).



	Real Estate Operations^a			Leasing Operations		Hotel		Entertainment		Eliminations and Other^b			Total
Three Months Ended June 30, 2018:
Revenues:
Unaffiliated customers	$	6,979		$	2,331	$	9,593	$	4,407	$	—		$	23,310
Intersegment	8			225		50		44		(327		)	—
Cost of sales, excluding depreciation	5,560		^c	1,331		7,184		3,560		(167		)	17,468
Depreciation	64			738		894		392		(35		)	2,053
General and administrative expenses	—			—		—		—		3,015			3,015
Operating income (loss)	$	1,363		$	487	$	1,565	$	499	$	(3,140	)	$	774
Capital expenditures and purchases and development of real estate properties	$	4,087		$	18,486	$	97	$	23	$	—		$	22,693
Total assets at June 30, 2018	207,437			95,954		101,487		36,263		7,547			448,688



Three Months Ended June 30, 2017:
Revenues:
Unaffiliated customers	$	4,021	$	1,811	$	9,765	$	5,832	$	—		$	21,429
Intersegment	8		221		82		85		(396		)	—
Cost of sales, excluding depreciation	3,868		980		7,456		4,449		(221		)	16,532
Depreciation	57		568		789		377		(35		)	1,756
General and administrative expenses	—		—		—		—		2,846			2,846
Operating income (loss)	$	104	$	484	$	1,602	$	1,091	$	(2,986	)	$	295
Capital expenditures and purchases and development of real estate properties	$	4,306	$	2,748	$	11	$	40	$	—		$	7,105
Total assets at June 30, 2017	160,713		69,629		103,154		37,392		24,566			395,454



	Real Estate Operations^a			Leasing Operations		Hotel		Entertainment		Eliminations and Other^b			Total
Six Months Ended June 30, 2018:
Revenues:
Unaffiliated customers	$	8,173		$	4,335	$	18,915	$	9,652	$	—		$	41,075
Intersegment	16			476		122		58		(672		)	—
Cost of sales, excluding depreciation	7,126		^c	2,521		14,222		7,696		(352		)	31,213
Depreciation	125			1,371		1,789		780		(70		)	3,995
General and administrative expenses	—			—		—		—		5,996			5,996
Operating income (loss)	$	938		$	919	$	3,026	$	1,234	$	(6,246	)	$	(129	)
Capital expenditures and purchases and development of real estate properties	$	7,699		$	42,285	$	336	$	361	$	—		$	50,681



Six Months Ended June 30, 2017:
Revenues:
Unaffiliated customers	$	6,185	$	4,092		$	20,079	$	11,737	$	—		$	42,093
Intersegment	21		431			173		125		(750		)	—
Cost of sales, excluding depreciation	5,844		2,673			14,645		8,957		(384		)	31,735
Depreciation	114		1,331			1,768		753		(69		)	3,897
General and administrative expenses	—		—			—		—		6,242			6,242
Profit participation	—		2,538			—		—		—			2,538
Gain on sales of assets	—		(1,115		)	—		—		—			(1,115		)
Operating income (loss)	$	248	$	(904	)	$	3,839	$	2,152	$	(6,539	)	$	(1,204	)
Capital expenditures and purchases and development of real estate properties	$	7,974	$	4,779		$	258	$	63	$	—		$	13,074


a.	Includes sales commissions and other revenues together with related expenses.


b.	Includes consolidated general and administrative expenses and eliminations of intersegment amounts.


c.	Includes $0.4 million of reductions to cost of sales associated with collection of prior-years' assessments of properties in Barton Creek.

New Accounting Standards (Unaudited) (Notes)

6 Months Ended

Jun. 30, 2018

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

New Accounting Pronouncements and Changes in Accounting Principles [Text Block]

NEW ACCOUNTING STANDARDS

Revenue Recognition. In May 2014, the Financial Accounting Standards Board (FASB) issued a new Accounting Standards Update (ASU) related to revenue recognition. Stratus adopted this standard effective January 1, 2018, under the modified retrospective approach applied to contracts that remain in force at the adoption date. The adoption of this standard did not result in any changes to Stratus' revenue recognition policies or processes (refer to Note 1 of Stratus' 2017 Form 10-K for disclosure of Stratus' revenue recognition policy) except as follows:

Revenue or gains on sales of real estate are recognized when control of the asset has been transferred to the buyer if collection of substantially all of the consideration to which Stratus will be entitled is probable and Stratus has satisfied all other performance obligations under the contract. Consideration is allocated among multiple performance obligations or distinct nonfinancial assets to be transferred to the buyer based on relative fair value.

