James Beard Public Market | Proposed

[65MAX]

Originally Posted by maccoinnich

The same way anything else gets financed. If there's enough support for this market (and drawings like these only help to strengthen that support), then construction becomes more and more likely. Especially if they can leverage the current boom in apartment construction to help the project pencil out.

I think there's support politically to make sure this gets done as well, so expect the city and state to pitch in at some point. PDC, Metro, possibly even Lottery dollars, since this will promote Oregon-grown goods to the rest of the world.

[2oh1]

I wish I had a sense of how realistic this project is and what sort of timeline it'll require. Those images are so compelling, but they're also little more than a tease.

Does this project span three blocks, or does it also span the 4th block that sits between 1st & 2nd, Washington & Alder?

[eric cantona]

This will be a big boost to the success of this project, IMO:

http://www.bizjournals.com/portland/...w-leader.html?

[innovativethinking]

Whatever happened to this project? Ever since those renderings were released months back the excitement totally fell off a cliff

[65MAX]

Originally Posted by innovativethinking

Whatever happened to this project? Ever since those renderings were released months back the excitement totally fell off a cliff

Who says the excitement "fell off a cliff"? I'm pretty sure this project is still going full steam ahead.

[2oh1]

Originally Posted by 65MAX

Who says the excitement "fell off a cliff"? I'm pretty sure this project is still going full steam ahead.

I assume he meant that after the release of a few images, there's been no news or hype.

I'm very excited about James Beard Market too.

[innovativethinking]

Originally Posted by 2oh1

I assume he meant that after the release of a few images, there's been no news or hype.

I'm very excited about James Beard Market too.

Exactly what I meant

[58rhodes]

Originally Posted by 65MAX

Who says the excitement "fell off a cliff"? I'm pretty sure this project is still going full steam ahead.

full steam? they just hired a fund raiser, it wont be full steam until they have working capital for construction--just sayin

[maccoinnich]

Land deal for James Beard market set to close, Morrison ramp design an issue



A land deal between Multnomah County and developers could lead to construction of a public market at the west end of the Morrison Bridge.

But bridge ramps to Southwest Naito Parkway have some concerned.

If the deal closes at the end of the month, most of the revenue from the $10.4 million sale of the county land will go toward the $250 million construction of the county's central courthouse. Meanwhile, Melvin Mark Development Co. would work to build the James Beard Public Market that will host up to 90 food vendors, demonstration kitchens with public meeting spaces for up to 1 million annual visitors, officials said at a Board of Commissioners meeting Thursday.

...continues at the Oregonian.

[maccoinnich]

I listened to the audio of the presentation to the county. Firstly, Ron Paul has resigned as Executive Director of the foundation due to health reasons. He has been replaced by Fred Granum, former CEO of the PSU Foundation (thankfully not the former CEO who got hoodwinked by the fake billionaire).

According to the presentation, gaining control of the site is really important for fundraising. There are individuals and foundations interested in giving money who won't do so until they own the site. So December 21st will be a big day for the market. The current schedule envisions continued fundraising for most of 2016, with a Design Advice Request in late 2016/early 2017. Design Review would happen mid 2017, and construction would begin in 2018. Substantial completion would happen in mid 2020.

[tworivers]

Wow, 5 years isn't a bad timeline at all. I hope they can come somewhat close to that.

macco: any idea about the likelihood of the residential component moving forward? I'm guessing MM would develop those towers separately from the market project? How about the proposed office tower?

Not only are the designs --what we've seen of them-- very intriguing, it would certainly make a lot of sense to add in that extra sense of "place", in a somewhat challenging location, that would be provided by having hundreds of residents on site. Not to mention market business.

Fingers crossed.

[urbanlife]

I will honestly say I will be ecstatic to be wrong about this project. Years ago I called this a pipe dream that was never going to happen, but now it actually looks like it might happen.

[maccoinnich]

Originally Posted by tworivers

macco: any idea about the likelihood of the residential component moving forward? I'm guessing MM would develop those towers separately from the market project? How about the proposed office tower?

No idea really. Adding a few hundred people living there would do wonders for that location, so I hope they go ahead.

[maccoinnich]

Ron Paul passed away. Sad that he didn't live to see the market open, but with a conceptual design and the site now under the control of the market foundation it seems like it's closer than ever.

[MarkDaMan]

Portland's Melvin Mark Cos. to sell a key division
Dec 23, 2015, 11:57am PST Updated Dec 23, 2015, 12:00pm PST
Jon Bell
Staff Reporter
Portland Business Journal

http://www.bizjournals.com/portland/...&t=1450904812+

Melvin Mark Cos., a renowned name in the Portland real estate scene since 1945, has sold its development arm to a longtime executive of the company.

Dan Petrusich, who has been with Melvin Mark since 1988, purchased Melvin Mark Development Company in a deal announced today. Terms were not immediately disclosed.

According to a release, Petrusich will remain president of the development company and will keep all existing employees. The company will be renamed before the end of the year and will continue moving forward on projects already underway, including the James Beard Public Market at the west end of the Morrison Bridge and a 55,000-square-foot building for the Oregon Department of Human Services in Grants Pass.

“With the closing of the Morrison Bridgehead sale by Multnomah County, Dan’s purchase of the company assets is well-timed," said Jim Mark, CEO of Melvin Mark Companies, in the release. "He has exclusively led the vision on the (Morrison) Bridgehead project, and has been instrumental in moving it forward. He is the right person to oversee development and manage it through to opening day.”

Petrusich, who joined Melvin Mark as a partner in 1988, has had a hand in several prominent metro region projects developed by Melvin Mark, including Block 300, which was formerly the Robert Duncan Plaza, and the Sunset Center at Tanasbourne.

As a company...(continues)....

[maccoinnich]

Mentioned in a Portland Mercury article about the Mayor's proposed budget is that it could contain "$200,000 toward the planned James Beard Public Market".

[babs]

Originally Posted by maccoinnich

Mentioned in a Portland Mercury article about the Mayor's proposed budget is that it could contain "$200,000 toward the planned James Beard Public Market".

Love the project but there is no need for public funding unless the public also gets a cut of the profits later down the line.

[ORNative]

If the County agrees to move the on / off ramps, then the city and county would foot the bill for the reconfiguration

[maccoinnich]

Originally Posted by babs

Love the project but there is no need for public funding unless the public also gets a cut of the profits later down the line.

I don't think that the Portland Public Market Foundation expect to be making any profits.

Personally, I think this is exactly the kind of civic institution that the City should make an investment in. Portland will benefit immensely from having the market, and I'm more ok with a relatively small amount of General Fund money going towards making that happen. In any case, if the JBPM spurs the redevelopment of even one surface parking lot along Naito then the city will be receiving much more than $200,000 a year in extra property tax revenue a year.

[babs]

Originally Posted by maccoinnich

I don't think that the Portland Public Market Foundation expect to be making any profits.

Personally, I think this is exactly the kind of civic institution that the City should make an investment in. Portland will benefit immensely from having the market, and I'm more ok with a relatively small amount of General Fund money going towards making that happen. In any case, if the JBPM spurs the redevelopment of even one surface parking lot along Naito then the city will be receiving much more than $200,000 a year in extra property tax revenue a year.

Considering that they got a sweet deal on the land and the public is expected to pick up the costs of moving the on-ramps to the Morrison Bridge, a significant investment is already being made by the public. If they can't figure out how to raise the money to build and operate this facility, public funds shouldn't be there to backfill their plans.