Having an inhouse construction division that will also take on outside work will be more cost-effective, believes Richard A. Friedman, the firm's executive vice president of development. The new firm, Rivermar Contracting Co., is stepping onto new turf with seasoned professionals.

"We have more than 200 years of collective experience in commercial contracting on board at Rivermar, with more than $3 billion worth of completed projects," Friedman tells GlobeSt.com. The company breaks ground in March on the first of what may become 27 buildings in the condo community. "A new building will break ground every 30 days" to keep up with the current sales pace, Friedman says.

The first 32-unit building at the six-building Rivers Edge sector is sold out. The average price for a three-bedroom, 3 1/2-bath unit is $300,000. A one bedroom, 1 ½-bath condo averages $180,000. The condos range from 1,100 sf to 2,200 sf.