Financial Instruments. In January 2016, FASB issued an ASU that amends the guidance on the classification and measurement of financial instruments. This ASU makes limited changes to prior guidance and amends certain disclosure requirements. Stratus adopted this ASU effective January 1, 2018, and the adoption did not have a material impact on its financial statements.

Leases. In February 2016, FASB issued an ASU that will require lessees to recognize most leases on the balance sheet. This ASU allows lessees to make an accounting policy election to not recognize a lease asset and liability for leases with a term of 12 months or less and do not have a purchase option that is expected to be exercised. For public entities, this ASU is effective for interim and annual reporting periods beginning after December 15, 2018, with early adoption permitted. In July 2018, FASB issued a practical expedient allowing for entities to apply the provisions of the updated lease guidance at the January 1, 2019, effective date, without adjusting the comparative periods presented. Stratus continues to review the impact of the new guidance on its financial reporting and disclosures, including the impact of the College Station ground lease.

Statement of Cash Flows: Restricted Cash. In November 2016, FASB issued an ASU that changes the classification and presentation of restricted cash and restricted cash equivalents on the statement of cash flows. The ASU requires that a statement of cash flows include the change during the period in the total of cash, cash equivalents and amounts generally described as restricted cash or restricted cash equivalents. Therefore, amounts generally described as restricted cash and restricted cash equivalents should be included with cash and cash equivalents when reconciling the beginning-of-period and end-of-period total amounts shown on the statement of cash flows. Stratus adopted this ASU effective January 1, 2018, and adjusted its consolidated statement of cash flows for the six months ended June 30, 2017, to include restricted cash (Stratus has no restricted cash equivalents) with cash and cash equivalents.

The impact of adopting this ASU for the six months ended June 30, 2017, follows (in millions):



	Previously Reported		Impact of Adoption			Current Presentation
Net increase (decrease) in cash, cash equivalents and restricted cash	$	1,208	$	(1,295	)	$	(87	)
Cash, cash equivalents and restricted cash at beginning of year	13,597		11,892			25,489
Cash, cash equivalents and restricted cash at end of period	$	14,805	$	10,597		$	25,402

Subsequent Events (Unaudited) (Notes)	6 Months Ended
Subsequent Events (Unaudited) (Notes)	Jun. 30, 2018
Subsequent Events [Abstract]
Subsequent Events [Text Block]	SUBSEQUENT EVENTS On July 11, 2018, Stratus' Compensation Committee (the Committee) of the Board unanimously adopted the Stratus Profit Participation Incentive Plan to enable Stratus to attract and retain highly qualified employees who will contribute to Stratus’ long-term success by providing award opportunities that align the interests of Stratus’ executives, other employees and consultants designated by the Committee with those of Stratus’ stockholders. On August 6, 2018, Stratus purchased a 54-acre tract of land in Kingwood, Texas to be developed as Kingwood Place. See Note 3 for further discussion. Stratus evaluated events after June 30, 2018, and through the date the financial statements were issued, and determined any events or transactions occurring during this period that would require recognition or disclosure are appropriately addressed in these financial statements.

New Accounting Standards (Unaudited) (Policies)	6 Months Ended
New Accounting Standards (Unaudited) (Policies)	Jun. 30, 2018
New Accounting Pronouncements and Changes in Accounting Principles [Abstract]
Revenue Recognition, Policy [Policy Text Block]	Revenue Recognition. In May 2014, the Financial Accounting Standards Board (FASB) issued a new Accounting Standards Update (ASU) related to revenue recognition. Stratus adopted this standard effective January 1, 2018, under the modified retrospective approach applied to contracts that remain in force at the adoption date. The adoption of this standard did not result in any changes to Stratus' revenue recognition policies or processes (refer to Note 1 of Stratus' 2017 Form 10-K for disclosure of Stratus' revenue recognition policy) except as follows: Revenue or gains on sales of real estate are recognized when control of the asset has been transferred to the buyer if collection of substantially all of the consideration to which Stratus will be entitled is probable and Stratus has satisfied all other performance obligations under the contract. Consideration is allocated among multiple performance obligations or distinct nonfinancial assets to be transferred to the buyer based on relative fair value.

