First Hartford (FHRT) 10-K 27 Oct 14 2014 FY Annual report Financial data

Document_And_Entity_Informatio

Document And Entity Information (USD $)	12 Months Ended
	Apr. 30, 2014	Sep. 16, 2014	Oct. 31, 2013
Document Information [Line Items]	'	'	'
Entity Registrant Name	'FIRST HARTFORD CORP	'	'
Entity Central Index Key	'0000036369	'	'
Current Fiscal Year End Date	'--04-30	'	'
Entity Filer Category	'Smaller Reporting Company	'	'
Trading Symbol	'FHRT	'	'
Entity Common Stock, Shares Outstanding	'	2,411,965	'
Document Type	'10-K	'	'
Amendment Flag	'false	'	'
Document Period End Date	30-Apr-14	'	'
Document Fiscal Period Focus	'FY	'	'
Document Fiscal Year Focus	'2014	'	'
Entity Current Reporting Status	'No	'	'
Entity Well-known Seasoned Issuer	'No	'	'
Entity Voluntary Filers	'No	'	'
Entity Public Float	'	'	$1,480,000

CONSOLIDATED_BALANCE_SHEETS

CONSOLIDATED BALANCE SHEETS (USD $)	Apr. 30, 2014	Apr. 30, 2013
Real estate and equipment:	'	'
Developed properties (including $71,182,200 in 2014 and $70,735,840 in 2013 for VIEs)	$195,999,323	$202,050,054
Equipment and tenant improvements (including $2,314,849 in 2014 and $2,084,461 in 2013 for VIEs)	3,639,292	3,458,587
Total Real estate and equipment, Gross	199,638,615	205,508,641
Less accumulated depreciation and amortization (including $9,776,315 in 2014 and $7,781,281 in 2013 for VIEs)	34,260,586	31,695,129
Net Real estate and equipment	165,378,029	173,813,512
Property under construction (including $391,905 in 2014 and 2013 for VIEs)	1,401,846	613,200
Total Real estate and equipment, Net	166,779,875	174,426,712
Cash and cash equivalents (including $535,230 in 2014 and $2,052,427 in 2013 for VIEs)	6,500,885	8,346,956
Cash and cash equivalents - restricted (including $441,877 in 2014 and $412,518 in 2013 for VIEs)	769,231	1,272,924
Marketable securities (including $2,936,778 in 2014 and $1,424,072 in 2013 for VIEs)	4,906,248	4,846,778
Accounts and notes receivable, less allowance for doubtful accounts of $341,600 in 2014 and $508,700 in 2013 (including $87,049 in 2014 and $126,408 in 2013 for VIE’s)	4,266,706	3,684,774
Other receivables	16,842,826	8,744,470
Deposits and escrow accounts (including $1,768,581 in 2014 and $2,824,785 in 2013 for VIEs)	3,907,239	5,222,827
Prepaid expenses (including $223,453 in 2014 and $178,762 in 2013 for VIEs)	925,906	571,775
Deferred expenses, net (including $1,053,585 in 2014 and $1,091,734 in 2013 for VIEs)	3,103,178	2,983,819
Investment in affiliates	100	100
Due from related parties and affiliates	165,206	165,188
Total assets	208,167,400	210,266,323
Mortgages and other notes payable:	'	'
Construction loans payable	49,316,486	52,847,132
Mortgages payable (including $53,429,857 in 2014 and $54,335,209 in 2013 for VIEs)	148,308,158	146,327,723
Notes payable - other (including $1,704,697 in 2014 and 2013 for VIEs)	1,704,697	3,534,301
Total Mortgages and other notes payable	199,329,341	202,709,156
Accounts payable (including $488,140 in 2014 and $434,309 in 2013 for VIEs)	2,317,036	1,853,976
Other payables	14,845,606	6,832,367
Accrued liabilities (including $3,225,028 in 2014 and $2,648,075 in 2013 for VIEs)	5,467,707	4,866,430
Accrued cost of derivatives	2,411,173	3,656,380
Deferred income (including $247,856 in 2014 and 2013 for VIEs)	855,121	455,475
Other liabilities	1,911,832	2,198,045
Due to related parties and affiliates (including $399,214 in 2014 and $377,775 in 2013 for VIEs)	471,114	449,757
Total liabilities	227,608,930	223,021,586
Commitments and Contingencies	'	'
First Hartford Corporation	'	'
Preferred stock, $1 par value; $.50 cumulative and convertible; authorized 4,000,000 shares; no shares outstanding	0	0
Common stock, $1 par value; authorized 6,000,000 shares: issued 3,298,609 in 2014 and 2013, outstanding 2,412,002 and 2,416,825 in 2014 and 2013, respectively	3,298,609	3,298,609
Capital in excess of par	5,198,928	5,198,928
Accumulated deficit	-27,222,017	-22,553,780
Accumulated other comprehensive income (loss)	34,313	146,666
Treasury stock, at cost, 886,607 and 881,784 shares in 2014 and 2013, respectively	-4,964,884	-4,952,574
Total First Hartford Corporation	-23,655,051	-18,862,151
Noncontrolling interests	4,213,521	6,106,888
Total shareholders’ equity (deficiency)	-19,441,530	-12,755,263
Total liabilities and shareholders’ equity (deficiency)	$208,167,400	$210,266,323

CONSOLIDATED_BALANCE_SHEETS_Pa

CONSOLIDATED BALANCE SHEETS (Parenthetical) (USD $)	Apr. 30, 2014	Apr. 30, 2013
Real Estate Held-for-sale	$195,999,323	$202,050,054
Tenant Improvements	3,639,292	3,458,587
Real Estate Investment Property, Accumulated Depreciation	34,260,586	31,695,129
Development in Process	1,401,846	613,200
Cash and Cash Equivalents, at Carrying Value	6,500,885	8,346,956
Restricted Cash and Cash Equivalents	769,231	1,272,924
Marketable securities	4,906,248	4,846,778
Accounts and Receivable	4,266,706	3,684,774
Escrow Deposit	3,907,239	5,222,827
Prepaid Expense	925,906	571,775
Deferred Costs, Noncurrent	3,103,178	2,983,819
Loans Payable	148,308,158	146,327,723
Notes payable	1,704,697	3,534,301
Accounts Payable	2,317,036	1,853,976
Accrued Liabilities	5,467,707	4,866,430
Deferred Compensation Liability, Current and Noncurrent	855,121	455,475
Preferred Stock par value (in dollars per share)	$1	$1
Preferred stock, cumulative and convertible par value (in dollars per share)	$0.50	$0.50
Preferred Stock, shares authorized (in shares)	4,000,000	4,000,000
Preferred Stock, shares outstanding (in shares)	0	0
Common Stock, par value (in dollars per share)	$1	$1
Common Stock, shares authorized (in shares)	6,000,000	6,000,000
Common Stock, shares issued (in shares)	3,298,609	3,298,609
Common Stock, shares outstanding (in shares)	2,412,002	2,416,825
Treasury Stock at Cost, shares (in shares)	886,607	881,784
Variable Interest Entity, Primary Beneficiary [Member]	'	'
Real Estate Held-for-sale	71,182,200	70,735,840
Tenant Improvements	2,314,849	2,084,461
Real Estate Investment Property, Accumulated Depreciation	9,776,315	7,781,281
Development in Process	391,905	391,905
Cash and Cash Equivalents, at Carrying Value	535,230	2,052,427
Restricted Cash and Cash Equivalents	441,877	412,518
Marketable securities	2,936,778	1,424,072
Accounts and Receivable	87,049	126,408
Escrow Deposit	1,768,581	2,824,785
Allowance for Doubtful Accounts, Premiums and Other Receivables	341,600	508,700
Prepaid Expense	223,453	178,762
Deferred Costs, Noncurrent	1,053,585	1,091,734
Loans Payable	53,429,857	54,335,209
Notes payable	1,704,697	1,704,697
Accounts Payable	488,140	434,309
Accrued Liabilities	3,225,028	2,648,075
Deferred Compensation Liability, Current and Noncurrent	247,856	247,856
Due to Related parties and affiliates	$399,214	$377,775

CONSOLIDATED_STATEMENTS_OF_OPE

CONSOLIDATED STATEMENTS OF OPERATIONS (USD $)	12 Months Ended
	Apr. 30, 2014	Apr. 30, 2013
Revenues:	'	'
Rental income	$28,986,777	$28,276,204
Service income	5,895,313	7,540,019
Sales of real estate	4,562,596	2,385,000
Other income	1,614,637	826,357
Total Operating revenues	41,059,323	39,027,580
Operating costs and expenses:	'	'
Rental expenses (Includes depreciation and amortization of approximately $4,767,000 and $5,661,000 in 2014 and 2013, respectively	20,389,867	18,594,461
Service expenses	4,177,617	4,725,887
Cost of real estate sales	3,631,374	1,221,627
Selling, general and administrative expenses	5,374,666	4,717,697
Total Operating costs and expenses	33,573,524	29,259,672
Income from operations	7,485,799	9,767,908
Non-operating income (expense):	'	'
Equity in earnings of unconsolidated subsidiaries	423,713	434,372
Other income	719,709	655,990
Gain on derivatives	1,245,207	356,662
Loss on defeasance	-243,602	0
Loss on impairment	-4,027,573	0
Interest expense	-10,702,148	-11,024,267
Total Non-operating income (expense)	-12,584,694	-9,577,243
Income (loss) before income taxes	-5,098,895	190,665
Income taxes	48,872	64,985
Consolidated net income (loss)	-5,147,767	125,680
Net loss attributable to noncontrolling interests	479,030	33,279
Net income (loss) attributable to First Hartford Corporation	($4,668,737)	$158,959
Net income (loss) per share - basic (in dollars per share)	($1.93)	$0.07
Net income (loss) per share - diluted (in dollars per share)	($1.93)	$0.06
Shares used in basic per share computation (in shares)	2,413,452	2,418,286
Shares used in diluted per share computation (in shares)	2,413,452	2,521,227

CONSOLIDATED_STATEMENTS_OF_OPE1

CONSOLIDATED STATEMENTS OF OPERATIONS (Parenthetical) (USD $)	12 Months Ended
	Apr. 30, 2014	Apr. 30, 2013
Depreciation, Depletion and Amortization, Nonproduction	$4,767,000	$5,661,000

CONSOLIDATED_STATEMENTS_OF_COM

CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS) (USD $)	12 Months Ended
	Apr. 30, 2014	Apr. 30, 2013
Consolidated net income (loss)	($5,147,767)	$125,680
Other comprehensive income (loss), net of tax:	'	'
Unrealized gain (loss) on marketable securities	-202,728	330,960
Total comprehensive income (loss)	-5,350,495	456,640
Amounts Attributable to noncontrolling interests:	'	'
Net loss	479,030	33,279
Unrealized gain (loss) on marketable securities	90,375	-155,546
Total Amounts attributable to noncontrolling interests	569,405	-122,267
Comprehensive income (loss) attributable to First Hartford Corporation	($4,781,090)	$334,373

CONSOLIDATED_STATEMENTS_OF_CHA

CONSOLIDATED STATEMENTS OF CHANGES IN SHAREHOLDERS' DEFICIENCY [Equity] (USD $)	Total	Parent Company [Member]	Common Stock [Member]	Capital in Excess of Par [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive (Loss) Income [Member]		Treasury Stock [Member]	Noncontrolling Interest [Member]
Balance at Apr. 30, 2012	($17,625,961)	($19,189,015)	$3,298,609	$5,198,928	($22,714,515)	($28,748)	[1]	($4,943,289)	$1,563,054
Contributions from noncontrolling interests, net	5,066,944	0	0	0	0	0	[1]	0	5,066,944
Equity adjustment for reversing equity method	1,776	1,776	0	0	1,776	0	[1]	0	0
Distribution	-645,377	0	0	0	0	0	[1]	0	-645,377
Purchase of treasury stock	-9,285	-9,285	0	0	0	0	[1]	-9,285	0
Net income	158,959	158,959	0	0	158,959	0	[1]	0	-33,279
Unrealized gain (loss) on marketable securities	330,960	175,414	0	0	0	175,414	[1]	0	155,546
Balance at Apr. 30, 2013	-12,755,263	-18,862,151	3,298,609	5,198,928	-22,553,780	146,666	[1]	-4,952,574	6,106,888
Equity adjustment for reversing equity method	500	500	0	0	500	0	[1]	0	0
Distribution	-1,323,962	0	0	0	0	0	[1]	0	-1,323,962
Purchase of treasury stock	-12,310	-12,310	0	0	0	0	[1]	-12,310	0
Net income	-4,668,737	-4,668,737	0	0	-4,668,737	0	[1]	0	-479,030
Unrealized gain (loss) on marketable securities	-202,728	-112,353	0	0	0	-112,353	[1]	0	-90,375
Balance at Apr. 30, 2014	($19,441,530)	($23,655,051)	$3,298,609	$5,198,928	($27,222,017)	$34,313	[1]	($4,964,884)	$4,213,521
[1]	Consists exclusively of net unrealized gains (losses) on available-for-sale marketable securities.

