Ownership Submission
FORM 4
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

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(h) of the Investment Company Act of 1940
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(Print or Type Responses)
1. Name and Address of Reporting Person *
Bidgood David
   2. Issuer Name and Ticker or Trading Symbol
BLUEGREEN CORP [BXG] 		5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director _____ 10% Owner
__X__ Officer (give title below) _____ Other (specify below)
Senior Vice President
(Last)
(First)
(Middle)
4960 CONFERENCE WAY NORTH, SUITE 100		 3. Date of Earliest Transaction (Month/Day/Year)
11/11/2011
(Street)

BOCA RATON, FL 33431		 4. If Amendment, Date Original Filed(Month/Day/Year)
 6. Individual or Joint/Group Filing(Check Applicable Line)
_X_ Form filed by One Reporting Person
___ Form filed by More than One Reporting Person
(City)
(State)
(Zip)
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)		 2. Transaction Date (Month/Day/Year) 2A. Deemed Execution Date, if any (Month/Day/Year) 3. Transaction 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
Bluegreen Corporation Common Stock, par $0.01 11/11/2011   D   166,623 (1) D $ 1.39 (1) 0 D  

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Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
(e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)		 2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (Month/Day/Year) 3A. Deemed Execution Date, if any (Month/Day/Year) 4. Transaction 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
(Month/Day/Year)		 7. Title and Amount of Underlying Securities
(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
Stock Option (Right to Buy) $ 18.36 11/11/2011   D(2)     24,000 07/20/2010 07/20/2015 Bluegreen Corporation Common Stock, par $0.01 24,000 $ 0 0 D  
Stock Option (Right to Buy) $ 18.36 11/11/2011   A(2)   24,000   07/20/2010 11/25/2011 Bluegreen Corporation Common Stock, par $0.01 24,000 $ 0 24,000 D  
Stock Option (Right to Buy) $ 12.07 11/11/2011   D(3)     30,000 07/19/2011 07/19/2016 Bluegreen Corporation Common Stock, par $0.01 30,000 $ 0 0 D  
Stock Option (Right to Buy) $ 12.07 11/11/2011   A(3)   30,000   07/19/2011 11/25/2011 Bluegreen Corporation Common Stock, par $0.01 30,000 $ 0 30,000 D  
Stock Option (Right to Buy) $ 7.5 11/11/2011   D(4)     85,000 10/26/2011(5) 05/21/2015 Bluegreen Corporation Common Stock, par $0.01 85,000 $ 0 0 D  
Stock Option (Right to Buy) $ 7.5 11/11/2011   A(4)   85,000   10/26/2011(5) 11/25/2011 Bluegreen Corporation Common Stock, par $0.01 85,000 $ 0 85,000 D  

Reporting Owners

Reporting Owner Name / Address Relationships
 Director  10% Owner  Officer  Other
Bidgood David
4960 CONFERENCE WAY NORTH
SUITE 100
BOCA RATON, FL 33431		       Senior Vice President  

Signatures

 Anthony M Puleo as Attorney-in-fact for David Bidgood   11/15/2011
**Signature of Reporting Person Date

Explanation of Responses:

* 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).
(1) Represents unvested restricted shares of the issuer's common stock which were relinquished by the reporting person (and canceled by the issuer) in exchange for cash payments totaling $232,041 to be made to the reporting person in two equal installments on December 31, 2011 and December 31, 2012.
(2) The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The option, which was originally granted on July 20, 2005, was amended solely to change its expiration date from July 20, 2015 to November 25, 2011.
(3) The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The option, which was originally granted on July 19, 2006, was amended solely to change its expiration date from July 19, 2016 to November 25, 2011.
(4) The two reported transactions involved an amendment of an outstanding option, resulting in the deemed cancellation of the "old" option and the grant of a replacement option. The option, which was originally granted on May 21, 2008, was amended solely to change its expiration date from May 21, 2015 to November 25, 2011.
(5) The vesting date of the option was previously accelerated by the compensation committee of the issuer's board of directors from May 21, 2013 (or earlier under certain circumstances) to October 26, 2011.

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