NATCHEZ — John and Ben Peterson want to offer Natchez a little bit of everything.

The father-son duo is planning to take the 28,000-square-foot building on Franklin Street that formerly was City Bank and Trust and convert it into living spaces called the Franklin Venture.

John Peterson said the top two stories of the three-story building will be converted into condominiums, six to be exact.

Also, the ground floor will be transformed into what John Peterson called a “beauty emporium,” and will include a score of amenities, including a hair and nail salon, tanning beds, a dress and accessory shop and possibly a small flower shop and exercise area.

“It would cater to women but it wouldn’t discriminate,” John Peterson said.

He said there is a clear need for housing in the downtown area.

“There is a demand; we’ve looked at the market and Natchez seems to be booming as far as we can tell,” John Peterson said.

The two recently went before the planning commission and were granted the go ahead to build the condos.

City Planner John “Rusty” Lewis said he is in favor of the project.

“I think it’s a real exciting development,” he said.

Lewis said the timing is impeccable.

“Apparently the city bank building has deteriorated significantly in recent years,” he said. “Were it not for the advent of this developer, the Peterson family, it could be past the point of no return for the building.”

Mimi Miller, director of programs for the Historic Natchez Foundation, said the roof and the built in gutters are in poor shape due to water infiltration.

John Peterson said the roof has already been repaired, but that’s just the beginning.

“We’ve got a lot more work to do,” he said.

Right now plans are being drawn up by Johnny Waycaster of Waycaster and Associates.

John Peterson said he hopes to have the project completed by the Great Mississippi River Balloon Race.

“It’s very tentative,” he said, however.

According to Miller, the building was constructed in 1904 as Baker & McDowell Hardware Company.

In 1926, it was renovated by New Orleans architects Weiss, Dryfus and Seiferth, who also built the Eola Hotel.

It was remodeled in the neo-classical style that was popular in the 20s.

City Bank and Trust was housed in the building until the late 1980s.

In 1990, it was sold to Loveta Byrne who transformed it into the restaurant Pompous Palate.

The restaurant closed in 1994 and has been vacant ever since.