CONSOLIDATED_STATEMENTS_OF_CAS

CONSOLIDATED STATEMENTS OF CASH FLOWS (USD $)	12 Months Ended
	Apr. 30, 2014	Apr. 30, 2013
Operating activities:	'	'
Consolidated net income (loss)	($5,147,767)	$125,680
Adjustments to reconcile consolidated net income (loss) to net cash provided by operating activities:	'	'
Equity in earnings of unconsolidated subsidiaries, net of distributions of $137,500 in 2014 and $178,500 in 2013	-286,213	-255,872
Gains on sale of real estate	-931,222	-1,163,373
Loss on impairment	4,027,573	0
Depreciation and amortization of real estate and equipment	5,090,421	5,223,066
Amortization of deferred expenses	441,346	514,823
Changes in operating assets and liabilities:	'	'
Accounts, notes and other receivables	-8,680,288	109,060
Deposits and escrow accounts	1,315,588	3,242,212
Prepaid expenses	-354,131	88,495
Deferred expenses	-560,705	-541,525
Cash and cash equivalents - restricted	503,693	-423,034
Accrued liabilities	601,277	-178,472
Accrued cost of derivatives	-1,245,207	-356,662
Deferred income	399,646	-25,203
Accounts and other payables	8,476,299	-422,377
Net cash provided by operating activities	3,650,310	5,936,818
Investing activities:	'	'
Investments in affiliates	0	-100
Investments in marketable securities	-2,672,740	-3,715,280
Proceeds from sale of marketable securities	2,410,542	1,206,430
Purchases of equipment and tenant improvements	-180,705	-515,714
Consolidation of formerly nonconsolidated entity	500	1,776
Proceeds from sales of real estate	4,562,596	2,385,000
Additions to developed properties and property under construction	-4,921,825	-4,877,528
Net cash used in investing activities	-801,632	-5,515,421
Financing activities:	'	'
Contributions from noncontrolling interests - limited partners	0	5,066,944
Purchase of treasury stock	-12,310	-9,285
Distribution to noncontrolling interests	-1,323,963	-645,377
Proceeds from:	'	'
Construction loans	1,178,517	3,510,210
Mortgages	495,258	21,886,960
Other notes	0	0
Principal payments on:	'	'
Construction loans	-2,115,231	-24,689,340
Mortgages	-2,938,359	-3,067,309
Other notes	0	-749,353
Advances to related parties and affiliates, net	21,339	22,784
Net cash (used in) provided by financing activities	-4,694,749	1,326,234
Net change in cash and cash equivalents	-1,846,071	1,747,631
Cash and cash equivalents, beginning of year	8,346,956	6,599,325
Cash and equivalents, end of year	6,500,885	8,346,956
Cash paid during the year for interest	10,914,243	10,324,633
Cash paid during the year for income taxes	$220,507	$147,942

CONSOLIDATED_STATEMENTS_OF_CAS1

CONSOLIDATED STATEMENTS OF CASH FLOWS (Parenthetical) (USD $)	12 Months Ended
	Apr. 30, 2014	Apr. 30, 2013
Equity in earnings of unconsolidated subsidiaries, net of distributions	$137,500	$178,500