Related Party Transaction (Tables)

6 Months Ended

Jun. 30, 2018

Schedule of Subsidiary of Limited Liability Company or Limited Partnership, Description [Table Text Block]

As of June 30, 2018, Stratus’ consolidated balance sheet includes the following assets and liabilities of The Saint Mary, L.P. (in thousands):



	June 30, 2018
Assets:
Restricted cash	$	8,670
Real estate held under development	3,130
Other assets	400
Total assets	$	12,200
Liabilities:
Accounts payable	$	521
Total liabilities	521
Net assets	$	11,679

Fair Value Measurements (Unaudited) (Tables)

6 Months Ended

Jun. 30, 2018

Fair Value Disclosures [Abstract]

Fair Value, by Balance Sheet Grouping [Table Text Block]

A summary of the carrying amount and fair value of Stratus' other financial instruments follows (in thousands):



	June 30, 2018				December 31, 2017
	Carrying Value		Fair Value		Carrying Value		Fair Value
Assets:
Interest rate swap agreement	$	123	$	123	$	—	$	—
Liabilities:
Debt	$	265,872	$	269,404	$	221,470	$	224,632
Interest rate swap agreement	—		—		134		134

Debt and Equity Transactions (Unaudited) Summary of Debt (Tables)

6 Months Ended

Jun. 30, 2018

Debt Table [Abstract]

Schedule of Debt [Table Text Block]

The components of Stratus' debt are as follows (in thousands):



	June 30, 2018		December 31, 2017
Goldman Sachs loan	$	144,226	$	145,195
Comerica Bank credit facility	43,877		25,765
Santal Phase I construction loan	32,572		31,864
Barton Creek Village term loan	3,330		3,375
Amarra Villas credit facility	4,490		5,247
West Killeen Market construction loan	5,936		5,378
Jones Crossing construction loan	10,170		4,646
Lantana Place construction loan	14,080		—
Santal Phase II construction loan	7,191		—
Total debt^a	$	265,872	$	221,470


a.	Includes net reductions for unamortized debt issuance costs of $2.5 million at June 30, 2018, and $2.1 million at December 31, 2017.

Business Segments (Unaudited) (Tables)

6 Months Ended

Jun. 30, 2018

Segment Reporting [Abstract]

Revenue from External Customers by Products and Services [Table Text Block]

Stratus' revenues from contracts with customers for the second quarters and the first six months of 2018 and 2017 follow (in thousands):



	Three Months Ended June 30,				Six Months Ended June 30,
	2018		2017		2018		2017
Real Estate Operations:
Developed property sales	$	6,856	$	3,443	$	8,011	$	5,576
Undeveloped property sales	—		544		—		544
Commissions and other	123		34		162		65
	6,979		4,021		8,173		6,185
Leasing Operations:
Rental revenue	2,331		1,811		4,335		4,092
	2,331		1,811		4,335		4,092
Hotel:
Rooms, food and beverage	8,908		9,122		17,602		18,911
Other	685		643		1,313		1,168
	9,593		9,765		18,915		20,079
Entertainment:
Event revenue	3,729		5,215		8,378		10,510
Other	678		617		1,274		1,227
	4,407		5,832		9,652		11,737

Total Revenues from Contracts with Unaffiliated Customers	$	23,310	$	21,429	$	41,075	$	42,093

Schedule of Segment Reporting Information by Segment [Table Text Block]

The following segment information was prepared on the same basis as Stratus’ consolidated financial statements (in thousands).



	Real Estate Operations^a			Leasing Operations		Hotel		Entertainment		Eliminations and Other^b			Total
Three Months Ended June 30, 2018:
Revenues:
Unaffiliated customers	$	6,979		$	2,331	$	9,593	$	4,407	$	—		$	23,310
Intersegment	8			225		50		44		(327		)	—
Cost of sales, excluding depreciation	5,560		^c	1,331		7,184		3,560		(167		)	17,468
Depreciation	64			738		894		392		(35		)	2,053
General and administrative expenses	—			—		—		—		3,015			3,015
Operating income (loss)	$	1,363		$	487	$	1,565	$	499	$	(3,140	)	$	774
Capital expenditures and purchases and development of real estate properties	$	4,087		$	18,486	$	97	$	23	$	—		$	22,693
Total assets at June 30, 2018	207,437			95,954		101,487		36,263		7,547			448,688



