"The Tarragon story continues to evolve rapidly," said president and CEO William S. Friedman during the company's conference call on second quarter results. "Stay tuned for future developments." One those future developments is the proposed Metropolitan condominium high-rise at the northwestern corner of US 41 and Gulfstream in Sarasota, FL. With 450,000 sf of saleable space in front of the Ritz-Carlton Hotel, Tarragon anticipates that the project will eventually bring in $225 million.

"We've received municipal approvals for a zoning change and expect to break ground early next year and want to make a West Coast impact," Friedman said.

Another future development is the company's For Sale Housing Division, which has a development and construction pipeline of more than $1.3 billion in homes expected to be completed and sold over the next four years.