Summary_of_Significant_Account

Summary of Significant Accounting Policies:	12 Months Ended
	Apr. 30, 2014
Accounting Policies [Abstract]	'
Significant Accounting Policies [Text Block]	'
	1.   Summary of Significant Accounting Policies:
	Description of Business
	First Hartford Corporation was incorporated in Maine in 1909 and is engaged in the purchase, development, ownership, management and sale of real estate, all of which is considered the “Real Estate Operation” segment.  The Company has a second segment “Fee for Service” in which the Company is engaged as a preferred developer for CVS and Cumberland Farms. (see Service Income to follow).
	Principles of Consolidation
	The accompanying consolidated financial statements include the accounts of First Hartford Corporation (the “Company”), its wholly-owned subsidiaries, and all other entities in which the Company has a controlling interest, including those where the Company has been determined to be a primary beneficiary of a variable interest entity or meets certain criteria as a sole general partner or managing member in accordance with the consolidation guidance of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification.  As such, included in the consolidated financial statements are the accounts of Rockland Place Apartments Limited Partnership and Clarendon Hill Somerville Limited Partnership.  The Company’s ownership percentage in these variable interest entity partnerships is nominal.  All intercompany balances and transactions have been eliminated in consolidation.
	Estimates
	The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.
	Financial Statement Presentation
	Because the Company is engaged in the development and sale of real estate at various stages of construction, the operating cycle may extend beyond one year.  Accordingly, following the usual practice of the real estate industry, the accompanying consolidated balance sheets are unclassified.
	Statements of Cash Flows
	For purposes of the statements of cash flows, the Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.
	Revenue Recognition
	Construction Revenue - The Company primarily develops real estate for its own use.  However, revenues from projects built for third parties are recognized on the percentage-of-completion method of accounting based on costs incurred to date in relation to total actual costs and estimated costs to complete.  Revisions in costs and profit estimates are reflected in operations during the accounting period in which the facts become known.  The Company provides for estimated losses on contracts in the year such losses become known.  Construction revenues were approximately $-0- and $1,966,000 for the years ended April 30, 2014 and 2013. Such revenues are included in service income and relate primarily to a single contract which was completed prior to April 30, 2013.
	Sales of Real Estate – The Company recognizes sales of real estate as revenue upon the transfer of title and when substantially all performance requisites have been fulfilled.  For the years ended April 30, 2014 and 2013, the Company had sales of approximately $4,562,000 and $2,385,000, respectively.  The cost of the property sold was approximately $3,631,000 and $1,221,000 for 2014 and 2013, respectively.  None of the property sold was otherwise providing cash flows to the Company.
	Rental Income – Rental income is recognized on a straight-line basis over the terms of the respective leases and consists of base rent and reimbursements for certain costs such as real estate taxes, utilities, insurance, common maintenance and other recoverable costs as provided in the lease agreements.  There are no contingent rents. If conditions of rent are not met, certain tenants may have rights to pay percentage rent not to exceed stated rent. Currently there is one tenant on percentage rent.
	Service Income
	The Company is party to a Preferred Developer Agreement with CVS.  Under this agreement, the Company’s fee for such services provided is recognized as earned when services, as outlined in the development agreement are provided. Fees earned related to the development of pharmacy stores for CVS during the years ended April 30, 2014 and 2013 were approximately $4,514,000 and $4,822,000 respectively, which is included in service income in the consolidated statements of operations.  The Company is also a party to a Preferred Developer Agreement with Cumberland Farms Inc. Fees earned during the years ended April 30, 2014 and April 30, 2013 were $675,000 and $130,000 respectively.
	The Company also provides management and maintenance services to others.  Fees for such services provided are recognized in service income as earned when services are provided.
	Other Receivables and Payables
	Pursuant to the Company’s Preferred Developer Agreement with CVS, the Company is obligated to fund allowable costs incurred in connection with the identification and development of new retail pharmacy stores for which it receives direct reimbursements from CVS.  Payables for allowable costs incurred in connection with these activities but not yet funded were $14,845,000 and $6,832,366 as of April 30, 2014 and 2013 respectively, and have been included as “other payables” in the consolidated balance sheets.  Related reimbursements due from CVS were $15,405,000 and $6,533,260 as of April 30, 2014 and 2013, respectively, and have been included in other receivables in the consolidated balance sheets.
	Cash and Cash Equivalents – Restricted
	Cash and cash equivalents – restricted, consist of funds received from CVS in connection with the Company’s Preferred Developer Agreement.  Such amounts are to be used for the payment of costs incurred by the Company for the development and construction of CVS retail pharmacy stores. The restricted cash also contains Tenant Security Deposits held by the VIEs.
	Developed Properties, Equipment and Tenant Improvements
	Developed properties, equipment and tenant improvements are recorded at cost.
	Depreciation and amortization are provided using the straight-line method based on the following estimated useful lives.
		Description	Years
		Developed properties	15 – 40
		Equipment	3 – 10
		Tenant improvements	Lesser of improvement life
			or lease term
	Expenditures for major renewals and betterments, which extend the useful lives of developed properties, equipment and tenant improvements, are capitalized.  Expenditures for maintenance and repairs are charged to operations as incurred.
	Property Under Construction
	The Company capitalizes costs directly associated with property under construction. Such costs include materials, construction labor and payroll cost, allocation of salaries and payroll cost from direct activities such as engineering, purchasing and legal and services provided by subcontractors. Material carrying costs for property taxes, insurance and interest are also capitalized during the period of active construction until construction is substantially complete.
	The Company capitalizes labor cost for direct work by offsite staff on specific projects.  In the year ended April 30, 2014, $-0- was capitalized.  For the year ended April 30, 2013 approximately $139,000 was capitalized.
	Deferred Expenses
	Expenditures directly related to real estate under consideration for development are deferred and included in deferred expenses in the consolidated balance sheets.  These costs include option payments, attorney’s fees, architect and engineering fees, consultants, etc., but only to the extent they are from outside sources.  If development of the real estate commences, all of the accumulated costs are reclassified to property under construction in the consolidated balance sheets.  If the project is later abandoned, all of the accumulated costs are charged to expense.
	Leasing costs incurred, primarily commissions, are capitalized for signed leases.  Financing costs including legal fees and other costs relating to the acquisition of debt financing are deferred.  Leasing and deferred financing costs are included in deferred expenses in the accompanying consolidated balance sheets.  Such costs are amortized using the straight-line method over the terms of the related leases and debt, respectively.  The unamortized balance of such cost was $2,366,155 and $2,720,341 as of April 30, 2014 and 2013, respectively.  Amortization expense was $441,342 and $514,823 for the years ended April 30, 2014 and 2013, respectively.
	Amortization expense for the next five years is expected to be as follows:
	Year Ending April 30
	2015	$332,789
	2016	261,163
	2017	251,635
	2018	221,319
	2019	170,804
	Thereafter	1,128,445
	Total	$2,366,155
	Investment in Affiliated Entities
	The Company has an investment in an affiliated limited liability entity Dover Parkade, LLC, (“Dover”).  The Company has a 50% interest in “Dover” which owns a shopping center in Dover Township, NJ.  The operating and financial policies of “Dover” are not controlled by the Company.  For the years prior to May 1, 2009, the Company was committed to provide funding to this equity method investee.  The Company’s investment was recorded at cost and subsequently adjusted for its share of their net income and losses and distributions. Since 2009, the Company has not increased its negative investment but has begun to record distributions to income. The resulting carrying value of this investment ($1,911,833) as of April 30, 2014 and ($2,198,046) as of April 30, 2013 is included in other liabilities.
	On October 4, 2011, the Company entered into a partnership with a nonprofit entity which purchased a 99 year leasehold interest in a 200 unit subsidized housing project in Claymont, Delaware.  The Company is a non-controlling .01% limited partner in the entity.  The Company’s investment is carried at cost of $100. A subsidiary of the Company is the managing agent.
	The Company recorded equity in earnings of unconsolidated subsidiaries of $423,713 and $434,372 for the years ended April 30, 2014 and 2013, respectively.
	Fair Value Measurements
	Certain assets and liabilities are presented at fair value on a recurring basis.  In addition, fair values are disclosed for certain other assets and liabilities.  In all cases, fair value is determined using valuation techniques based on a hierarchy of inputs.  A summary of the hierarchy follows:
		⋅	Level 1 –	Quoted prices in active markets that are unadjusted and accessible at the measurement date for identical, unrestricted assets or liabilities.
		⋅	Level 2 –	Quoted prices for identical assets and liabilities in markets that are not active, quoted prices for similar assets and liabilities in active markets or financial instruments for which significant observable inputs are available, either directly or indirectly such as interest rates and yield curves that are observable at commonly quoted intervals; and
		⋅	Level 3 –	Prices or valuations that require inputs that are unobservable.
	In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy.  In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety.  The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability.
	The Company’s financial instruments include cash and cash equivalents, accounts receivable, marketable securities, accounts payable, accrued expenses and debt.  The fair values of accounts receivable, accounts payable and accrued expenses are estimated to approximate their carrying amounts because of their relative short-term nature.  In general, the carrying amount of variable rate debt approximates its fair value.  Further, the carrying amount of fixed rate debt approximates fair value debt since the interest rates on the debt approximates the Company’s current incremental borrowing rate.  Information about the fair values of marketable securities and derivative liabilities is presented below.
	Level 1
	Marketable Securities – Common and Preferred Stocks
	The Company determines the appropriate classifications of its investments in marketable debt and equity securities at the time of purchase and re-evaluates such determinations at each balance sheet date.  As of April 30, 2014 and 2013, investments consist of equity securities, which are classified as available for sale.  Investments in marketable securities are stated at fair value.  Fair value for marketable securities is based on the last sale of the period obtained from recognized stock exchanges (i.e. Level 1).  Net unrealized holding gains and temporary losses on equity securities are included as a separate component of the deficiency. Net unrealized losses of $202,728 as of April 30, 2014 and gains of $330,960 as of April 30, 2013 are included in accumulated other comprehensive (loss) income. Gains or losses on securities sold are based on the specific identification method.
	Level 2
	Derivative Instruments
	During fiscal year 2006, the Company entered into two separate floating-to-fixed interest rate swap agreements with a bank which expire in June 2015 and July 2031.  The Company has determined that these derivative instruments do not meet the requirements of hedge accounting and have therefore recorded the change in fair value of these derivative instruments through income in the consolidated statement of operations.  The gain on derivatives incurred during the years ended April 30, 2014 and 2013 totaled $1,245,207 and $356,662, respectively, and the Company has recorded a liability of $2,411,173 and $3,656,380 in the consolidated balance sheets, which represents the fair value of the interest rate swaps as of April 30, 2014 and 2013, respectively.
Level 3
Debt
A VIE of the Company assumed a third mortgage note with MHFA on November 1, 2006, having a balance of $18,315,482. The note bears interest at the rate of 5.36% per annum. The VIE has the right to purchase the note upon maturity for the fair value of the note as determined by an appraiser. The mortgage loan was recorded at its estimated fair value on the date of acquisition. The fair value of the third mortgage note has been determined based on the fair value of the property on the acquisition date less the primary loan balances. The third mortgage note is revalued at each reporting period. As of April 30, 2014, the carrying amount of the loan was $1,828,910.
There have been no significant transfers between Level 1 and Level 2.
Long-Lived Assets
Long-lived assets held and used in operations are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amount might not be recovered.
The Company presents operations related to developed properties that have been sold or developed properties that are intended to be sold as discontinued operations.  Developed properties intended to be sold are designated as “held for sale” on the consolidated balance sheets.  No developed properties were sold during the years ended April 30, 2014 or 2013 and none are designated as held for sale at year end.
Income Taxes
Deferred income taxes are provided on the differences between the financial statement and income tax bases of assets and liabilities and on net operating loss carryforwards using the enacted tax rates.
A valuation allowance is provided for deferred income tax assets for which realization is not likely in the near term.
As of April 30, 2014 and 2013, the Company has no significant uncertain income tax positions.  The Company recognizes interest and penalties on any uncertain income tax positions as a component of income tax expense.
The State of Massachusetts last concluded an audit for the years ended April 30, 2008 and 2009. In addition, the Internal Revenue Service conducted an audit for the year ended April 30, 2010.  The Company received a notice from the Internal Revenue Service dated November 29, 2012 that the Service has completed its examination of the Company’s Federal income tax return for the period ended April 30, 2010.  The examination resulted in no change in reported tax.  The determination does not include any partnerships in which the Company has an interest.  Otherwise, tax returns for fiscal years after 2010 are open to examination by Federal, local and state authorities.
The Company follows FASB ASC 740-10 which clarifies the accounting for uncertainty in income taxes recognized in financial statements and prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. After review of the Company’s tax positions, no liabilities were recorded for unrecognized tax benefits as of April 30, 2014 or 2013.
The Company recognizes interest accrued related to unrecognized tax benefits, if any, in interest expense and penalties in operating expense. During the years ended April 30, 2014 and 2013, the Company did not recognize any interest or penalties related to unrecognized tax benefits.
Stock Compensation
Share-based compensation cost is measured at the grant date, based on the calculated fair value of the award, and is recognized as an expense over the employee’s requisite service period (generally the vesting period of the equity grant).
Earnings (loss) per share (EPS)
Basic earnings (loss) per share amounts are determined using the weighted-average outstanding common shares for the year.  Diluted earnings (loss) per share amounts include the weighted-average outstanding common shares as well as potentially dilutive common stock options and warrants using the “treasury stock” method. There were no options outstanding at April 30, 2014. For the year ended April 30, 2013, the effect for the dilutive options outstanding was 102,941 shares.
New Accounting Pronouncements
In April 2014, the FASB issued amendments to guidance for reporting discontinued operations and disposals of components of an entity. The amended guidance requires that a disposal representing a strategic shift that has (or will have) a major effect on an entity’s financial results or a business activity classified as held for sale should be reported as discontinued operations. The amendments also expand the disclosure requirements for discontinued operations and add new disclosures for individually significant dispositions that do not qualify as discontinued operations. The amendments are effective prospectively for fiscal years, and interim reporting periods within those years, beginning after December 15, 2014 (early adoption is permitted only for disposals that have not been previously reported). The implementation of the amended guidance is not expected to have a material impact on the Company's consolidated financial statements.
In May 2014, the FASB issued a standard on revenue recognition providing a single, comprehensive revenue recognition model for all contracts with customers.  The revenue standard is based on the principle that revenue should be recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration of which the entity expects to be entitled in exchanged for those goods or services. The standard is effective beginning January 1, 2017, with no early adoption permitted.  The amendments may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of initial application.  We are currently evaluating the adoption method options and the impact of the new guidance on our consolidated financial statements.

Consolidated_Variable_Interest

Consolidated Variable Interest Entities	12 Months Ended
	Apr. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Variable Interest Entity Disclosure [Text Block]	'
	2.   Consolidated Variable Interest Entities
	The Company’s consolidated financial statements include the accounts of Rockland Place Apartments Limited Partnership (“Rockland”), Clarendon Hill Somerville Limited Partnership (“Clarendon”) and Trolley Barn Associates, LLC (“Trolley Barn”).  The Company has consolidated Rockland, Clarendon and Trolley Barn based on the express legal rights and obligations provided to it by the underlying partnership agreements and its control of their business activity.
	Connolly and Partners, LLC (75% owned by the Company) has a .01% ownership interest in and is a general partner of Rockland.  Connolly and Partners, LLC also owns 49% of Clarendon Hill Somerville, LLC which owns .01% of and is the general partner of Clarendon.  Trolley Barn is 50% owned by the Company.
	Rockland owns and operates a rental housing project consisting of 204 units located in Rockland, Massachusetts.  Clarendon owns and operates a 501 unit apartment complex in Somerville, Massachusetts.  Both projects were renovated and are managed by the Company.  Renovation costs were financed with loans from Massachusetts Housing Finance Agency (MHFA), subsidies from U.S. Department of Housing and Urban Development (HUD) and limited partner capital contributions.
	Each building of the projects qualifies for low-income housing credits pursuant to Internal Revenue Code Section 42 (“Section 42”), which regulates the use of the projects as to occupant eligibility and unit gross rent, among other requirements.  Each building of the projects must meet the provisions of these regulations during each of fifteen consecutive years in order to remain qualified to receive the credits.  In addition, Rockland and Clarendon have executed an Extended Low-Income Housing Agreement, which requires the utilization of each project pursuant to Section 42 through the compliance period, even if Rockland or Clarendon disposes of the project.
	Each project’s low-income housing credits are contingent on its ability to maintain compliance with applicable sections of Section 42.  Failure to maintain compliance with occupant eligibility, and/or unit gross rent, or to correct noncompliance within a specified time period could result in recapture of previously taken tax credits plus interest.  In addition, such potential noncompliance may result in an adjustment to the capital contributed by the investment limited partner.
	Rockland has an agreement with the Rockland Housing Authority whereby the Housing Authority has the option to purchase the property, after the 15-year tax credit compliant period on January 1, 2024, from Rockland.  The option price is based on a specified formula in the agreement.
	Clarendon has an agreement with the 51% owner of Clarendon Hill Somerville, LLC, Clarendon Hill Towers Tenant Association, LLC (“CHTTA”), whereby CHTTA has an option to purchase the property after the 15 year tax credit compliance period from the partnership.  The option price is the greater of:
	a.       Outstanding debt and taxes, or
	b.      Fair market value of the property
	The assets at April 30, 2014 and 2013 of the consolidated VIEs (Rockland and Clarendon), that can be used only to settle their obligations and their liabilities for which creditors (or beneficial interest holders) do not have recourse to the general credit of the Company are shown parenthetically in the line items of the consolidated balance sheets.
	A summary of the assets and liabilities of Rockland and Clarendon included in the Company’s consolidated balance sheets as follows:
		April  30
		2014	2013
	Real estate and equipment, net	$66,786,598	$68,084,169
	Other assets	7,060,316	8,096,778
	Total assets	73,846,914	76,180,947
	Intercompany profit elimination	-3,085,303	(3,045,149)
	Consolidated	$70,761,611	$73,135,798
	Mortgages and other notes payable	$55,134,554	$56,039,906
	Other liabilities	3,961,024	3,330,240
	Total liabilities	$59,095,578	$59,370,146
	Substantially all assets of Rockland and Clarendon are pledged as collateral for its debt. The recourse of the holders of the mortgages and other notes payable is limited to the assets of Rockland and Clarendon. Combined revenues for Rockland and Clarendon were $11,160,723 for the year ended April 30, 2014 and $11,105,125 for the year ended April 30, 2013. The combined net loss for Rockland and Clarendon was $1,920,508 for the year ended April 30, 2014 and $1,073,416 for the year ended April 30, 2013. Since the Company’s ownership interest in both entities is nominal, substantially all of such losses are allocated to the noncontrolling interests in the consolidated financial statements.
	Trolley Barn’s only asset is approximately seven acres of land in Cranston, RI.

