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Long-established plans to open a public market in Portland are moving forward. The James Beard Public Market will occupy a building in downtown Portland, its parent organization announced on Monday.

The building, at 622 S.W. Alder St., is on approximately one-third of a block north of Pioneer Courthouse Square. It will become a hub for an estimated 40 small businesses. The market is named for the late James Beard, a chef, author and TV personality who was born and raised in Portland.

The market will include a teaching kitchen, an event space, a restaurant, a bakery, a fish market, a butcher shop, a cheese shop, a wine merchant space, local farm stalls, space for prepared foods, a bookstore, and fast casual dining space. The market will total 38,140 square feet, including a rooftop event space.

The daily, year-round marketplace will celebrate the bounty of the Pacific Northwest, according to a press release. The organization’s mission is to enhance access to fresh local food, promote sustainable agriculture and affordable nutrition, and revive Portland’s public market history. The market will provide access to healthy food options and economic opportunities, according to the organization.

The project team is led by BCV Architecture + Interiors of San Francisco and local firms COLAB Architecture + Urban Design, Grummel Engineering, and Hoffman Construction.

The market’s development has gained momentum through a public-private partnership allowing the organization to secure the site. Lead support is from the OCF Joseph E. Weston Public Foundation and a philanthropic developer partnership with the Schlesinger family. Pre-development funding and public support have been provided by Prosper Portland, the office of Mayor Ted Wheeler, Travel Oregon, and Travel Portland, among others.

To date, the James Beard Public Market organization has raised approximately $1.5 million in its $3 million capital campaign to purchase the building. The total project cost is estimated to be between $15 million and $20 million, according to the organization.

Construction of the market space is expected to start in January 2025, with the first phase slated to open by the end of next year, spokesperson Kayt Mathers stated in an email. First-phase details are not set at this point.

The entire project is slated for completion in September 2026.