Three Months Ended June 30, 2017:
Revenues:
Unaffiliated customers	$	4,021	$	1,811	$	9,765	$	5,832	$	—		$	21,429
Intersegment	8		221		82		85		(396		)	—
Cost of sales, excluding depreciation	3,868		980		7,456		4,449		(221		)	16,532
Depreciation	57		568		789		377		(35		)	1,756
General and administrative expenses	—		—		—		—		2,846			2,846
Operating income (loss)	$	104	$	484	$	1,602	$	1,091	$	(2,986	)	$	295
Capital expenditures and purchases and development of real estate properties	$	4,306	$	2,748	$	11	$	40	$	—		$	7,105
Total assets at June 30, 2017	160,713		69,629		103,154		37,392		24,566			395,454



	Real Estate Operations^a			Leasing Operations		Hotel		Entertainment		Eliminations and Other^b			Total
Six Months Ended June 30, 2018:
Revenues:
Unaffiliated customers	$	8,173		$	4,335	$	18,915	$	9,652	$	—		$	41,075
Intersegment	16			476		122		58		(672		)	—
Cost of sales, excluding depreciation	7,126		^c	2,521		14,222		7,696		(352		)	31,213
Depreciation	125			1,371		1,789		780		(70		)	3,995
General and administrative expenses	—			—		—		—		5,996			5,996
Operating income (loss)	$	938		$	919	$	3,026	$	1,234	$	(6,246	)	$	(129	)
Capital expenditures and purchases and development of real estate properties	$	7,699		$	42,285	$	336	$	361	$	—		$	50,681



Six Months Ended June 30, 2017:
Revenues:
Unaffiliated customers	$	6,185	$	4,092		$	20,079	$	11,737	$	—		$	42,093
Intersegment	21		431			173		125		(750		)	—
Cost of sales, excluding depreciation	5,844		2,673			14,645		8,957		(384		)	31,735
Depreciation	114		1,331			1,768		753		(69		)	3,897
General and administrative expenses	—		—			—		—		6,242			6,242
Profit participation	—		2,538			—		—		—			2,538
Gain on sales of assets	—		(1,115		)	—		—		—			(1,115		)
Operating income (loss)	$	248	$	(904	)	$	3,839	$	2,152	$	(6,539	)	$	(1,204	)
Capital expenditures and purchases and development of real estate properties	$	7,974	$	4,779		$	258	$	63	$	—		$	13,074


a.	Includes sales commissions and other revenues together with related expenses.


b.	Includes consolidated general and administrative expenses and eliminations of intersegment amounts.


c.	Includes $0.4 million of reductions to cost of sales associated with collection of prior-years' assessments of properties in Barton Creek.

New Accounting Standards (Unaudited) (Tables)

6 Months Ended

Jun. 30, 2018

New Accounting Pronouncements and Changes in Accounting Principles [Abstract]

Schedule of New Accounting Pronouncements and Changes in Accounting Principles [Table Text Block]

The impact of adopting this ASU for the six months ended June 30, 2017, follows (in millions):



	Previously Reported		Impact of Adoption			Current Presentation
Net increase (decrease) in cash, cash equivalents and restricted cash	$	1,208	$	(1,295	)	$	(87	)
Cash, cash equivalents and restricted cash at beginning of year	13,597		11,892			25,489
Cash, cash equivalents and restricted cash at end of period	$	14,805	$	10,597		$	25,402

Earnings Per Share (Unaudited) (Details) - shares shares in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Earnings Per Share [Abstract]
Antidilutive Securities Excluded from Computation of Earnings Per Share, Amount	85	102	96	115

