Portland Public Market, Portland Maine (1996-2001)

Ted Spitzer led the concept planning and feasibility analysis for the Portland Public Market, a new year-round public market at a site selected by the owner in downtown. Betty Noyce, a wealthy philanthropist interested in economic development, had purchased the former parking lot and was searching for a more active use. Feasibility study 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. Market Ventures, Inc. was then retained to oversee all aspects of implementation, including oversight of design, construction, leasing, marketing and operations.

Following successful completion of its feasibility study in 2006, 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 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 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.