Council will vote on a resolution Thursday that would adopt a master plan to revitalize the popular market.
According to the master plan, Pike Place Market costs rose by 31%, while revenue grew by only 23% over the last five years. And as the pandemic shuttered the market, officials provided $3.8 million in financial support to tenants for almost 16 months, stopped all capital projects and partnered with the Pike Place Market Foundation to help vendors stay in business.
The goal is to connect more areas of downtown Seattle, which the project aims to do by adding a greenway for pedestrians and cyclists to the east side of Alaskan Way on the downtown waterfront. This greenway will connect the Olympic Sculpture Park to Pier 62, creating a safer and easier way for people on foot and bike to get to the heart of downtown.
Pike Place Market receives no operating funds from the city. Funds must be covered by rent and parking fees.
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