“Both of these developers are not huge risk takers,” Farrell says of the Cupples and Ballpark Village plans. “These are both unique projects, they’re moderate in scale and well-located.”

Will they just empty out other downtown buildings, although on a smaller scale than Metropolitan Square did a quarter-century ago? Asynchrony, the reported lead tenant for Cupples X, would move from another Koman building nearby.

The incentives given to Ballpark Village’s developers may limit such a reshuffling. A proposed amendment to the city’s redevelopment agreement would require the project to target companies that are new to downtown or in danger of leaving.

That clause will be difficult to enforce, Farrell notes.

Given the number of downtown employers that have already moved to Clayton, almost any remaining business can credibly threaten to leave.

Richard Ward, another veteran development consultant, thinks the building plans are a hopeful sign. “There needs to be a new product out there that attracts new people,” he said. “We’ve been watching them traipse out to Clayton because downtown didn’t have what they wanted.”