Construction_Loans_Mortgages_a

Construction Loans, Mortgages and Notes Payable:	12 Months Ended
	Apr. 30, 2014
Debt Disclosure [Abstract]	'
Debt Disclosure [Text Block]	'
	3.   Construction Loans, Mortgages and Notes Payable:
	Information about the Company’s debt follows:
		2014	2013
	Construction loans and mortgages payable with interest rates ranging from
	zero to 11.00% at April 30, 2014 and 2013 and maturities at various dates through 2056.	$197,624,644	$199,174,855
	Notes payable on Clarendon with interest rates ranging from zero to 4.40% at
	April 30, 2014 and 2013 and maturities ranging from 2030 to 2050.	1,704,697	1,704,697
	Note and pre-judgment interest payable to Richard E. Kaplan
	Paid in full by October 4, 2013.	-0-	1,829,604
		$199,329,341	$202,709,156
	No interest was capitalized for the years ended April 30, 2014 and 2013, as the amounts were not material.
	Aggregate principal payments due on the above debt for each of the years succeeding April 30, 2014 are as follows:
	Year Ending April 30
	2015	$8,976,546
	2016	42,140,790
	2017	2,534,102
	2018	13,215,975
	2019	2,482,552
	Thereafter	129,979,376
		$199,329,341
	Substantially all real estate owned is pledged as collateral for construction and mortgage loans.

Public_Infrastructure_Reimburs

Public Infrastructure Reimbursements and Other Incentives:	12 Months Ended
	Apr. 30, 2014
Public Infrastructure Reimbursements and Other Incentives [Abstract]	'
Public Infrastructure Reimbursements and Other Incentives [Text Block]	'
	4.   Public Infrastructure Reimbursements and Other Incentives:
	In connection with the Company’s development and construction of a shopping center owned and operated by the Company in the City of Edinburg, Texas, the Company entered into an Economic Development Agreement dated February 20, 2007 with the City of Edinburg and other local non-profit corporations.  In connection with the agreement, the Company receives reimbursements of public infrastructure costs incurred by the Company in addition to other cash incentives.
	Public Infrastructure Reimbursements
	During the year ended April 30, 2010, the Company recognized a receivable from the City of Edinburg and reduction of the cost of the shopping center of $8,000,000 for the reimbursement of eligible public infrastructure costs incurred by the Company.  The reimbursement is payable solely by the City of Edinburg from proceeds of public infrastructure bonds and/or from proceeds from 50% of the City’s dedicated 1% sales tax generated from the shopping center.  The Company has received $6,211,533 in reimbursements of eligible public infrastructure costs through April 30, 2014.  The remaining receivable of $1,788,467 is included in other receivables at April 30, 2014.  The remaining receivable will be collected from the proceeds from the issuance of additional public infrastructure bonds by the City of Edinburg or collection of sales tax.
	Other Cash Incentives
	In connection with the agreements, the Company also receives contributions from the Edinburg Economic Development Corporation (“EEDC”) of up to $4,000,000 as its .5% share of sales tax revenue generated from the shopping center.  Such nonreciprocal transfers of the Company’s share of sales taxes generated are recorded by the Company as other operating revenue when received.  The Company received $422,793 and $383,155 from the EEDC for the years ended April 30, 2014 and 2013, respectively.

Pledge_of_Stock_in_Subsidiarie

Pledge of Stock in Subsidiaries:	12 Months Ended
	Apr. 30, 2014
Debt Disclosure [Abstract]	'
Pledge Of Stock In Subsidiaries [Text Block]	'
	5.   Pledge of Stock in Subsidiaries:
	For an extended period of time the Company was unable to obtain financing (secured or unsecured) without the personal guarantees of the President of the Company.  To some degree, the Company has recently been able to obtain financing without a guarantee, but generally guarantees continue to be a necessary component to most construction loans.  In the past, the Company has provided pledges of the stock of its subsidiaries to the President of the Company as protection from personal losses due to his guarantees.  These pledges are expected to stay in place until the guarantees are eliminated.
	The President of the Company has guaranteed the following outstanding amounts at April 30, 2014:
	Loan for Career Education building -
	5% of loan balance outstanding	$490,000
	Construction loan – Edinburg, Texas	$48,232,000
	In the event that the President is called upon to pay on any of the above guarantees, the Company would become liable to him.

Related_Party_Transactions

Related Party Transactions:	12 Months Ended
	Apr. 30, 2014
Related Party Transactions [Abstract]	'
Related Party Transactions Disclosure [Text Block]	'
	6.   Related Party Transactions:
	Amounts included in revenue resulting from transactions with Journal Publishing Inc., a company which is owned by the President of the Company and his wife are as follows:
		2014	2013
	Service Fees	$18,440	$11,223
	Total	$18,440	$11,223
	Included in amounts due from related parties and affiliates is approximately $157,000 at April 30, 2014 and 2013. This relates to funds borrowed from Hartford Lubbock Limited Partnership by Green Manor Corp., which owns Journal Publishing, which owns 98.01% of Hartford Lubbock Limited Partnership. These funds were borrowed some years ago (prior to consolidation).
	Included in amounts due to related parties and affiliates is approximately $471,000 and $450,000 payable to Cranston Brewery LLC at April 30, 2014 and 2013, respectively. Cranston Brewery LLC is an affiliate but not owned by the Company. The amount due represents their investment in Trolley Barn Associates (50%). The Company’s advances were eliminated in consolidation.

Stock_Option_Plan

Stock Option Plan:	12 Months Ended
	Apr. 30, 2014
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]	'
Disclosure of Compensation Related Costs, Share-based Payments [Text Block]	'
	7.   Stock Option Plan:
	On February 11, 2004, the Company adopted a stock option plan providing for the grant of up to 1,000,000 shares.  The Company granted options to purchase an aggregate of 250,000 shares to five employees, two of whom are directors.  The options, which have a two year vesting period, were granted at $1.10 per share.  The right to exercise the option expired February 11, 2014.  The options included a “put option” that requires the Company to purchase the exercised shares for $1.30 in excess of the grant price.  The cost of the deferred stock compensation was $325,000, which has been expensed fully in prior periods.  On February 10, 2011, the put options expiration date was extended to February 11, 2014.  On February 11, 2014, all options were unexercised and expired unused.
	As of April 30, 2013 however, 250,000 options were outstanding and exercisable at a weighted average exercise price of $1.10 a share. During the years ended April 30, 2014 and 2013, no options were granted or exercised.  All options granted vested prior to May 1, 2009. As such, there was no compensation expense for the year ended April 30, 2013.  The aggregate intrinsic value of outstanding options as of April 30, 2013, was approximately $325,000.

Employee_Retirement_Plan

Employee Retirement Plan:	12 Months Ended
	Apr. 30, 2014
Compensation and Retirement Disclosure [Abstract]	'
Pension and Other Postretirement Benefits Disclosure [Text Block]	'
	8.   Employee Retirement Plan:
	The Company has adopted a SIMPLE IRA.  Under this plan, all employees over 18 years of age, working at least 30 hours weekly are eligible to participate.  Participants are eligible to defer earnings to the extent of IRS regulations.  The Company matches up to 3% of each participating employee’s annual salary.  Pension expense was $70,729 and $69,073 for the years ended April 30, 2014 and 2013, respectively.

Impairment_Loss

Impairment Loss:	12 Months Ended
	Apr. 30, 2014
Impairment Loss [Abstract]	'
Asset Impairment Charges [Text Block]	'
	9.     Impairment Loss:
	In conjunction with preparing its fiscal year 2014 financial statements the Company determined that the carrying value of a shopping center in North Adams, Massachusetts owned by its 100% owned subsidiary, Main Street NA Parkade LLC was impaired. The continuing overall economic decline in the geographical area and retail industry thwarted the Company’s efforts to replace terminating tenants and generate sufficient cash flows to recover the carrying amount of the shopping center. The carrying value of the shopping center exceeded its estimated fair value by $4,027,573 and was written down to $7,260,000. This impairment loss is included in the operating results for the Company’s “Real Estate Operations” segment.  There was no impairment loss for fiscal 2013.
	The Company is currently negotiating with the representative of the holder of the nonrecourse mortgage debt on the shopping center. If mutually agreeable and financially feasible terms cannot be reached the Company may exchange the shopping center in satisfaction of the debt. The fair value of the shopping center as of April 30, 2014 is $7,260,000 and the carrying value of the related debt is $12,575,423.  Fair value was estimated on an “as is” basis using primarily discounted cash flows.

Income_Taxes

Income Taxes:	12 Months Ended
	Apr. 30, 2014
Income Tax Disclosure [Abstract]	'
Income Tax Disclosure [Text Block]	'
	10.  Income Taxes:
	The provision for income taxes consists of:
		2014	2013
	Current state income taxes	$38,535	$64,985
	Federal – alternative minimum tax	10,337	-0-
		$48,535	$64,985
	The components of the net deferred income tax asset follow:
	Tax effect of net operating loss carry-forwards	$5,051,000	$4,909,000
	Valuation allowance	-5,051,000	(4,909,000)
		$-0-	$-0-
	The Company has Federal net operating loss carry-forwards in excess of $15,000,000 at April 30, 2014 that are available to offset future Federal taxable income through various periods expiring between 2016 and 2028. The Company has recorded $5,051,000 as the potential tax effect, but has also recorded a valuation allowance which reduces the net deferred tax asset to $0.
	A reconciliation of the provision for income taxes with amounts determined by applying the statutory U.S. Federal income tax rate before income taxes is as follows:
		2014		2013
	Federal statutory rate (34%)	($1,733,000)		$52,000
	Nondeductible loss on impairment	1,369,000		-0-
	State tax – net of Federal effect	38,535		43,000
	Change in valuation allowance on deferred tax assets	142,000		-0-
	Losses attributable to noncontrolling interests	163,000		37,000
	Other	69,337		-67,000
	Provision for income taxes		$48,872	$65,000

Leases

Leases:	12 Months Ended
	Apr. 30, 2014
Leases [Abstract]	'
Leases of Lessor Disclosure [Text Block]	'
	11.   Leases:
	The Company leases commercial and residential real estate to tenants under various operating leases expiring through 2027.
	Minimum future rentals to be received on non-cancellable commercial real estate leases as of April 30, 2014 are as follows:
	Year Ending April 30
	2015	$13,481,932
	2016	13,037,178
	2017	12,112,400
	2018	10,928,340
	2019	9,509,831
	Thereafter	40,234,132
	Total	$99,303,813

Investments_in_Affiliates

Investments in Affiliates:	12 Months Ended
	Apr. 30, 2014
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]	'
Investments in and Advances to Affiliates, Schedule of Investments [Text Block]	'
	12.  Investments in Affiliates:
	Summarized financial and other information for the Company’s investment in Dover Parkade LLC (Dover) follows:
	Dover – New Jersey:
	As of and for the years ended April 30
	Company ownership – 50% investment at inception was $147,500.
		2014	2013
	Assets	$13,370,323	$12,864,049
	Liabilities	18,530,850	18,322,003
	Members’ deficit	-5,160,527	-5,457,954
	Revenue	2,601,195	2,600,929
	Operating expenses	1,305,066	1,103,289
	Non-operating expense, net	-723,702	-985,902
	Net income	572,427	511,738
	Dover’s major tenant is Stop & Shop, which provided 55% and 55% of the total revenue in both 2014 and 2013 under a lease that expires June 30, 2026.

