Consolidated Balance Sheets (Parenthetical)	Dec. 31, 2015 USD ($) $ / shares shares
Operating real estate assets:
Operating real estate assets, net (including VIEs $170,258,129)	$ 175,359,303
Construction in process, including land (including VIEs $114,367,104)	119,031,154
Real estate held for sale (including VIEs $96,073,012)	124,092,989
Cash and cash equivalents (including VIEs $8,086,954)	19,016,194
Restricted cash (including VIEs $1,058,010)	1,369,515
Other assets (including VIEs $1,165,593)	1,613,635
Liabilities:
Mortgage and construction notes payable (including VIEs $239,298,457)	267,025,839
Accrued development costs (including VIEs $18,265,802)	18,265,802
Accounts payable and other accrued expenses (including VIEs $4,436,485)	4,973,131
Other liabilities (including VIEs $594,221)	$ 678,702
Stockholders’ equity:
Preferred stock, par value per share (in usd per share) | $ / shares	$ 0.01
Preferred stock, shares authorized (in shares) | shares	200,000,000
Preferred stock, shares unissued (in shares) | shares	200,000,000
Common stock, par value per share (in usd per share) | $ / shares	$ 0.01
Common stock, shares authorized (in shares) | shares	1,120,000,000
Common stock, shares issued (in shares) | shares	22,702,363
Common stock, shares outstanding (in shares) | shares	22,526,171
Variable Interest Entity
Operating real estate assets:
Operating real estate assets, net (including VIEs $170,258,129)	$ 170,258,129
Construction in process, including land (including VIEs $114,367,104)	114,367,104
Real estate held for sale (including VIEs $96,073,012)	96,073,012
Cash and cash equivalents (including VIEs $8,086,954)	8,086,954
Restricted cash (including VIEs $1,058,010)	1,058,010
Other assets (including VIEs $1,165,593)	1,165,593
Liabilities:
Mortgage and construction notes payable (including VIEs $239,298,457)	239,298,457
Accrued development costs (including VIEs $18,265,802)	18,265,802
Accounts payable and other accrued expenses (including VIEs $4,436,485)	4,436,485
Other liabilities (including VIEs $594,221)	$ 594,221