Related Party Transaction Saint Mary, L.P. (Details)	Dec. 31, 2018 USD ($)	Jun. 19, 2018 USD ($) a	Jun. 30, 2018 USD ($)	Dec. 31, 2017 USD ($)	Jun. 30, 2017 USD ($)
Related Party Transaction [Line Items]
Restricted Cash and Cash Equivalents			$ 24,637,000	$ 24,779,000
Development in Process			140,210,000	118,484,000
Other Assets			13,537,000	10,852,000
Assets			448,688,000	405,993,000	$ 395,454,000
Accounts Payable			22,195,000	22,809,000
Liabilities			316,866,000	$ 278,603,000
The Saint Mary, L.P. [Member]
Related Party Transaction [Line Items]
Restricted Cash and Cash Equivalents			8,670
Development in Process			3,130
Other Assets			400
Assets			12,200
Accounts Payable			521
Liabilities			521
Net Assets			$ 11,679
The Saint Mary Construction Loan [Member] \| Construction Loan Payable [Member]
Related Party Transaction [Line Items]
Long-term Construction Loan		$ 26,000,000
The Saint Mary, L.P. [Member]
Related Party Transaction [Line Items]
Proceeds from Issuance of Private Placement		$ 8,000,000
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest		49.10%
The Saint Mary, L.P. [Member] \| Circle C [Member]
Related Party Transaction [Line Items]
Investment Owned, Percent of Net Assets		6.10%
Noncontrolling Interest in Limited Partnerships		$ 1,000,000
The Saint Mary, L.P. [Member] \| Stratus Properties Inc [Member]
Related Party Transaction [Line Items]
Investment Owned, Percent of Net Assets		57.00%
The Saint Mary, L.P. [Member] \| LCHM Holdings, L.L.C. [Member]
Related Party Transaction [Line Items]
Investment Owned, Percent of Net Assets		6.10%
Noncontrolling Interest in Limited Partnerships		$ 1,000,000
The Saint Mary [Member] \| Circle C [Member]
Related Party Transaction [Line Items]
Area of Real Estate Property \| a		14.35
Cash [Member] \| The Saint Mary [Member] \| Circle C [Member]
Related Party Transaction [Line Items]
Cash		$ 700,000
Scenario, Forecast [Member] \| The Saint Mary [Member]
Related Party Transaction [Line Items]
Management Fees Revenue	$ 210,000
DevepmentFeeRevenue	$ 1,400,000

Related Party Transaction Stratus Kingwood, L.P. (Details)	Dec. 31, 2018 USD ($)	Aug. 03, 2018 USD ($) ft² a
Subsequent Event [Member] \| Comerica Bank [Member]
Related Party Transaction [Line Items]
Loans Payable to Bank		$ 6,750,000
Subsequent Event [Member] \| Stratus Kingwood, L.P. [Member]
Related Party Transaction [Line Items]
Proceeds from Issuance of Private Placement		$ 10,700,000
Limited Liability Company or Limited Partnership, Members or Limited Partners, Ownership Interest		70.00%
Subsequent Event [Member] \| Stratus Kingwood, L.P. [Member] \| LCHM Holdings, L.L.C. [Member]
Related Party Transaction [Line Items]
Investment Owned, Percent of Net Assets		8.80%
Noncontrolling Interest in Limited Partnerships		$ 1,000,000
Subsequent Event [Member] \| Kingwood Place [Member]
Related Party Transaction [Line Items]
Planned Number of Retail Pads		6
Area of Land \| a		54.00
Planned Number of Multi-Family Units		300
Subsequent Event [Member] \| Kingwood Place [Member] \| Stratus Kingwood, L.P. [Member]
Related Party Transaction [Line Items]
Property Management Fee, Percent Fee		4.00%
Land [Member] \| Subsequent Event [Member] \| Stratus Kingwood, L.P. [Member]
Related Party Transaction [Line Items]
ProceedsFromIssuanceOfPrivatePlacementUsedForLandPurchase		$ 7,000,000
Land [Member] \| Subsequent Event [Member] \| Kingwood Place [Member]
Related Party Transaction [Line Items]
Area of Land \| a		11.00
H-E-B, L.P. [Member] \| Subsequent Event [Member] \| Kingwood Place [Member]
Related Party Transaction [Line Items]
Net Rentable Area \| ft²		103,000
Retail space [Member] \| Subsequent Event [Member] \| Kingwood Place [Member]
Related Party Transaction [Line Items]
Net Rentable Area \| ft²		41,000
Scenario, Forecast [Member] \| Kingwood Place [Member] \| Stratus Kingwood, L.P. [Member]
Related Party Transaction [Line Items]
Asset Management Fees	$ 283,000

