The Port Authority approved an Austin Main Street Project plan Wednesday afternoon for two renovations, one interior and one exterior, at 422-424 Main Street N.

Funds channeled by the Port Authority from the HRA and The Hormel Foundation will go toward fixing up the storefronts of the karate studio, photo studio and beauty shop at the corner of Fourth Avenue and Main Street. Part of the work will include unblocking the upper-level windows on the north face of the building.

The project also carries interior renovations for two apartments on the second floor. Craig Byram of the Austin Main Street Project said the health of the downtown area is dependent on having quality places for people to live downtown. The area would benefit from people living there who can afford to shop, seek entertainment and consume services downtown.

“It’s located on an important intersection,” said Craig Byram of the Austin Main Street Project. “There’s a good track record of showing there actually will be people living in these when we’re done.”

He said the project would likely bring in a new startup business to occupy the vacant spot next to Martial Art Fitness Centers Inc.