James Beard Public Market finalizes $3 million purchase of historic Ungar Building
PORTLAND, Ore. (KOIN) — More than a century after the construction of a historic Portland property, the building will hold the long-awaited James Beard Public Market.
On Friday, the group announced it had finalized the purchase of the Ungar Building downtown. Market spokesperson Kayt Mathers told KOIN 6 the property was acquired for $3 million.
In a social media post, project leaders said the city landmark will soon begin its “most flavorful chapter” thus far.
“Standing proudly since 1923, this architectural gem was designed as Portland’s answer to the grand shopping arcades of the Eastern United States,” James Beard Public Market stated on Instagram. “Hungarian immigrant Nicholas Ungar envisioned a revolutionary retail experience: a two-story marketplace alive with activity, where the Colonist Restaurant anchored street-level shops and boutiques lined a second floor illuminated by massive display windows.”
Project leaders originally revealed the market would be found on SW 6th and Alder St. in October, although they hadn’t officially purchased the Ungar Building yet.
Mathers said the team considered other sites before selecting the historic property, but its pre-existing infrastructure and “location near Pioneer Courthouse Square is aimed at amplifying Portland’s status as a foodie destination.”
In 2015, KOIN 6 reported the market was likely to open in an 80,000-square-foot space at the foot of the Morrison Bridge by 2018. This location was abandoned the following year, due to planning challenges and building costs.
Project leaders told KOIN 6 a 50,000-square-foot market was being considered at sites including the southwest waterfront near Zidell Yards and the southeast waterfront near the Oregon Museum of Science and Industry.
A portion of the James Beard Public Market is now set to open this fall, with the full, 38,140-square-foot space slated to open next spring.
The market will serve as an event space, bookstore, cheese shop, wine merchant and more.