FORM 4
[ X ] Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).         
UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP OF SECURITIES
                                                                                  
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Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public
Utility Holding Company Act of 1935 or Section 30(f) of the Investment Company Act of 1940
                      

1. Name and Address of Reporting Person *

SEITH WILLIAM B 		2. Issuer Name and Ticker or Trading Symbol

BROOKFIELD HOMES CORP [ BHS ] 		5. Relationship of Reporting Person(s) to Issuer (Check all applicable)

_____ Director                      _____ 10% Owner
__ X __ Officer (give title below)      _____ Other (specify below)
EVP, Risk Management
(Last)          (First)          (Middle)

3090 BRISTOL STREET, SUITE 200 		3. Date of Earliest Transaction (MM/DD/YYYY)

3/31/2011
(Street)

COSTA MESA, CA 92626
(City)        (State)        (Zip)
4. If Amendment, Date Original Filed (MM/DD/YYYY)

 
6. Individual or Joint/Group Filing (Check Applicable Line)

_ X _ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3) 		2. Trans. Date 2A. Deemed Execution Date, if any 3. Trans. Code
(Instr. 8) 		4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4) 		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4) 7. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V Amount (A) or (D) Price

Table II - Derivative Securities Beneficially Owned ( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivate Security
(Instr. 3) 		2. Conversion or Exercise Price of Derivative Security 3. Trans. Date 3A. Deemed Execution Date, if any 4. Trans. Code
(Instr. 8) 		5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5) 		6. Date Exercisable and Expiration Date 7. Title and Amount of Securities Underlying Derivative Security
(Instr. 3 and 4) 		8. Price of Derivative Security
(Instr. 5) 		9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4) 10. Ownership Form of Derivative Security: Direct (D) or Indirect (I) (Instr. 4) 11. Nature of Indirect Beneficial Ownership (Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Employee Stock Option (Right to Buy)   $21.94   3/31/2011     D         10000      (1) 2/18/2014   Common Stock   10000   $0   0   (1) D    
Employee Stock Option (Right to Buy)   $36.25   3/31/2011     D         5000      (1) 2/2/2015   Common Stock   5000   $0   0   (1) D    
Employee Stock Option (Right to Buy)   $52   3/31/2011     D         5000      (1) 2/1/2016   Common Stock   5000   $0   0   (1) D    
Employee Stock Option (Right to Buy)   $36.41   3/31/2011     D         20000      (1) 2/1/2017   Common Stock   20000   $0   0   (1) D    
Employee Stock Option (Right to Buy)   $15.9   3/31/2011     D         20000      (1) 2/1/2018   Common Stock   20000   $0   0   (1) D    
Employee Stock Option (Right to Buy)   $2.65   3/31/2011     D         125000      (1) 2/2/2019   Common Stock   125000   $0   0   (1) D    
Employee Stock Option (Right to Buy)   $7.35   3/31/2011     D         60000      (1) 2/9/2020   Common Stock   60000   $0   0   (1) D    
Employee Stock Option (Right to Buy)   $14.7   3/31/2011     D         43000      (1) 2/16/2021   Common Stock   43000   $0   0   (1) D    
Deferred Share Units     (2) 3/31/2011     D         25407      (4)   (3) Common Stock   (3) 25407   (3) $0   0   (4) D    

Explanation of Responses:
( 1)  As a result of the Merger, these stock options were replaced on the Effective Date by share options of Brookfield Residential in accordance with the terms of the Merger.
( 2)  1-for-1
( 3)  Units can only be redeemed after separation from service, whether due to retirement, termination or death. There will be no shares of common stock issued, authorized, reserved, purchased or sold at any time in connection with units allocated. Under no circumstances will units be considered shares of common stock, or entitle any participant to the exercise of voting rights or to the exercise of any other rights arising from ownership of shares of common stock.
( 4)  As a result of the Merger, these deferred share units were replaced on the Effective Date with deferred share units of Brookfield Residential.

Reporting Owners
Reporting Owner Name / Address
Relationships
Director 10% Owner Officer Other
SEITH WILLIAM B
3090 BRISTOL STREET
SUITE 200
COSTA MESA, CA 92626

EVP, Risk Management

Signatures
William B. Seith 4/1/2011
** Signature of Reporting Person Date


Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB control number.
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