South Academy Boulevard in Colorado Springs has caught the attention of city officials, who say it's one of five older areas in need of redevelopment. But the stretch of Academy -- roughly between Drennan Road on the south and Constitution Avenue on the north -- isn't close to becoming an urban renewal area, despite rumblings within the real estate industry. Hendricks & Partners, a national real estate company that specializes in apartments, recently issued a second quarter report for the Rocky Mountain region. In giving an overview of the Springs' economy and real estate landscape, Hendricks declared city officials were planning to designate South Academy as an urban renewal site. Not true, says Chuck Miller, a retired city planning official and now a consultant to the Colorado Springs Urban Renewal Authority. Yes, Mayor Lionel Rivera and City Council members identified South Academy as a problem area. But the Urban Renewal Authority isn't considering a South Academy redevelopment project, Miller said. "Is it a possibility that it could be an urban renewal area?" Miller said. "I suppose it could, but we haven't been approached by the city and we're not working on it."