"There's no doubt the financing options have tightened over this past 6 to 12 months,” said Rusty Worley, executive director of the Urban Districts Alliance.

For Springfield, that tightening means slowing and changing two projects in center city.

The Heers building originally hoped to house high end condominiums but that idea is falling away with the fall of the housing market. Worley says the St. Louis-based developer is pitching the space to a commercial tenant instead.

"They're having to rethink their business model and think, ‘What are the strongest tenant we need to have to get financing?’” he said.

Financing is also to blame for a patch of grass next to the Springfield Expo Center continuing to stay empty. John Q. Hammons’ plans for a luxury hotel on St. Louis Street next to Hammons Tower won't develop as quickly as planned.

The Springfield City Council recently gave Hammons’ developers until April 2010 to start construction. His original contract with the city stipulated that he had to begin construction by this winter.

Worley says both projects, while changed, aren't going anywhere. And, with other projects keeping up pace, development in Springfield is striking a happy balance.

"We're excited to have Hollywood Theaters opening here in a month. We've had several new retail businesses open in the last month so, in spite of the national economy, we're seeing a lot of positive momentum happening downtown," he said.

How the economy weathers 2009 will be the best indicator of when these projects will get under way.