FERRIDAY, La. – Macon Ridge Economic Development Region officials, along with private investors, are considering turning vacant First Street buildings into apartments for the &uot;working poor,&uot; said President Buddy Spillers.

Buildings that housed Pasternack’s Hardware and Myer’s Department Store have been vacant for at least 20 years and are among those being considered for extensive renovation, said Mayor Glen McGlothin.

The complex would revitalize downtown and put customers closer to existing businesses, Spillers said. But first, Spillers must gauge if businesses would welcome the complex and whether the buildings’ owners will sell them. &uot;I talked with them less than 90 days ago, and they’re all interested, but papers haven’t been signed yet,&uot;&160;he added.

Jerri Pierce of Ferriday, who owns the Myer’s building at First Street and Mickey Gilley Avenue, would only say the project &uot;is in the very early stages of discussion.&uot;

Joe Pasternack of New Orleans, owner of the Pasternack building, could not be reached for comment.

Concordia Drug Co-Owner Frank Smith, whose store has been burglarized in the past, said he believes such a complex would bring more crime to the area. &uot;I’d like to see a mini-mall in there instead, something that would create more sales taxes,&uot;&160;he said.

&uot;I don’t see where it would hurt anything to have apartments like that over here,&uot;&160;said Jake Jones, owner of Southern Precision Dental Lab.

But the opening of such a development, if one is wanted in the area, is at least two to three years away, Spillers said. There are many hurdles to clear first, such as obtaining funds for the project and buying renovating the buildings.

Unlike the other buildings, the Pasternack building is not in the town’s downtown historical district. It could not be added to the district unless its original facade was restored. And unless it is in the district, any apartment project in that location would not qualify for needed historic district tax credits.

The project could also benefit from affordable housing tax credits from the Louisiana Housing Finance Agency, but not until another project Macon Ridge has planned, an apartment complex on Lincoln Road, is finished and occupied.

On Tuesday, the Ferriday Town Council approved water and sewer service to the Lincoln Road site.

In addition, McGlothin said the First Street buildings, which are now zoned commercial, would need to be zoned residential for such developments.

&uot;But I&160;think something like this (apartment complex) would help downtown,&uot; McGlothin said. &uot;Having people would add a lot to the area, and renovating those buildings would help the area historically, too.&uot;

There is also the matter of funding. If the project received the needed approvals, Macon Ridge and the project’s private investors – who Spillers will not name – would form a limited partnership to develop the project.

Macon Ridge’s Community Development Corp. would then apply for a loan from a local bank and pay back the loan from revenue from the project, which would be a Section 8 housing complex for families and individuals with low to moderate incomes.

Although a consultant has conducted studies for Macon Ridge in the past to determine the need for low-income housing in the area, the consultant will not be hired to do an updated study for this project until it is determined whether the public wants the complex to be developed.

To help prevent crime in and around the complex, Spillers would like to provide a free apartment at the complex to a police officer and work with the Police Department to increase patrols in the area.

Similar developments include a former high school building that was renovated and subdivided into apartments in downtown Rayville.