As City Unveils Master Plan for Renovated West Side Market, Now the Question of How to Pay For It

A rendering of the proposed"East Arcade" of the West Side Market envisions the now vacant space as a 21st century food hall. Stakeholders are currently planning how to properly fund it.

Spearheaded by project leads Jessica Trivisonno and Ted Spitzer, the visuals depicted a West Side Market brought fittingly into the 21st century: A formerly-vacant"East Arcade" converted into a diverse, 12-stall food hall; an alleyway envisioned as seating area; lockerrooms converted to teaching kitchens; and more.

As Trivisonno reported at Truss, the West Side Market is more of a city burden financially than a revenue-producing asset. It currently relies on a $700,000 annual subsidy from City Hall's Special Revenues Fund. Part of this is due, Trivisonno said, to the market being 32 percent vacant, a sign of the building's desperate need to modernize while keeping vendor rents affordable.

Once the market reaches nonprofit status, to be finalized by City Council in September, Spitzer said a whole wealth of revenue streams could open up to manage what will be a $32 million gap. Spitzer envisions"confidently" managing the vast parking lot with a Pay-By-Phone model; taking in dollars from cooking classes and lucrative wedding parties; and accepting what could be millions in donations and sponsors.

But the promises of matching the cool factor of Atlanta's Krog Street Market, or the colorful practicality of Cincinnati's Findlay Market , some worried, met worries that the market would change too much.

España Últimas Noticias, España Titulares

Similar News:También puedes leer noticias similares a ésta que hemos recopilado de otras fuentes de noticias.

Officials explain West Side Market plans in public meetingIn the Market for a Plan is the fifth installment of an eight-part Community Speaker Series about a potential future for the 111-year-old West Side Market. An audience of 200-plus learned about the entire master plan Thursday night.
Fuente: clevelanddotcom - 🏆 301. / 63 Leer más »

Master plan unveiled for West Side Market upgrades and improvementsA new masterplan for the West Side Market is revealed to the public on Thursday night and it includes 44 million dollars in upgrades, repairs, and improvements.
Fuente: cleveland19news - 🏆 70. / 68 Leer más »

New proposal for West Side Market includes more public space, upgraded infrastructureThe proposal includes infrastructure updates long-sought by vendors, as well as increased public seating and amenities meant to help the aging market better serve a modern world.
Fuente: WEWS - 🏆 323. / 59 Leer más »

West Side Market transformation will cost at least $44 million, according to updated master planIn the Market for a Plan is the fifth installment of an eight-part Community Speaker Series about a potential future for the 111-year-old West Side Market. An audience of 200-plus learned about the entire master plan Thursday night.
Fuente: clevelanddotcom - 🏆 301. / 63 Leer más »