Concentrations_of_Credit_Risk

Concentrations of Credit Risk:	12 Months Ended
	Apr. 30, 2014
Risks and Uncertainties [Abstract]	'
Concentration Risk Disclosure [Text Block]	'
	13.   Concentrations of Credit Risk:
	The Company’s financial instruments that are subject to concentrations of credit risk consist of cash and cash equivalents, marketable securities, and accounts, notes and other receivables.
	The Company places its cash deposits, including investments in certificates of deposit, with various financial institutions.  Bank deposits may be in excess of current Federal depository insurance limits.
	The Company has one customer which accounts for more than 10% of the Company's revenue in both 2014 and 2013.
	The Company assesses the financial strength of its tenants prior to executing leases and typically requires a security deposit and prepayment of rent.  The Company establishes an allowance for doubtful accounts receivable based upon factors surrounding the credit risk of specific tenants, historical trends and other information.
	The Company assesses the financial strength of CVS prior to incurring costs in connection with the development of CVS pharmacy stores.  Based on historical experience and other information, no allowance for doubtful accounts related to these receivables is considered necessary by management as of April 30, 2014 or 2013.

Segment_Information

Segment Information:	12 Months Ended
	Apr. 30, 2014
Segment Reporting [Abstract]	'
Segment Reporting Disclosure [Text Block]	'
	14.   Segment Information:
	The factors used by the Company to identify reportable segments include differences in products and services and segregated operations within the Company. The first segment, “Real Estate Operations” participates in the purchase, development, management, ownership and the sale of real estate.  Within its second segment, “Fee for Service”, the Company provides preferred developer services to CVS and Cumberland Farms Inc. in certain geographic areas. Summary financial information for the two reportable segments is approximately as follows:
		2014	2013
	Revenues:
	Real Estate Operations	$35,872,000	$34,075,000
	Fee for Service	5,187,000	4,952,000
	TOTAL	$41,059,000	$39,027,000
	Operating Cost and Expense:
	Real Estate Operations	$24,021,000	$21,519,000
	Fee for Service	4,177,000	3,353,000
	Administrative Expenses	5,375,000	4,388,000
	TOTAL	$33,573,000	$29,260,000
	All costs after administrative expenses are cost of the real estate operation.
	The only assets in the balance sheet belonging to the Fee for Service segment is restricted cash of  $351,000 in 2014 and $860,000 in 2013 and receivables of  $15,054,000 in 2014 and $6,533,000 in 2013.

Subsequent_Events

Subsequent Events:	12 Months Ended
	Apr. 30, 2014
Subsequent Events [Abstract]	'
Subsequent Events [Text Block]	'
	15.  Subsequent Events:
	On July 9, 2014 Dover Parkade LLC (a 50% owned non-controlled subsidiary of the Company) refinanced the mortgage on their shopping center in Toms River, N.J. in the amount of $20,000,000.  A prior mortgage with a remaining balance of approximately $17,485,000 with an interest rate of 5.358% was paid from the proceeds.  A defeasance cost of approximately $775,000 and closing cost of approximately $236,000 was paid as well.  The new mortgage has an interest rate of 4.16% with a 30 year amortization and a duration of 10 years.  Transaction cost will be amortized over the life of the loan but the defeasance cost will be written off in the quarter ended July 31, 2014.
	On August 15, 2014 the Company refinanced the mortgage on their shopping center in West Springfield, MA in the amount of $10,500,000.  A prior mortgage with a remaining balance of $7,815,897 with an interest rate of 5.52% was paid from the proceeds.  The new mortgage has an interest rate of 4.60% with a 30 year amortization and a duration of 10 years, calls for interest only for the first two years.  Transaction cost of approximately $110,000 will be amortized over the life of the loan.

Summary_of_Significant_Account1

Summary of Significant Accounting Policies: (Policies)	12 Months Ended
	Apr. 30, 2014
Accounting Policies [Abstract]	'
Business Combinations Policy [Policy Text Block]	'
	Description of Business
	First Hartford Corporation was incorporated in Maine in 1909 and is engaged in the purchase, development, ownership, management and sale of real estate, all of which is considered the “Real Estate Operation” segment.  The Company has a second segment “Fee for Service” in which the Company is engaged as a preferred developer for CVS and Cumberland Farms. (see Service Income to follow).
Consolidation, Policy [Policy Text Block]	'
	Principles of Consolidation
	The accompanying consolidated financial statements include the accounts of First Hartford Corporation (the “Company”), its wholly-owned subsidiaries, and all other entities in which the Company has a controlling interest, including those where the Company has been determined to be a primary beneficiary of a variable interest entity or meets certain criteria as a sole general partner or managing member in accordance with the consolidation guidance of the Financial Accounting Standards Board (“FASB”) Accounting Standards Codification.  As such, included in the consolidated financial statements are the accounts of Rockland Place Apartments Limited Partnership and Clarendon Hill Somerville Limited Partnership.  The Company’s ownership percentage in these variable interest entity partnerships is nominal.  All intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates, Policy [Policy Text Block]	'
	Estimates
	The preparation of consolidated financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities as of the date of the financial statements, and the reported amounts of revenues and expenses during the reporting period.  Actual results could differ from those estimates.
Basis of Accounting, Policy [Policy Text Block]	'
	Financial Statement Presentation
	Because the Company is engaged in the development and sale of real estate at various stages of construction, the operating cycle may extend beyond one year.  Accordingly, following the usual practice of the real estate industry, the accompanying consolidated balance sheets are unclassified.
Liquidity Disclosure [Policy Text Block]	'
	Statements of Cash Flows
	For purposes of the statements of cash flows, the Company considers all highly liquid investments purchased with an original maturity of three months or less to be cash equivalents.
Revenue Recognition, Policy [Policy Text Block]	'
	Revenue Recognition
	Construction Revenue - The Company primarily develops real estate for its own use.  However, revenues from projects built for third parties are recognized on the percentage-of-completion method of accounting based on costs incurred to date in relation to total actual costs and estimated costs to complete.  Revisions in costs and profit estimates are reflected in operations during the accounting period in which the facts become known.  The Company provides for estimated losses on contracts in the year such losses become known.  Construction revenues were approximately $-0- and $1,966,000 for the years ended April 30, 2014 and 2013. Such revenues are included in service income and relate primarily to a single contract which was completed prior to April 30, 2013.
	Sales of Real Estate – The Company recognizes sales of real estate as revenue upon the transfer of title and when substantially all performance requisites have been fulfilled.  For the years ended April 30, 2014 and 2013, the Company had sales of approximately $4,562,000 and $2,385,000, respectively.  The cost of the property sold was approximately $3,631,000 and $1,221,000 for 2014 and 2013, respectively.  None of the property sold was otherwise providing cash flows to the Company.
	Rental Income – Rental income is recognized on a straight-line basis over the terms of the respective leases and consists of base rent and reimbursements for certain costs such as real estate taxes, utilities, insurance, common maintenance and other recoverable costs as provided in the lease agreements.  There are no contingent rents. If conditions of rent are not met, certain tenants may have rights to pay percentage rent not to exceed stated rent. Currently there is one tenant on percentage rent.
Revenue Recognition, Sales of Services [Policy Text Block]	'
	Service Income
	The Company is party to a Preferred Developer Agreement with CVS.  Under this agreement, the Company’s fee for such services provided is recognized as earned when services, as outlined in the development agreement are provided. Fees earned related to the development of pharmacy stores for CVS during the years ended April 30, 2014 and 2013 were approximately $4,514,000 and $4,822,000 respectively, which is included in service income in the consolidated statements of operations.  The Company is also a party to a Preferred Developer Agreement with Cumberland Farms Inc. Fees earned during the years ended April 30, 2014 and April 30, 2013 were $675,000 and $130,000 respectively.
	The Company also provides management and maintenance services to others.  Fees for such services provided are recognized in service income as earned when services are provided
Receivables, Policy [Policy Text Block]	'
	Other Receivables and Payables
	Pursuant to the Company’s Preferred Developer Agreement with CVS, the Company is obligated to fund allowable costs incurred in connection with the identification and development of new retail pharmacy stores for which it receives direct reimbursements from CVS.  Payables for allowable costs incurred in connection with these activities but not yet funded were $14,845,000 and $6,832,366 as of April 30, 2014 and 2013 respectively, and have been included as “other payables” in the consolidated balance sheets.  Related reimbursements due from CVS were $15,405,000 and $6,533,260 as of April 30, 2014 and 2013, respectively, and have been included in other receivables in the consolidated balance sheets.
Cash and Cash Equivalents, Restricted Cash and Cash Equivalents, Policy [Policy Text Block]	'
	Cash and Cash Equivalents – Restricted
	Cash and cash equivalents – restricted, consist of funds received from CVS in connection with the Company’s Preferred Developer Agreement.  Such amounts are to be used for the payment of costs incurred by the Company for the development and construction of CVS retail pharmacy stores. The restricted cash also contains Tenant Security Deposits held by the VIEs.
Real Estate Held for Development and Sale, Policy [Policy Text Block]	'
	Developed Properties, Equipment and Tenant Improvements
	Developed properties, equipment and tenant improvements are recorded at cost.
	Depreciation and amortization are provided using the straight-line method based on the following estimated useful lives.
		Description	Years
		Developed properties	15 – 40
		Equipment	3 – 10
		Tenant improvements	Lesser of improvement life
			or lease term
	Expenditures for major renewals and betterments, which extend the useful lives of developed properties, equipment and tenant improvements, are capitalized.  Expenditures for maintenance and repairs are charged to operations as incurred.
Property, Plant and Equipment, Preproduction Design and Development Costs [Policy Text Block]	'
	Property Under Construction
	The Company capitalizes costs directly associated with property under construction. Such costs include materials, construction labor and payroll cost, allocation of salaries and payroll cost from direct activities such as engineering, purchasing and legal and services provided by subcontractors. Material carrying costs for property taxes, insurance and interest are also capitalized during the period of active construction until construction is substantially complete.
	The Company capitalizes labor cost for direct work by offsite staff on specific projects.  In the year ended April 30, 2014, $-0- was capitalized.  For the year ended April 30, 2013 approximately $139,000 was capitalized.
Deferred Charges, Policy [Policy Text Block]	'
	Deferred Expenses
	Expenditures directly related to real estate under consideration for development are deferred and included in deferred expenses in the consolidated balance sheets.  These costs include option payments, attorney’s fees, architect and engineering fees, consultants, etc., but only to the extent they are from outside sources.  If development of the real estate commences, all of the accumulated costs are reclassified to property under construction in the consolidated balance sheets.  If the project is later abandoned, all of the accumulated costs are charged to expense.
	Leasing costs incurred, primarily commissions, are capitalized for signed leases.  Financing costs including legal fees and other costs relating to the acquisition of debt financing are deferred.  Leasing and deferred financing costs are included in deferred expenses in the accompanying consolidated balance sheets.  Such costs are amortized using the straight-line method over the terms of the related leases and debt, respectively.  The unamortized balance of such cost was $2,366,155 and $2,720,341 as of April 30, 2014 and 2013, respectively.  Amortization expense was $441,342 and $514,823 for the years ended April 30, 2014 and 2013, respectively.
	Amortization expense for the next five years is expected to be as follows:
	Year Ending April 30
	2015	$332,789
	2016	261,163
	2017	251,635
	2018	221,319
	2019	170,804
	Thereafter	1,128,445
	Total	$2,366,155
Investment, Policy [Policy Text Block]	'
	Investment in Affiliated Entities
	The Company has an investment in an affiliated limited liability entity Dover Parkade, LLC, (“Dover”).  The Company has a 50% interest in “Dover” which owns a shopping center in Dover Township, NJ.  The operating and financial policies of “Dover” are not controlled by the Company.  For the years prior to May 1, 2009, the Company was committed to provide funding to this equity method investee.  The Company’s investment was recorded at cost and subsequently adjusted for its share of their net income and losses and distributions. Since 2009, the Company has not increased its negative investment but has begun to record distributions to income. The resulting carrying value of this investment ($1,911,833) as of April 30, 2014 and ($2,198,046) as of April 30, 2013 is included in other liabilities.
	On October 4, 2011, the Company entered into a partnership with a nonprofit entity which purchased a 99 year leasehold interest in a 200 unit subsidized housing project in Claymont, Delaware.  The Company is a non-controlling .01% limited partner in the entity.  The Company’s investment is carried at cost of $100. A subsidiary of the Company is the managing agent.
	The Company recorded equity in earnings of unconsolidated subsidiaries of $423,713 and $434,372 for the years ended April 30, 2014 and 2013, respectively.
Fair Value Measurement, Policy [Policy Text Block]	'
	Fair Value Measurements
	Certain assets and liabilities are presented at fair value on a recurring basis.  In addition, fair values are disclosed for certain other assets and liabilities.  In all cases, fair value is determined using valuation techniques based on a hierarchy of inputs.  A summary of the hierarchy follows:
		⋅	Level 1 –	Quoted prices in active markets that are unadjusted and accessible at the measurement date for identical, unrestricted assets or liabilities.
		⋅	Level 2 –	Quoted prices for identical assets and liabilities in markets that are not active, quoted prices for similar assets and liabilities in active markets or financial instruments for which significant observable inputs are available, either directly or indirectly such as interest rates and yield curves that are observable at commonly quoted intervals; and
		⋅	Level 3 –	Prices or valuations that require inputs that are unobservable.
	In certain cases, the inputs used to measure fair value may fall into different levels of the fair value hierarchy.  In such cases, the level in the fair value hierarchy within which the fair value measurement in its entirety falls has been determined based on the lowest level input that is significant to the fair value measurement in its entirety.  The Company’s assessment of the significance of a particular input to the fair value measurement in its entirety requires judgment, and considers factors specific to the asset or liability.
	The Company’s financial instruments include cash and cash equivalents, accounts receivable, marketable securities, accounts payable, accrued expenses and debt.  The fair values of accounts receivable, accounts payable and accrued expenses are estimated to approximate their carrying amounts because of their relative short-term nature.  In general, the carrying amount of variable rate debt approximates its fair value.  Further, the carrying amount of fixed rate debt approximates fair value debt since the interest rates on the debt approximates the Company’s current incremental borrowing rate.  Information about the fair values of marketable securities and derivative liabilities is presented below.
	Level 1
	Marketable Securities – Common and Preferred Stocks
	The Company determines the appropriate classifications of its investments in marketable debt and equity securities at the time of purchase and re-evaluates such determinations at each balance sheet date.  As of April 30, 2014 and 2013, investments consist of equity securities, which are classified as available for sale.  Investments in marketable securities are stated at fair value.  Fair value for marketable securities is based on the last sale of the period obtained from recognized stock exchanges (i.e. Level 1).  Net unrealized holding gains and temporary losses on equity securities are included as a separate component of the deficiency. Net unrealized losses of $202,728 as of April 30, 2014 and gains of $330,960 as of April 30, 2013 are included in accumulated other comprehensive (loss) income. Gains or losses on securities sold are based on the specific identification method.
	Level 2
	Derivative Instruments
	During fiscal year 2006, the Company entered into two separate floating-to-fixed interest rate swap agreements with a bank which expire in June 2015 and July 2031.  The Company has determined that these derivative instruments do not meet the requirements of hedge accounting and have therefore recorded the change in fair value of these derivative instruments through income in the consolidated statement of operations.  The gain on derivatives incurred during the years ended April 30, 2014 and 2013 totaled $1,245,207 and $356,662, respectively, and the Company has recorded a liability of $2,411,173 and $3,656,380 in the consolidated balance sheets, which represents the fair value of the interest rate swaps as of April 30, 2014 and 2013, respectively.
	Level 3
	Debt
	A VIE of the Company assumed a third mortgage note with MHFA on November 1, 2006, having a balance of $18,315,482. The note bears interest at the rate of 5.36% per annum. The VIE has the right to purchase the note upon maturity for the fair value of the note as determined by an appraiser. The mortgage loan was recorded at its estimated fair value on the date of acquisition. The fair value of the third mortgage note has been determined based on the fair value of the property on the acquisition date less the primary loan balances. The third mortgage note is revalued at each reporting period. As of April 30, 2014, the carrying amount of the loan was $1,828,910.
	There have been no significant transfers between Level 1 and Level 2.
Impairment or Disposal of Long-Lived Assets, Policy [Policy Text Block]	'
	Long-Lived Assets
	Long-lived assets held and used in operations are reviewed for impairment whenever events or changes in circumstances indicate that their carrying amount might not be recovered.
	The Company presents operations related to developed properties that have been sold or developed properties that are intended to be sold as discontinued operations.  Developed properties intended to be sold are designated as “held for sale” on the consolidated balance sheets.  No developed properties were sold during the years ended April 30, 2014 or 2013 and none are designated as held for sale at year end.
Income Tax, Policy [Policy Text Block]	'
	Income Taxes
	Deferred income taxes are provided on the differences between the financial statement and income tax bases of assets and liabilities and on net operating loss carryforwards using the enacted tax rates.
	A valuation allowance is provided for deferred income tax assets for which realization is not likely in the near term.
	As of April 30, 2014 and 2013, the Company has no significant uncertain income tax positions.  The Company recognizes interest and penalties on any uncertain income tax positions as a component of income tax expense.
	The State of Massachusetts last concluded an audit for the years ended April 30, 2008 and 2009. In addition, the Internal Revenue Service conducted an audit for the year ended April 30, 2010.  The Company received a notice from the Internal Revenue Service dated November 29, 2012 that the Service has completed its examination of the Company’s Federal income tax return for the period ended April 30, 2010.  The examination resulted in no change in reported tax.  The determination does not include any partnerships in which the Company has an interest.  Otherwise, tax returns for fiscal years after 2010 are open to examination by Federal, local and state authorities.
	The Company follows FASB ASC 740-10 which clarifies the accounting for uncertainty in income taxes recognized in financial statements and prescribes a recognition threshold and measurement attribute for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. After review of the Company’s tax positions, no liabilities were recorded for unrecognized tax benefits as of April 30, 2014 or 2013.
	The Company recognizes interest accrued related to unrecognized tax benefits, if any, in interest expense and penalties in operating expense. During the years ended April 30, 2014 and 2013, the Company did not recognize any interest or penalties related to unrecognized tax benefits.
Compensation Related Costs, Policy [Policy Text Block]	'
	Stock Compensation
	Share-based compensation cost is measured at the grant date, based on the calculated fair value of the award, and is recognized as an expense over the employee’s requisite service period (generally the vesting period of the equity grant).
Earnings Per Share, Policy [Policy Text Block]	'
	Earnings (loss) per share (EPS)
	Basic earnings (loss) per share amounts are determined using the weighted-average outstanding common shares for the year.  Diluted earnings (loss) per share amounts include the weighted-average outstanding common shares as well as potentially dilutive common stock options and warrants using the “treasury stock” method. There were no options outstanding at April 30, 2014. For the year ended April 30, 2013, the effect for the dilutive options outstanding was 102,941 shares.
New Accounting Pronouncements, Policy [Policy Text Block]	'
	New Accounting Pronouncements
	In April 2014, the FASB issued amendments to guidance for reporting discontinued operations and disposals of components of an entity. The amended guidance requires that a disposal representing a strategic shift that has (or will have) a major effect on an entity’s financial results or a business activity classified as held for sale should be reported as discontinued operations. The amendments also expand the disclosure requirements for discontinued operations and add new disclosures for individually significant dispositions that do not qualify as discontinued operations. The amendments are effective prospectively for fiscal years, and interim reporting periods within those years, beginning after December 15, 2014 (early adoption is permitted only for disposals that have not been previously reported). The implementation of the amended guidance is not expected to have a material impact on the Company's consolidated financial statements.
	In May 2014, the FASB issued a standard on revenue recognition providing a single, comprehensive revenue recognition model for all contracts with customers.  The revenue standard is based on the principle that revenue should be recognized to depict the transfer of promised goods or services to customers in an amount that reflects the consideration of which the entity expects to be entitled in exchanged for those goods or services. The standard is effective beginning January 1, 2017, with no early adoption permitted.  The amendments may be applied retrospectively to each prior period presented or retrospectively with the cumulative effect recognized as of the date of initial application.  We are currently evaluating the adoption method options and the impact of the new guidance on our consolidated financial statements.