Dispositions (Details) $ in Thousands			3 Months Ended			6 Months Ended
Dispositions (Details) $ in Thousands	Feb. 28, 2017 USD ($) ft² a	Feb. 15, 2017 USD ($)	Jun. 30, 2018 USD ($)	Sep. 30, 2017 USD ($)	Jun. 30, 2017 USD ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2017 USD ($)	Dec. 31, 2017 USD ($)
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Deferred Gain on Sale of Property			$ 10,480			$ 10,480		$ 11,320
Profit participation in sale of The Oaks at Lakeway			0		$ 0	0	$ 2,538
Gain on Disposition of Assets			0		$ 0	0	$ 1,115
The Oaks at Lakeway [Member] \| Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from Sale of Real Estate Held-for-investment		$ 114,000
Proceeds from Sale of Real Estate Held-for-investment, Net of Debt Repayments		$ 50,800
Contractual Obligation			180			180
Guarantee obligations, Liability Cap, percentage		2.00%
Letters of Credit Outstanding, Amount		$ 1,500
Deferred Revenue, Revenue Recognized				$ 24,300
Deferred Gain on Sale of Property			$ 10,480			$ 10,480		$ 11,320
Profit participation in sale of The Oaks at Lakeway		2,500
Other nonrecurring expense paid at closing		$ 2,200
Barton Creek [Member] \| Disposal Group, Disposed of by Sale, Not Discontinued Operations [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Proceeds from Sale of Real Estate Held-for-investment	$ 3,100
Gain on Disposition of Assets	1,100
Repayments of Debt	$ 2,100
Lakeway Master Lease Retail [Domain]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Lessee, Operating Lease, Term of Contract		5 years
Lakeway Master Lease Unleased 3 [Domain]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Lessee, Operating Lease, Term of Contract		10 years
Lakeway Master Lease Unleased [Domain]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Lessee, Operating Lease, Term of Contract		15 years
Lakeway Master Lease Hotel [Domain]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Lessee, Operating Lease, Term of Contract		99 years
Barton Creek [Member]
Income Statement, Balance Sheet and Additional Disclosures by Disposal Groups, Including Discontinued Operations [Line Items]
Net Rentable Area \| ft²	3,085
Area of Land \| a	4.1

Fair Value Measurements (Unaudited) (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Dec. 31, 2017
Carrying Amount, Fair Value
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Fair Value	$ 265,872	$ 221,470
Interest Rate Swap, Assets	123	0
Interest Rate Swap, Liabilities	0	134
Estimate of Fair Value Measurement [Member] \| Fair Value, Inputs, Level 2 [Member]
Fair Value, Balance Sheet Grouping, Financial Statement Captions [Line Items]
Long-term Debt, Fair Value	269,404	224,632
Interest Rate Swap, Assets	123	0
Interest Rate Swap, Liabilities	$ 0	$ 134

Debt and Equity Transactions (Unaudited) (Details)			3 Months Ended		6 Months Ended
Debt and Equity Transactions (Unaudited) (Details)	Jun. 29, 2018 USD ($)	Jun. 19, 2018 USD ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2017 USD ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2017 USD ($)	Jun. 28, 2018 USD ($)	Dec. 31, 2017 USD ($)
Debt Instrument [Line Items]
Debt			$ 265,872,000		$ 265,872,000			$ 221,470,000
Unamortized Debt Issuance Expense			2,500,000		2,500,000			2,100,000
Interest Costs Incurred			3,800,000	$ 2,900,000	7,200,000	$ 6,300,000
Interest Costs Capitalized			2,000,000	$ 1,400,000	3,900,000	$ 2,800,000
Goldman Sachs Loan [Member]
Debt Instrument [Line Items]
Debt			144,226,000		144,226,000			145,195,000
Comerica Credit Facility [Member]
Debt Instrument [Line Items]
Debt			43,877,000		43,877,000			25,765,000
Letters of Credit Outstanding, Amount			4,100,000		4,100,000
Santal Phase I Construction Loan [Member]
Debt Instrument [Line Items]
Debt			32,572,000		32,572,000			31,864,000
Barton Creek Village Term Loan [Member]
Debt Instrument [Line Items]
Debt			3,330,000		3,330,000			3,375,000
Amarra Villas Credit Facility
Debt Instrument [Line Items]
Debt			4,490,000		4,490,000			5,247,000
West Killeen Market construction loan [Member]
Debt Instrument [Line Items]
Debt			5,936,000		5,936,000			5,378,000
Jones Crossing Construction Loan [Member]
Debt Instrument [Line Items]
Debt			10,170,000		10,170,000			4,646,000
Lantana Place Construction Loan [Member]
Debt Instrument [Line Items]
Debt			14,080,000		14,080,000			0
Santal Phase II Construction Loan [Member]
Debt Instrument [Line Items]
Debt			7,191,000		7,191,000			$ 0
Revolving Credit Facility [Member] \| Comerica Credit Facility [Member]
Debt Instrument [Line Items]
Line of Credit Facility, Remaining Borrowing Capacity			12,000,000		12,000,000
Line of Credit Facility, Maximum Borrowing Capacity	$ 60,000,000		60,000,000		60,000,000		$ 45,000,000
Debt Instrument, Basis Spread on Variable Rate	4.00%
Debt Instrument, Covenant Description	The loan agreement contains financial covenants usual and customary for loan agreements of this nature, including a requirement that Stratus maintains a net asset value of $125 million and an aggregate promissory note debt-to-gross asset value of less than 50 percent.
Construction Loan Payable [Member] \| The Saint Mary Construction Loan [Member]
Debt Instrument [Line Items]
Debt			$ 0		$ 0
Debt Instrument, Face Amount		$ 26,000,000
Debt Instrument, Basis Spread on Variable Rate		3.00%
Number of Debt Maturity Extensions		2
Debt Maturity Extension, Term		12 months
Debt Instrument, Covenant Description		The repayment guaranty will be reduced to 50 percent upon issuance of a certificate of occupancy for The Saint Mary and will be eliminated when the project debt service coverage ratio equals or exceeds 1.25:1.0.
Letter of Credit [Member] \| Maximum [Member] \| Comerica Credit Facility [Member]
Debt Instrument [Line Items]
Long-term Line of Credit	$ 7,500,000

