The report was completed by Market Ventures, Inc. and is available on the city website at: www.springfield-ma.gov/planning .
Mayor Sarno states, “First, I want to acknowledge and thank former City Councilor Attorney Sean Curran for his advocacy on this potential economic development project through this feasibility study. My administration is always looking at and is interested in exploring new ways to bring vibrancy, economic development, and enhancing quality of life improvements for our residents and visitors. My EcoDev Team, led by CDO Tim Sheehan, worked with Sean on this issue and thanks to Market Ventures, this feasibility study now allows us to take a deep dive in what it would take to bring this to Springfield. The report shows this kind of project could work in Springfield and has the potential to add significant value to all of our other existing attractions and amenities. My administration will continue to explore all possible options while seeking private developers that might be interested in this project.”
Former City Councilor Sean Curran is a proponent of the Food Hall concept in Springfield and the economic boost it could bring to Springfield and the region. The report was presented to the City Council Economic Development Subcommittee in December that Councilor Curran chaired. Ted Spitzer of Market Ventures presented the highlights of the report and CDO Sheehan also attended the meeting to discuss the findings.
“The city has not committed to the concept as a public project at this point,” said Sheehan. “But what we have now is a conclusion that there is demand in Springfield for this type of venue, and a level of demand that private developers should take note of.”
Former City Councilor Curran stated, “I want to thank Mayor Sarno and his administration for working with me on this feasibility study. This project would boost economic development, create jobs, and increase foot traffic and tourism. Springfield has the real estate that makes this potential project doable.”
The report indicated that a venue in Springfield should focus on more of a Food Hall component than a Public Market, in that there would be more demand for food and beverage vendors. It recommends a facility of approximately 10,000 – 16,000 square feet, suitable for about 12-20 vendors and 140 customer seats. This type of facility could potentially generate annually up to $8.4 million in sales for fresh and specialty foods, and $10.2 million for food & beverage vendors.
The report also provides case studies at similar venues both locally and nationally, and looked closely at the Parkville Market in Hartford, and the Worcester Public Market to better understand what development models may work best. The report indicates the cost to develop similar venues of this scale are in the range of $6.6 million to $9.9 million.