"The community we've created here is a place where people still want to buy and live, despite the economy," Gordon tells GlobeSt.com. "We'd still like to get another building going because of the lack of inventory and continued demand for units."

Developed with Hanwha Engineering & Construction Co., The Chandler was designed by DeStefano + Partners architects, who received a 2008 Design Excellence Award from the Society of American Registered Architects for the building. The property offers residents a fitness facility, an indoor rooftop pool, two landscaped rooftop decks, a private party room, a media room, and concierge services. Located at 450 E. Waterside Drive, The Chandler joined six other condominium towers that have been built so far in the 28-acre master-planned community.

Also recently completed was the 344-unit, 62-story 340 on The Park condo tower, which has only one penthouse remaining for sale. Currently under construction is the $475-million Aqua, where 264 condos will deliver this fall and 14 units are still available. All of the other buildings are entirely sold out, Gordon says, with the total number of condo units completed to date at Lakeshore East to 1,200.

Magellan currently has its sights on two more properties, on which it plans to build another two condo buildings, likely offering around 250 units each. "Financing is going to drive everything right no, so as soon as some capital frees up, we'll get another building going," Gordon says. "The nice thing is that Lakeshore East has been hit the least by the economy, and so will be the first to pop out when the economy takes back off."