Summary_of_Significant_Account2

Summary of Significant Accounting Policies: (Tables)	12 Months Ended
	Apr. 30, 2014
Accounting Policies [Abstract]	'
Schedule of Finite-Lived Intangible Assets [Table Text Block]	'
	Depreciation and amortization are provided using the straight-line method based on the following estimated useful lives.
		Description	Years
		Developed properties	15 – 40
		Equipment	3 – 10
		Tenant improvements	Lesser of improvement life
			or lease term
Schedule of Finite-Lived Intangible Assets, Future Amortization Expense [Table Text Block]	'
	Amortization expense for the next five years is expected to be as follows:
	Year Ending April 30
	2015	$332,789
	2016	261,163
	2017	251,635
	2018	221,319
	2019	170,804
	Thereafter	1,128,445
	Total	$2,366,155

Consolidated_Variable_Interest1

Consolidated Variable Interest Entities (Tables)	12 Months Ended
	Apr. 30, 2014
Organization, Consolidation and Presentation of Financial Statements [Abstract]	'
Reconciliation of Assets from Segment to Consolidated [Table Text Block]	'
	A summary of the assets and liabilities of Rockland and Clarendon included in the Company’s consolidated balance sheets as follows:
		April  30
		2014	2013
	Real estate and equipment, net	$66,786,598	$68,084,169
	Other assets	7,060,316	8,096,778
	Total assets	73,846,914	76,180,947
	Intercompany profit elimination	-3,085,303	(3,045,149)
	Consolidated	$70,761,611	$73,135,798
	Mortgages and other notes payable	$55,134,554	$56,039,906
	Other liabilities	3,961,024	3,330,240
	Total liabilities	$59,095,578	$59,370,146

Construction_Loans_Mortgages_a1

Construction Loans, Mortgages and Notes Payable: (Tables)	12 Months Ended
	Apr. 30, 2014
Debt Disclosure [Abstract]	'
Schedule of Debt [Table Text Block]	'
	Information about the Company’s debt follows:
		2014	2013
	Construction loans and mortgages payable with interest rates ranging from
	zero to 11.00% at April 30, 2014 and 2013 and maturities at various dates through 2056.	$197,624,644	$199,174,855
	Notes payable on Clarendon with interest rates ranging from zero to 4.40% at
	April 30, 2014 and 2013 and maturities ranging from 2030 to 2050.	1,704,697	1,704,697
	Note and pre-judgment interest payable to Richard E. Kaplan
	Paid in full by October 4, 2013.	-0-	1,829,604
		$199,329,341	$202,709,156
Schedule of Accounts Payable and Accrued Liabilities [Table Text Block]	'
	Aggregate principal payments due on the above debt for each of the years succeeding April 30, 2014 are as follows:
	Year Ending April 30
	2015	$8,976,546
	2016	42,140,790
	2017	2,534,102
	2018	13,215,975
	2019	2,482,552
	Thereafter	129,979,376
		$199,329,341

Pledge_of_Stock_in_Subsidiarie1

Pledge of Stock in Subsidiaries: (Tables)	12 Months Ended
	Apr. 30, 2014
Debt Disclosure [Abstract]	'
Pledge Of Stock In Subsidiaries [Table Text Block]	'
	The President of the Company has guaranteed the following outstanding amounts at April 30, 2014:
	Loan for Career Education building -
	5% of loan balance outstanding	$490,000
	Construction loan – Edinburg, Texas	$48,232,000

Related_Party_Transactions_Tab

Related Party Transactions: (Tables)	12 Months Ended
	Apr. 30, 2014
Related Party Transactions [Abstract]	'
Schedule of Related Party Transactions [Table Text Block]	'
	Amounts included in revenue resulting from transactions with Journal Publishing Inc., a company which is owned by the President of the Company and his wife are as follows:
		2014	2013
	Service Fees	$18,440	$11,223
	Total	$18,440	$11,223

