Little, 35, is among the first tenants moving into the Art Center Lofts, a five-story, 42- unit loft building - the first residential project to open downtown in more than 20 years.

Moving into the $8.4 million condominiums, which border the Hillsborough River near the Tampa Bay Performing Arts Center, Tampa Museum of Art, Stetson Law School and the University of Tampa, is a risk for Little, who grew up in Brandon.

But she is willing to shuck conventional housing for urban living, she said on a recent afternoon walk-through of her two-bedroom unit.

Little, as other owners who begin moving into the Art Center Lofts this week, has faith downtown will become a vital, fun place to live.

``My immediate goal is to walk to a play,'' she said.

Paul Ayres, marketing director of the Downtown Tampa Partnership, said the Art Center Lofts indicates what lies ahead for downtown and the nearby Channel District.

About 3,500 new residential units - either planned or under construction - will bring more than 5,000 new residents to the urban core in the next five years. Housing costs range from $155,000 to $4.5 million.

Channelside 212 Lofts, with 28 units, opened in September 2003 in the Channel District. The 89-unit Victory Lofts, also in the Channel District, is set to open Dec. 9.

``Seeing lights on at Art Center Lofts makes a huge difference,'' Ayres said. ``Seeing people walking their dogs in the Channel District also helps with our vision. It means people don't have to rely on sales and marketing to learn about urban living here. They can go to the residents and ask, `What is the good and the bad of this life?' ''

And, Ayres said, retailers will take notice when the residential units are up and running.

Trading Down In Size

Little, divorced two years ago, is realistic about the drawbacks of downtown living. ``I won't be able to go running at 10 at night in downtown Tampa like I did in Beach Park,'' she said.

She also faces a space challenge, as she trades a 1,800- square-foot home for a 1,200- square-foot loft.

``I don't consider myself a clutter person, but over the years, you do collect things,'' Little said. ``So I'm spending all my time right now giving stuff away.''

Among the items she got rid off were a full-size washer and dryer to her sister. Her loft accommodates only stacked laundry machines.

From her $250,000 unit, she has views back and front of the river. She also has a view she describes as ``a little weird'' - a front-row seat to the elevated Interstate 275 traffic.

Tenants Are Optimistic

Real estate agent Dallas Coffield said the lofts sold out within months of going on sale. Smith & Associates Realtors also raised prices as the demand increased. Only two units went for the initial asking price of $145,926 for a one- bedroom, the lowest in a price range that caps at $300,000 for a two-bedroom unit.

Sean Croyton, 30, sold his house in south Tampa to buy a $180,000 one-bedroom place at Art Center Lofts.

``This is the beginning of transforming the downtown into someplace people will want to go,'' he said.

Croyton said he would have to adjust to the lack of retail stores, especially grocery stores, within walking distance. ``I'm pretty sure I've made a good investment, but when you're the first, you have to be patient for everything to fall in place,'' he said.

Blannie Whelan, 52, looks forward to river activities. She loves to kayak but is concerned downtown parks have so few boating facilities.

A nurse who works in St. Petersburg, she sold her south Tampa home because she sees a bright future along the downtown waterways. ``This will all change very quickly,'' she said.

Thomas Bonafede sold his town house in Tampa Palms to be closer to MacDill Air Force Base, where he works. ``I'm easily going to save a half-hour in commute time,'' he said.

Bonafede said Art Center Lofts buyers gambled on this development, buying without the benefit of seeing a model. ``But the craftsmanship turned out to be excellent,'' he said of the concrete walls, granite countertops, wood cabinets and walk-in closets.

The lofts property was earmarked for residential development more than 20 years ago. One Laurel Place, which opened next door in the early 1980s, has been alone in this pocket because of lukewarm interest in downtown housing before the national trend hit Tampa.

Laurel Place's owner sold a 1-acre plot to Miles Properties of Atlanta, which built Art Center Lofts, Coffield said.

``Miles has a lot of experience in downtowns, especially Atlanta, so they were ready to go,'' Coffield said.

Miles now turns its attention to Ybor City, where it plans to convert the 104-year-old Tampa Box Co. on Adamo Drive into a 53-unit loft complex.

Reporter Janis D. Froelich can be reached at (813) 259-7143.