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Report: Proposed Boston Public Market “Well Positioned for Success” at Parcel 7 Site

A consultant hired to research the implementation of a Public Market for the ground floor of the Parcel 7 garage next to the Greenway and Haymarket has concluded that, “Strong supply, demand, a great location and massive public and government support puts this project at a great starting point.”

The Massachusetts Department of Agriculture recently released the Implementation Plan for a Public Market in Boston, prepared by Project for Public Spaces at a cost of $130,000. This report follows the BRA’s 2009 Market District Feasibility Study.

Geared toward products from Massachusetts, the report says that over 100 local farmers, food producers and fishermen are interesting in selling at the market and that the “public’s appetite is ravenous for this market.”

Implementation costs are estimated to be at least $8.5 million. An operator would be expected to breakeven at $16 million of annual sales using an average of $75/sq ft for permanent tenants and “the market has the potential to capture $15.5 to $19.5 million in sales.” These figures support the State’s recent committment to initially fund the market with $10 million. A 2012 opening is planned.

View the full report.

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