First, the facts: Twin Cities permits taken out tobuild urbanmulti-family housing projects haveskyrocketed to 1,038 last year,up from a mere 60 in1991, according to the National Multi HousingCouncil.Prices in the once-dormant downtown condo markethavedoubled in the last few years, and demand isoutstrippingsupply, say local brokers.

If the aging Baby Boomer has anything to do with it,the U.S.could be in the early phase of what could bea very long boom indowntown housing. The key marketfor the downtown condo is the emptynester from 45 to64 years old. They don't have to worry aboutschools.They want convenience and fun, not long commutes andyardwork. They have money. But most importantly, theyare the fastestgrowing segment of the U.S.population.

``People want to be near the action _ and more andmore peopleare complaining about drive times,'' saidJim Seabold, a real estatebroker who representsseveral projects in downtown St. Paul.``Whatused to take me 15 minutes now takes me 30, andit's gettingworse.''If the demand for downtown condos is going up, then sohasthe supply- due in part to urban planners who arebattling urbandecay and suburban sprawl.Many cities, including Minneapolis andSt. Paul, havespent millions of dollars to clean up theirdowntownsand stock them full of sporting arenas, theaters,museums,riverfront parks and fancy restaurants. Somevisitors conclude thatif downtowns are a great placeto visit, why not just stay.