Bounded by 1,200 linear feet of riverfront, the project includes a heavily landscaped entryway that arrives at a large fountain. "The whole sense of arrival offers a sense of a suburban community rather than an urban community," Tracy says.

Phase two offers prospective residents slightly larger units and more common area, with a larger lobby and a number of recreational amenities, Tracy says. It will contain some retail, including a 10,000-sf riverfront restaurant, a coffee house, dry cleaner, newsstand, deli and a bistro-type restaurant.

"From a service standpoint, we're as close to a hotel operation as you can get," Tracy says. "But there was a learning curve there. Our rental product is not all that different than what some other condo products offer."

The success of the project is drawing largely from a trend that shows higher demand for urban-style living, Tracy adds.

"In a general sense, we've learned that people today are more inclined to live in the urban areas," Tracy says. "We benefit from the experience we already have in the market. We know who the market is."

Much of that experience came from focus groups the company convened with prospective customers during phase one.

"We're being pretty scientific about the way we approach phase two," Tracy says. "We have the benefit of talking with people who want to be Downtown in general, and our location specifically."

The project is drawing a mix of tenants, from young executives to older empty nesters. "I have to admit that when I started down this road many years ago, I had a few nightmares," Tracy says. "I was concerned if we built it, would anyone come."