Income_Taxes_Tables

Income Taxes: (Tables)	12 Months Ended
	Apr. 30, 2014
Income Tax Disclosure [Abstract]	'
Schedule of Components of Income Tax Expense (Benefit) [Table Text Block]	'
	The provision for income taxes consists of:
		2014	2013
	Current state income taxes	$38,535	$64,985
	Federal – alternative minimum tax	10,337	-0-
		$48,535	$64,985
Schedule of Deferred Tax Assets and Liabilities [Table Text Block]	'
	The components of the net deferred income tax asset follow:
	Tax effect of net operating loss carry-forwards	$5,051,000	$4,909,000
	Valuation allowance	-5,051,000	(4,909,000)
		$-0-	$-0-
Schedule of Effective Income Tax Rate Reconciliation [Table Text Block]	'
	A reconciliation of the provision for income taxes with amounts determined by applying the statutory U.S. Federal income tax rate before income taxes is as follows:
		2014		2013
	Federal statutory rate (34%)	($1,733,000)		$52,000
	Nondeductible loss on impairment	1,369,000		-0-
	State tax – net of Federal effect	38,535		43,000
	Change in valuation allowance on deferred tax assets	142,000		-0-
	Losses attributable to noncontrolling interests	163,000		37,000
	Other	69,337		-67,000
	Provision for income taxes		$48,872	$65,000

Leases_Tables

Leases: (Tables)	12 Months Ended
	Apr. 30, 2014
Leases [Abstract]	'
Schedule of Future Minimum Rental Payments for Operating Leases [Table Text Block]	'
	Minimum future rentals to be received on non-cancellable commercial real estate leases as of April 30, 2014 are as follows:
	Year Ending April 30
	2015	$13,481,932
	2016	13,037,178
	2017	12,112,400
	2018	10,928,340
	2019	9,509,831
	Thereafter	40,234,132
	Total	$99,303,813

Investments_in_Affiliates_Tabl

Investments in Affiliates: (Tables)	12 Months Ended
	Apr. 30, 2014
Investments in and Advances to Affiliates, Schedule of Investments [Abstract]	'
Investments in and Advances to Affiliates [Table Text Block]	'
	Summarized financial and other information for the Company’s investment in Dover Parkade LLC (Dover) follows:
	Dover – New Jersey:
	As of and for the years ended April 30
	Company ownership – 50% investment at inception was $147,500.
		2014	2013
	Assets	$13,370,323	$12,864,049
	Liabilities	18,530,850	18,322,003
	Members’ deficit	-5,160,527	-5,457,954
	Revenue	2,601,195	2,600,929
	Operating expenses	1,305,066	1,103,289
	Non-operating expense, net	-723,702	-985,902
	Net income	572,427	511,738

Segment_Information_Tables

Segment Information: (Tables)	12 Months Ended
	Apr. 30, 2014
Segment Reporting [Abstract]	'
Schedule of Segment Reporting Information, by Segment [Table Text Block]	'
	Summary financial information for the two reportable segments is approximately as follows:
		2014	2013
	Revenues:
	Real Estate Operations	$35,872,000	$34,075,000
	Fee for Service	5,187,000	4,952,000
	TOTAL	$41,059,000	$39,027,000
	Operating Cost and Expense:
	Real Estate Operations	$24,021,000	$21,519,000
	Fee for Service	4,177,000	3,353,000
	Administrative Expenses	5,375,000	4,388,000
	TOTAL	$33,573,000	$29,260,000

Summary_of_Significant_Account3

Summary of Significant Accounting Policies: (Details)	12 Months Ended
	Apr. 30, 2014
Developed properties [Member] | Maximum [Member]	'
Finite-Lived Intangible Assets [Line Items]	'
Finite-Lived Intangible Asset, Useful Life	'40 years
Developed properties [Member] | Minimum [Member]	'
Finite-Lived Intangible Assets [Line Items]	'
Finite-Lived Intangible Asset, Useful Life	'15 years
Equipment [Member] | Maximum [Member]	'
Finite-Lived Intangible Assets [Line Items]	'
Finite-Lived Intangible Asset, Useful Life	'10 years
Equipment [Member] | Minimum [Member]	'
Finite-Lived Intangible Assets [Line Items]	'
Finite-Lived Intangible Asset, Useful Life	'3 years
Tenant improvements [Member]	'
Finite-Lived Intangible Assets [Line Items]	'
Finite-Lived Intangible Assets, Amortization Method	'Lesser of improvement life or lease term

Summary_of_Significant_Account4

Summary of Significant Accounting Policies: (Details 1) (USD $)	Apr. 30, 2014	Apr. 30, 2013
Finite-Lived Intangible Assets [Line Items]	'	'
2015	$332,789	'
2016	261,163	'
2017	251,635	'
2018	221,319	'
2019	170,804	'
Thereafter	1,128,445	'
Total	$2,366,155	$2,720,341

Summary_of_Significant_Account5

Summary of Significant Accounting Policies: (Details Textual) (USD $)	12 Months Ended
	Apr. 30, 2014	Apr. 30, 2013	Nov. 01, 2006
Accounting Policies [Line Items]	'	'	'
Construction Revenue	$0	$1,966,000	'
Sales of Real Estate	4,562,596	2,385,000	'
Cost of Real Estate Sales	3,631,374	1,221,627	'
Fees and Commissions	675,000	130,000	'
Accounts Payable, Other	14,845,000	6,832,366	'
Due from Related Parties	165,206	165,188	'
Finite-Lived Intangible Assets, Net	2,366,155	2,720,341	'
Amortization of Deferred Charges	441,346	514,823	'
Other Liabilities	1,911,832	2,198,045	'
Leasehold Interest Term	'99 years	'	'
Units of Partnership Interest, Description	'200	'	'
Noncontrolling Interest, Ownership Percentage by Parent	0.01%	'	'
Investments in and Advance to Affiliates, Subsidiaries, Associates, and Joint Ventures	100	100	'
Income (Loss) from Equity Method Investments	423,713	434,372	'
Other Comprehensive Income (Loss), Unrealized Holding Gain (Loss) on Securities Arising During Period, Net of Tax	-202,728	330,960	'
Gain (Loss) on Sale of Derivatives	1,245,207	356,662	'
Derivative Liability	2,411,173	3,656,380	'
Debt Instrument, Face Amount	'	'	18,315,482
Debt Instrument, Interest Rate, Stated Percentage	5.36%	'	'
Mortgage Loans on Real Estate, Carrying Amount of Mortgages	1,828,910	'	'
Weighted Average Number of Shares Outstanding, Diluted	'	102,941	'
Real Estate Inventory, Capitalized Labor Costs, Cost of Sales	0	139,000	'
Dover Parkade LLC [Member]	'	'	'
Accounting Policies [Line Items]	'	'	'
Equity Method Investment, Ownership Percentage	50.00%	'	'
Caremark Corporation [Member]	'	'	'
Accounting Policies [Line Items]	'	'	'
Fees and Commissions	4,514,000	4,822,000	'
Due from Related Parties	$15,405,000	$6,533,260	'

Consolidated_Variable_Interest2

Consolidated Variable Interest Entities (Details) (USD $)	Apr. 30, 2014	Apr. 30, 2013
Segment Reporting, Asset Reconciling Item [Line Items]	'	'
Real estate and equipment, net	$165,378,029	$173,813,512
Total assets	208,167,400	210,266,323
Mortgages and other notes payable	199,329,341	202,709,156
Other liabilities	1,911,832	2,198,045
Total liabilities	227,608,930	223,021,586
Variable Interest Entity, Primary Beneficiary [Member] | Rockland and Clarendon [Member]	'	'
Segment Reporting, Asset Reconciling Item [Line Items]	'	'
Real estate and equipment, net	66,786,598	68,084,169
Other assets	7,060,316	8,096,778
Total assets	73,846,914	76,180,947
Intercompany profit elimination	-3,085,303	-3,045,149
Consolidated	70,761,611	73,135,798
Mortgages and other notes payable	55,134,554	56,039,906
Other liabilities	3,961,024	3,330,240
Total liabilities	$59,095,578	$59,370,146

Consolidated_Variable_Interest3

Consolidated Variable Interest Entities (Details Textual) (USD $)	12 Months Ended
	Apr. 30, 2014	Apr. 30, 2013
Connolly and Partners, LLC [Member]	'	'
Schedule of Equity Method Investments [Line Items]	'	'
Equity Method Investment, Ownership Percentage	75.00%	'
Rockland [Member]	'	'
Schedule of Equity Method Investments [Line Items]	'	'
Ownership Interest Percentage	0.01%	'
Units for Rental Properties	204	'
Clarendon Hill Somerville, LLC [Member]	'	'
Schedule of Equity Method Investments [Line Items]	'	'
Equity Method Investment, Ownership Percentage	49.00%	'
Clarendon [Member]	'	'
Schedule of Equity Method Investments [Line Items]	'	'
Ownership Interest Percentage	0.01%	'
Units for Rental Properties	501	'
Trolley Barn [Member]	'	'
Schedule of Equity Method Investments [Line Items]	'	'
Equity Method Investment, Ownership Percentage	50.00%	'
Clarendon Hill Towers Tenant Association, LLC [Member]	'	'
Schedule of Equity Method Investments [Line Items]	'	'
Equity Method Investment, Ownership Percentage	51.00%	'
Rockland and Clarendon [Member]	'	'
Schedule of Equity Method Investments [Line Items]	'	'
Equity Method Investment, Summarized Financial Information, Revenue	$11,160,723	$11,105,125
Equity Method Investment, Summarized Financial Information, Net Income (Loss)	$1,920,508	$1,073,416

Construction_Loans_Mortgages_a2

Construction Loans, Mortgages and Notes Payable: (Details) (USD $)	Apr. 30, 2014	Apr. 30, 2013
Schedule of Capitalization, Long-term Debt [Line Items]	'	'
Mortgages and other notes payable	$199,329,341	$202,709,156
Construction Loans And Mortgages Payable [Member]	'	'
Schedule of Capitalization, Long-term Debt [Line Items]	'	'
Mortgages and other notes payable	197,624,644	199,174,855
Clarendon [Member] | Notes Payable One [Member]	'	'
Schedule of Capitalization, Long-term Debt [Line Items]	'	'
Mortgages and other notes payable	1,704,697	1,704,697
Richard E Kaplan [Member] | Notes Payable Two [Member]	'	'
Schedule of Capitalization, Long-term Debt [Line Items]	'	'
Mortgages and other notes payable	$0	$1,829,604

Construction_Loans_Mortgages_a3

Construction Loans, Mortgages and Notes Payable: (Details 1) (Construction Loans, Mortgages and Notes Payable [Member], USD $)	Apr. 30, 2014
Construction Loans, Mortgages and Notes Payable [Member]	'
Schedule Of Accounts Payable And Accrued Liabilities [Line Items]	'
2015	$8,976,546
2016	42,140,790
2017	2,534,102
2018	13,215,975
2019	2,482,552
Thereafter	129,979,376
Long-term Debt	$199,329,341

Construction_Loans_Mortgages_a4

Construction Loans, Mortgages and Notes Payable: (Details Textual)	12 Months Ended
	Apr. 30, 2014
Construction Loans And Mortgages Payable [Member]	'
Construction Loans Mortgages And Notes Payable [Line Items]	'
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum	0.00%
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum	11.00%
Debt Instrument, Maturity Date, Description	'maturities at various dates through 2056
Notes Payable One [Member] | Clarendon [Member]	'
Construction Loans Mortgages And Notes Payable [Line Items]	'
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Minimum	0.00%
Debt Instrument, Interest Rate, Stated Percentage Rate Range, Maximum	4.40%
Debt Instrument, Maturity Date, Description	'maturities ranging from 2030 to 2050