Debt and Equity Transactions (Unaudited) Equity Transactions (Details) - USD ($) $ / shares in Units, $ in Millions			3 Months Ended		6 Months Ended
	Apr. 18, 2017	Mar. 15, 2017	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Dividends Payable [Line Items]
Common Stock, Dividends, Per Share, Declared		$ 1.00	$ 0.00	$ 0.00	$ 0.00	$ 1.00
Dividends, Common Stock, Cash	$ 8.1

Income Taxes (Unaudited) (Details) - USD ($) $ in Thousands	6 Months Ended
Income Taxes (Unaudited) (Details) - USD ($) $ in Thousands	Jun. 30, 2018	Jun. 30, 2017	Dec. 31, 2017
Income Tax Disclosure [Abstract]
Deferred tax assets	$ 12,114		$ 11,461
Current Income Tax Expense	200
Deferred income tax benefit	$ 653	$ 12,607
Federal Statutory Income Tax Rate	21.00%	35.00%

Business Segments (Unaudited) Revenues from External Customers for Products and Services (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017	Jun. 30, 2018	Jun. 30, 2017
Revenue from External Customer [Line Items]
Real estate operations	$ 6,979	$ 4,021	$ 8,173	$ 6,185
Leasing operations	2,331	1,811	4,335	4,092
Hotel	9,593	9,765	18,915	20,079
Entertainment	4,407	5,832	9,652	11,737
Total revenues	23,310	21,429	41,075	42,093
Developed property sales
Revenue from External Customer [Line Items]
Real estate operations	6,856	3,443	8,011	5,576
Undeveloped Property Sales [Member]
Revenue from External Customer [Line Items]
Real estate operations	0	544	0	544
Commissions and other
Revenue from External Customer [Line Items]
Real estate operations	123	34	162	65
Rental revenue
Revenue from External Customer [Line Items]
Leasing operations	2,331	1,811	4,335	4,092
Rooms, food and beverage
Revenue from External Customer [Line Items]
Hotel	8,908	9,122	17,602	18,911
Other, Hotel Revenue
Revenue from External Customer [Line Items]
Hotel	685	643	1,313	1,168
Event revenue
Revenue from External Customer [Line Items]
Entertainment	3,729	5,215	8,378	10,510
Other, Entertainment Revenue [Member]
Revenue from External Customer [Line Items]
Entertainment	$ 678	$ 617	$ 1,274	$ 1,227

