I could see two ways to do this:
1) Use the EF4 approach (which is also possible with EF5), which uses the edmx stream and databases. Then, whenever you have changes to your database, you simply "update your model from the database .." from the context menu of the edmx designer. This automatically updates your generated entity classes.
2) Use the EF5 approach - generate your POCO classes once, do not use edmx at all. You can do this using Entity Framework Power Tools, and then use Engineer Reverse Code First. Manually apply changes in their classes when changing the database model (which, obviously, will only work with incremental database changes).
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