The largest condominium development in downtown Harrisonburg is changing its business model.

Urban Exchange had planned to sell almost half of its 194 condominiums. However, real estate officials say rental demand and buyer hesitancy made the developers change their minds and lease all of the condo's instead of selling them.

Officials also say resident demographics haven't changed, as they are attracting people ranging from 20 to 80 years old. A variety of people are still interested in leasing.

"Before we started this project, we thought that would make a significant difference in the demographic of who would be living at Urban Exchange. We have been proven wrong through this process. We have actually seen a relatively similar demographic looking at both sides of it," says Scott Rogers, marketing official.

Buyers who were in line to purchase a condo now can't because of the new plan.

However, Rogers did say some buyers are in line for two new condominium projects that Urban Exchange will develop in downtown Harrisonburg.

One will be located in a renovated building and the other will be built new on an empty lot. Rogers wouldn't say where the condominiums would be located. He also said a time line for construction has not been made.