Anyone that lives in downtown Harrisonburg will tell you residential development is in full swing. However, with the rocky economy, developers are having to make some changes.

With projects like the Urban Exchange already well underway, developers are taking a closer look at the needs of potential tenants, including making the housing affordable in this down economy.

"We are certainly concerned with vacancies. We are trying to keep our lease rates very attractive, so that people who are considering a few different possibilities based upon price and amenities, they are going to choose us," says developer Hunter Woodard.

Low rent prices aren't the only thing that's being considered by developers. Barry Kelley says making potential tenants aware of cost effective advantages is also key.

"By the nature of what we're building, it's actually lowering people's cost. To live in an urban environment, there's a lot of things you no longer need: the car, the grass cutting, the upkeep of your roof," says Kelley.

In a declining economy, these developers are aware of the challenges that lay ahead.

"People are a little more frugal," says Kelley.

When asked what else he might do to make his building more attractive to potential tenants, Woodard says, "Providing incentives when they move in. Do they need help getting furniture up the stairs? Just being there for our tenants."

Since they are not afraid of taking a gamble despite the rough economy, Woodard and Kelley think they'll persevere.

"If things go wrong outside of my control, then that's outside of my control, but I'm not going to tuck in my shell. I'm going to go out and live it," says Kelley.

Developers are hoping that by appealing to young professionals they will add to the revitalization of downtown Harrisonburg.