Business Segments (Unaudited) Segment Information (Details) $ in Thousands	3 Months Ended			6 Months Ended
	Jun. 30, 2018 USD ($)	Mar. 31, 2018	Jun. 30, 2017 USD ($)	Jun. 30, 2018 USD ($)	Jun. 30, 2017 USD ($)	Dec. 31, 2017 USD ($)
Segment Reporting Information [Line Items]
Number of Operating Segments		4
Revenues:
Unaffiliated customers	$ 23,310		$ 21,429	$ 41,075	$ 42,093
Intersegment	0		0	0	0
Cost of sales, excluding depreciation	17,468		16,532	31,213	31,735
Depreciation	2,053		1,756	3,995	3,897
General and administrative expenses	3,015		2,846	5,996	6,242
Profit participation	0		0	0	2,538
Gain on sale of assets	0		0	0	(1,115)
Operating income (loss)	774		295	(129)	(1,204)
Capital expenditures	22,693		7,105	50,681	13,074
Total assets	448,688		395,454	448,688	395,454	$ 405,993
Real Estate Operations [Member]
Revenues:
Unaffiliated customers	6,979		4,021	8,173	6,185
Intersegment	8		8	16	21
Cost of sales, excluding depreciation	5,560		3,868	7,126	5,844
Depreciation	64		57	125	114
General and administrative expenses	0		0	0	0
Profit participation					0
Gain on sale of assets					0
Operating income (loss)	1,363		104	938	248
Capital expenditures	4,087		4,306	7,699	7,974
Total assets	207,437		160,713	207,437	160,713
Rental revenue
Revenues:
Unaffiliated customers	2,331		1,811	4,335	4,092
Intersegment	225		221	476	431
Cost of sales, excluding depreciation	1,331		980	2,521	2,673
Depreciation	738		568	1,371	1,331
General and administrative expenses	0		0	0	0
Profit participation					2,538
Gain on sale of assets					(1,115)
Operating income (loss)	487		484	919	(904)
Capital expenditures	18,486		2,748	42,285	4,779
Total assets	95,954		69,629	95,954	69,629
Hotel [Member]
Revenues:
Unaffiliated customers	9,593		9,765	18,915	20,079
Intersegment	50		82	122	173
Cost of sales, excluding depreciation	7,184		7,456	14,222	14,645
Depreciation	894		789	1,789	1,768
General and administrative expenses	0		0	0	0
Profit participation					0
Gain on sale of assets					0
Operating income (loss)	1,565		1,602	3,026	3,839
Capital expenditures	97		11	336	258
Total assets	101,487		103,154	101,487	103,154
Entertainment Venue [Member]
Revenues:
Unaffiliated customers	4,407		5,832	9,652	11,737
Intersegment	44		85	58	125
Cost of sales, excluding depreciation	3,560		4,449	7,696	8,957
Depreciation	392		377	780	753
General and administrative expenses	0		0	0	0
Profit participation					0
Gain on sale of assets					0
Operating income (loss)	499		1,091	1,234	2,152
Capital expenditures	23		40	361	63
Total assets	36,263		37,392	36,263	37,392
Eliminations and Other [Member]
Revenues:
Unaffiliated customers	0		0	0	0
Intersegment	(327)		(396)	(672)	(750)
Cost of sales, excluding depreciation	(167)		(221)	(352)	(384)
Depreciation	(35)		(35)	(70)	(69)
General and administrative expenses	3,015		2,846	5,996	6,242
Profit participation					0
Gain on sale of assets					0
Operating income (loss)	(3,140)		(2,986)	(6,246)	(6,539)
Capital expenditures	0		0	0	0
Total assets	7,547		$ 24,566	7,547	$ 24,566
Barton Creek [Member]
Segment Reporting Information [Line Items]
Recovery of Direct Costs	$ 400			$ 400

New Accounting Standards (Unaudited) Restricted Cash (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2017
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net (decrease) increase in cash, cash equivalents and restricted cash	$ (2,093)	$ (87)
Cash, cash equivalents and restricted cash at beginning of year	39,390	25,489
Cash, cash equivalents and restricted cash at end of period	$ 37,297	25,402
Scenario, Previously Reported [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net (decrease) increase in cash, cash equivalents and restricted cash		1,208
Cash, cash equivalents and restricted cash at beginning of year		13,597
Cash, cash equivalents and restricted cash at end of period		14,805
Accounting Standards Update 2016-18 [Member] \| Restatement Adjustment [Member]
New Accounting Pronouncements or Change in Accounting Principle [Line Items]
Net (decrease) increase in cash, cash equivalents and restricted cash		(1,295)
Cash, cash equivalents and restricted cash at beginning of year		11,892
Cash, cash equivalents and restricted cash at end of period		$ 10,597