Portland Public Market
Portland, Maine (1996-2001)
A local philanthropist committed to revitalizing downtown Portland and to providing economic opportunities to small Maine businesses retained Market Ventures to oversee the development and operation of the new Portland Public Market. Phase I tasks included demographic and market research, competitive analysis, tenant mix formulation, the creation of operating pro forma for each market vendor and the market as a whole, conceptual design, and the preparation of a development pro forma and timeline. MVI was then retained to oversee all aspects of construction, leasing and marketing. Construction began in July, 1997 and the Market opened in October, 1998 with over 80% of space leased. MVI operated the Portland Public Market under contract with the owner until October 2001. Each year the Portland Public Market reached its sales goals, the Market reached full capacity in 2000 and attracted a top New York City chef to develop a restaurant in the Market that featured Maine foods.
Among many honors, the Market won the 1999 Rudy Bruner Award Silver Medal for Urban Excellence, the American Planning Association Award for Exemplary Economic Development, the International Downtown Association Merit Award for Economic Development, and the first ever AIA/HUD Community Building by Design Award.