PPS Services: Public Market Feasibility, Development and Implementation

Dec 31, 2008
Dec 14, 2017

The tradition of public markets is being re-established in American communities to serve today's needs. There are over 4300 farmers markets in the U.S. and their numbers are growing. At the same time, there has been a revival of historic public markets; permanent halls that operate year round. There has never been more interest in public markets than there is today.

PPS defines public markets as markets that operate in or as a public space, feature only locally owned and operated businesses, and which have a broader public purpose, such as neighborhood revitalization or improving community health. It is a definition which covers a wide variety of markets, forms which are still evolving. Public markets meeting PPS's definition, as shown by the lessons of so many farmers markets today, do not even necessarily require a permanent building or facility. However, as demand for local food increases dramatically around the country, many communities are looking at ways to operate their markets more year round, providing more opportunities for local producers and customers.

Historically, there were about 150 U.S. cities that bucked the trend when others were tearing down or closing their markets in the wake of the supermarket expansion beginning in the 1930s. Historic markets like Pike Place in Seattle, Reading Terminal in Philadelphia, and North Market in Columbus are models for the tremendous opportunity public markets have in today's world of shopping malls and retail chains. Year round public markets have been successfully created in Vancouver, Little Rock, and Kansas City. These markets also show that with careful planning, investment, and effective management public markets can again become centers of sustainable local food economies and community life.

Public markets, unlike ubiquitous retail chains operating in a globalized food economy, cannot be divorced from the place in which they are found. To be successful, they must reflect the bounty of their food region and be an anchor destination in their community. In their immediate locations, truly successful public markets become catalysts and centers of entire districts that offer a variety of places to shop, live, stroll and be entertained.

Public markets are not without risk. The more significant the real estate investment, the greater the need to raise funds for capitol costs. Failure to open a market essentially debt-free can saddle operations, reducing the amount of funding that can be spent on other critical management needs, such as marketing. However, with the right plan, business mix and management, a public market can represent a real step forward for the enhancement of the local food economy and the community it serves.

While the services outlined here address the most complex forms of public markets--where the client wishes to develop a major indoor market component to the projects--these services, in some form, apply to all kinds of market development. All markets can benefit from strategic business planning, but the steps to prepare this plan are simpler if a significant capital investment and real estate development component is not involved.

PPS assembles a team of experts to work with the development team for new public markets. All the team members have years of successful real-world, hands-on experience in assessment, planning, marketing, leasing, managing, and developing projects that help revitalize markets. Each brings different experiences in the assessment: planning, marketing, leasing, financing, and development of markets and their revitalization. Together we are able to put together strategic marketing plans that will insure that appropriate recommendations are made for the development of a new public market.

TYPICAL SCOPE OF WORK

PPS's assistance generally falls into three phases:

Phase I: Vision and Feasibility Assessment

Phase II: Public Market Concept Development

Phase III: Implementation

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