Last updated on August 29th, 2022 at 03:04 pm
The James Beard Public Market in Portland, Ore., is just weeks away from closing an agreement to secure a site at the Morrison Bridge, the Portland Business Journal reports.
The Multnomah County Commission voted 4-0 last week to approve the $10.4 million sale of a three-acre parking lot on the west side of the Morrison Bridget to the market and its development partner, Melvin Mark Co. The county selected the market after offering the property for sale in 2011.
Officials expect to sign a disposition and development agreement within three weeks.
The deal gives market promoters 37 months to raise the approximately $25 million it will take to develop the market so it can open with no debt. Supporters anticipate opening the market in 2016.
Market supporters, led by executive director Ron Paul, spent more than a decade seeking a site for a year-round farmers market. The Morrison site, currently operated as a parking lot, will be developed with office space as well as market facilities that celebrate locally produced food, the Journal reports.