Public_Infrastructure_Reimburs1

Public Infrastructure Reimbursements and Other Incentives: (Details Textual) (USD $)	12 Months Ended
	Apr. 30, 2014	Apr. 30, 2010	Apr. 30, 2014	Apr. 30, 2013
			Edinburg Economic Development Corporation [Member]	Edinburg Economic Development Corporation [Member]
Public Utilities, General Disclosures [Line Items]	'	'	'	'
Public Infrastructure Reimbursement, Recognized Receivable And Reduction Of Cost	'	$8,000,000	'	'
Reimbursement Of Public Infrastructure Costs	6,211,533	'	'	'
Public Infrastructure Reimbursement Payable Description	'The reimbursement is payable solely by the City of Edinburg from proceeds of public infrastructure bonds and/or from proceeds from 50% of the Citys dedicated 1% sales tax generated from the shopping center	'	'	'
Reimbursement Of Public Infrastructure Costs, Included In Other Receivables	1,788,467	'	'	'
Other Cash Incentives, Receivable Amount	'	'	4,000,000	'
Other Cash Incentives, Description	'Company also receives contributions from the Edinburg Economic Development Corporation (“EEDC”) of up to $4,000,000 as its .5% share of sales tax revenue generated from the shopping center.	'	'	'
Other Cash Incentives	'	'	$422,793	$383,155

Pledge_of_Stock_in_Subsidiarie2

Pledge of Stock in Subsidiaries: (Details) (USD $)	Apr. 30, 2014
Debt Instrument [Line Items]	'
Loan for Career Education building -	'
5% of loan balance outstanding	490,000
Construction loan - Edinburg, Texas	$48,232,000

Pledge_of_Stock_in_Subsidiarie3

Pledge of Stock in Subsidiaries: (Details Textual)	Apr. 30, 2014
Debt Instrument [Line Items]	'
Debt Instrument, Interest Rate, Stated Percentage	5.36%

Related_Party_Transactions_Det

Related Party Transactions: (Details) (USD $)	12 Months Ended
	Apr. 30, 2014	Apr. 30, 2013
Related Party Transaction [Line Items]	'	'
Revenue from Related Parties	$18,440	$11,223
Service Fees [Member]	'	'
Related Party Transaction [Line Items]	'	'
Revenue from Related Parties	$18,440	$11,223

Related_Party_Transactions_Det1

Related Party Transactions: (Details Textual) (USD $)	Apr. 30, 2014	Apr. 30, 2013
Related Party Transaction [Line Items]	'	'
Due from Related Parties	$165,206	$165,188
Due to Related Parties	471,114	449,757
Hartford Lubbock Limited Partnership [Member]	'	'
Related Party Transaction [Line Items]	'	'
Due from Related Parties	157,000	157,000
Equity Method Investment, Ownership Percentage	98.01%	'
Cranston Brewery LLC [Member]	'	'
Related Party Transaction [Line Items]	'	'
Equity Method Investment, Ownership Percentage	50.00%	'
Due to Related Parties	$471,000	$450,000

Stock_Option_Plan_Details_Text

Stock Option Plan: (Details Textual) (USD $)	12 Months Ended
	Apr. 30, 2014	Apr. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]	'	'
Share-based Compensation Arrangement by Share-based Payment Award, Number of Shares Authorized	1,000,000	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Grants in Period, Gross	250,000	'
Share-based Compensation Arrangement by Share-based Payment Award, Award Vesting Period	'2 years	'
Share-based Compensation Arrangements by Share-based Payment Award, Options, Grants in Period, Weighted Average Exercise Price	$1.10	'
Share-based Compensation Arrangement by Share-based Payment Award, Expiration Date	11-Feb-14	'
Share-based Compensation Arrangements by Share-based Payment Award, Options, Exercises in Period, Weighted Average Exercise Price	$1.30	'
Share-based Compensation	$325,000	'
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Number	'	250,000
Share-based Compensation Arrangement by Share-based Payment Award, Options, Exercisable, Weighted Average Exercise Price	'	$1.10
Share-based Compensation Arrangement by Share-based Payment Award, Options, Outstanding, Intrinsic Value	'	$325,000

Employee_Retirement_Plan_Detai

Employee Retirement Plan: (Details Textual) (USD $)	12 Months Ended
	Apr. 30, 2014	Apr. 30, 2013
Defined Contribution Plan Disclosure [Line Items]	'	'
Description of Defined Contribution Pension and Other Postretirement Plans	'Under this plan, all employees over 18 years of age, working at least 30 hours weekly are eligible to participate.	'
Defined Contribution Plan, Employer Matching Contribution, Percent of Match	3.00%	'
Pension Expense	$70,729	$69,073

Impairment_Loss_Details_Textua

Impairment Loss: (Details Textual) (USD $)	12 Months Ended
	Apr. 30, 2014	Apr. 30, 2013
Impairment Loss [Line Items]	'	'
Impairment of Real Estate	$4,027,573	'
Mortgage Loans on Real Estate, Write-down or Reserve, Amount	7,260,000	'
Real Estate Investment Property, Net	165,378,029	173,813,512
Real Estate Investment Property Fair Value	$12,575,423	'

Income_Taxes_Details

Income Taxes: (Details) (USD $)	12 Months Ended
	Apr. 30, 2014	Apr. 30, 2013
Income Tax Disclosure [Line Items]	'	'
Current state income taxes	$38,535	$64,985
Federal - alternative minimum tax	10,337	0
Provision for income taxes	$48,872	$64,985

Income_Taxes_Details_1

Income Taxes: (Details 1) (USD $)	Apr. 30, 2014	Apr. 30, 2013
Income Tax Disclosure [Line Items]	'	'
Tax effect of net operating loss carry-forwards	$5,051,000	$4,909,000
Valuation allowance	-5,051,000	-4,909,000
Deferred Tax Assets Liabilities Net	$0	$0

Income_Taxes_Details_2

Income Taxes: (Details 2) (USD $)	12 Months Ended
	Apr. 30, 2014	Apr. 30, 2013
Income Tax Disclosure [Line Items]	'	'
Federal statutory rate (34%)	($1,733,000)	$52,000
Nondeductible loss on impairment	1,369,000	0
State tax - net of Federal effect	38,535	43,000
Change in valuation allowance on deferred tax assets	142,000	0
Losses attributable to noncontrolling interests	163,000	37,000
Other	69,337	-67,000
Provision for income taxes	$48,872	$64,985

Income_Taxes_Details_Textual

Income Taxes: (Details Textual) (USD $)	12 Months Ended
	Apr. 30, 2014	Apr. 30, 2013
Income Tax Disclosure [Line Items]	'	'
Effective Income Tax Rate Reconciliation, at Federal Statutory Income Tax Rate, Percent	34.00%	'
Deferred Tax Assets, Operating Loss Carryforwards, Subject to Expiration	$15,000,000	'
Operating Loss CarryForwards Expiration Period	'expiring between 2016 and 2028	'
Deferred Tax Assets, Net	0	0
Deferred Tax Assets, Operating Loss Carryforwards	$5,051,000	$4,909,000

Leases_Details

Leases: (Details) (USD $)	Apr. 30, 2014
Operating Leased Assets [Line Items]	'
2015	$13,481,932
2016	13,037,178
2017	12,112,400
2018	10,928,340
2019	9,509,831
Thereafter	40,234,132
Total	$99,303,813

Leases_Details_Textual

Leases: (Details Textual)	12 Months Ended
	Apr. 30, 2014
Operating Leased Assets [Line Items]	'
Lease Expiration Period	'expiring through 2027

Investments_in_Affiliates_Deta

Investments in Affiliates: (Details) (USD $)	12 Months Ended
	Apr. 30, 2014	Apr. 30, 2013
Schedule of Investments [Line Items]	'	'
Assets	$208,167,400	$210,266,323
Liabilities	227,608,930	223,021,586
Revenue	41,059,323	39,027,580
Operating expenses	33,573,524	29,259,672
Non-operating expense, net	-12,584,694	-9,577,243
Net income	-4,668,737	158,959
Dover Parkade LLC [Member]	'	'
Schedule of Investments [Line Items]	'	'
Assets	13,370,323	12,864,049
Liabilities	18,530,850	18,322,003
Members' deficit	-5,160,527	-5,457,954
Revenue	2,601,195	2,600,929
Operating expenses	1,305,066	1,103,289
Non-operating expense, net	-723,702	-985,902
Net income	$572,427	$511,738

Investments_in_Affiliates_Deta1

Investments in Affiliates: (Details Textual) (USD $)	12 Months Ended
	Apr. 30, 2014	Apr. 30, 2013
Schedule of Investments [Line Items]	'	'
Noncontrolling Interest, Ownership Percentage by Parent	0.01%	'
Dover Parkade LLC [Member]	'	'
Schedule of Investments [Line Items]	'	'
Noncontrolling Interest, Ownership Percentage by Parent	50.00%	'
Investment In Affiliates At Inception	$147,500	'
Concentration Risk, Percentage	55.00%	55.00%
Lease Expiration Date	30-Jun-26	'

Segment_Information_Details

Segment Information: (Details) (USD $)	12 Months Ended
	Apr. 30, 2014	Apr. 30, 2013
Revenues:	'	'
TOTAL	$41,059,323	$39,027,580
Operating Cost and Expense:	'	'
Administrative Expenses	5,374,666	4,717,697
TOTAL	33,573,524	29,259,672
Real Estate Operations [Member]	'	'
Revenues:	'	'
TOTAL	35,872,000	34,075,000
Operating Cost and Expense:	'	'
TOTAL	24,021,000	21,519,000
Fee for Service [Member]	'	'
Revenues:	'	'
TOTAL	5,187,000	4,952,000
Operating Cost and Expense:	'	'
TOTAL	$4,177,000	$3,353,000

Segment_Information_Details_Te

Segment Information: (Details Textual) (USD $)	Apr. 30, 2014	Apr. 30, 2013
Segment Reporting Information [Line Items]	'	'
Restricted Cash and Cash Equivalents	$769,231	$1,272,924
Other Receivables	16,842,826	8,744,470
Fee for Service [Member]	'	'
Segment Reporting Information [Line Items]	'	'
Restricted Cash and Cash Equivalents	351,000	860,000
Other Receivables	$15,054,000	$6,533,000

Subsequent_Events_Details_Text

Subsequent Events: (Details Textual) (USD $)	0 Months Ended		12 Months Ended
	Aug. 15, 2014	Jul. 09, 2014	Apr. 30, 2014
Subsequent Event [Line Items]	'	'	'
Noncontrolling Interest, Ownership Percentage by Parent	'	'	0.01%
Dover Parkade LLC [Member]	'	'	'
Subsequent Event [Line Items]	'	'	'
Noncontrolling Interest, Ownership Percentage by Parent	'	'	50.00%
Subsequent Event [Member] | Dover Parkade LLC [Member]	'	'	'
Subsequent Event [Line Items]	'	'	'
Noncontrolling Interest, Ownership Percentage by Parent	'	50.00%	'
Mortgage Loans on Real Estate, Interest Rate	5.52%	5.36%	'
Defeasance Cost	'	$775,000	'
Mortgage Loans on Real Estate, Periodic Payment Terms	'10 years	'10 years	'
Mortgage Loans on Real Estate, New Mortgage Loans	10,500,000	20,000,000	'
Mortgage Loans on Real Estate, Prior Liens	7,815,897	17,485,000	'
Defeasance Closing Cost	'	236,000	'
Mortgage Loans On Real Estate New Mortgage Interest Rate Percentage	4.60%	4.16%	'
Mortgage Loans On Real Estate Amortization Period	'30 years	'	'30 years
Mortgage Loans On Real Estate Amortized Transaction Cost	$110,000	'	'