Lexington on Central is the latest of more than a half a dozencomplexes to go up in the central business district area in recentyears. The now vibrant Downtown is attracting more and morebusinesses and along with it residents who don't want to make thedaily one-hour commute to the suburbs.

"Metro Phoenix has enjoyed a banner year for urban and downtowninfill residential projects," says David Picerne, president ofPicerne.

Atlanta-based Post Properties recently began leasing apartmentsat Roosevelt Square, which has more than 400 units in the firstphase. The complex is on Central Avenue at Portland Street nearDowntown. Last month, Phoenix-based Gray Development tied up aparcel at the corner of Central Avenue and McDowell Road with plansto build Central Square, a mixed-use development that will have75,000-sf of office space, 25,000-sf of retail and 384 apartmentunits. Construction could begin by next summer.