KNOXVILLE, Tenn. — Knoxville's Downtown is thriving.

New condominiums are popping up, with some priced as high as nearly $700,000.

Downtown Knoxville resident Aaron Wright said Knoxville is evolving into something great.

"I think Knoxville, the development, is booming. And it's amazing," Wright said. "I think North Knoxville, north side of downtown, is one of the best places to be."

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He and his wife have lived in the downtown area for nearly three years, and the growth is clear.

"We both have seen young professionals stick around because of some of those new businesses," Wright said.

Downtown Knoxville said there are 54 retail businesses as of last month in the area.

And, real estate agent Suzy Trotta with Trotta Montgomery Real Estate said, with new business comes new places to live.

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"Well, I think the question everyone wants to know is, is Knoxville going to become like Nashville?" Trotta said. "I don't think we're ever going to get that big, but I think we're growing up as a city."

Places in and around downtown including Regas Square, City House Condos and the Crozier have all popped up.

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Some condos are hovering around half a million dollars and more.

Trotta said the average price per square foot in condominiums in the area is about $274.

"It's still really affordable to live here even though these prices seem high, and people get sticker shock," Trotta said. "But if you look at other downtown areas, especially large downtown areas, this is not bad."

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And she said the demand is there.

"We're selling the condos, we're personally selling some of these condos, they're pending, you can see in our multiple listing service that they're selling," Trotta said. "I don't think the builders would keep building them if they weren't selling."

Trotta said the outlook is bright--growth should continue, especially since demand for these places hasn't seemed to go down.