Market makeover on drawing board
The historic City Market one day will stretch almost to the waterfront, and it won't sit mostly empty at night under a proposal unveiled Monday.
Plans are in the works to add a new shed to the heart of the city's business district by extending the city-owned visitor attraction to the block of Market Street between East Bay and Concord streets. A metered parking area now occupies most of the space.
In addition, the Market is in for a $4 million makeover.
Charleston City Council's Real Estate Committee on Monday unanimously approved an agreement with City Market Preservation Trust LLC to take over management of the historic property Oct. 1. City Council is expected to sign off on the seven-year deal tonight.
Vendors, merchants and tourists will begin seeing changes immediately after that as the new management company begins to paint, steam clean and spruce up the market for about $100,000, said Hank Holliday, one of the principals in City Market Preservation Trust.
More extensive improvements to the facility and the street will come later.
"We think it is the most valuable commercial real estate in the Southeast and the most underused," Holliday said. "We are hoping to help the Market make a lot more money."
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The incoming management group wants to create a venue for nighttime events, such as wedding receptions and parties, and bring life to the Market after hours.
"A singular priority for the manager is to create an environment that will attract local residents as a preferred venue for leisure activities," Holliday and company outlined in an overview of the project.
The addition and renovation call for the city to issue $4 million in bonds in a year or so to finance the improvements to the Market and its streetscape. The proposed new shed is not included in the $4 million, said Steve Varn, another principal in the management firm.
Holliday and Varn aren't just redeveloping the Market to make it look better.
"They have a very vested interest in seeing improvements in the area," said Colleen Carducci, Charleston director of real estate management.
In the vicinity of the Market, Holliday and Varn own between them 300,000 square feet of commercial space, including four hotels, four restaurants and numerous shops on North Market Street.
As for the frequent flooding problems at the Market, Holliday said the city's improved drainage plan should be completed at about the same time as the additions and improvements to the Market by 2012. The proposed new shed would be built after that, Varn said.
The city is in discussion with the State Ports Authority, which is headquartered nearby, to have a designated lot to replace the street parking spaces lost to the proposed addition, Varn said.
After the initial sprucing up, a vision plan will be developed during a "standstill" period that ends May 1, 2010. It is meant to give the manager and vendors time to develop a working relationship to understand the opportunities and deficiencies of existing conditions.
"The Market has not been living up to its potential over the past few years," said Foster Gaillard, an attorney representing the new management firm.
The current gross revenue is estimated at about $1.5 million, said assistant city attorney Adelaide Andrews. The Christopher Co. has managed three of the four sheds since 1974.
"We couldn't have found a better group of people to manage the market," Mayor Joe Riley said of City Market Preservation Trust.
Reach Warren Wise at 937-5524 or wwise@postandcourier.com.
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Comments
ballachulish (anonymous) says...
The market will soon look like every other kitschy tourist trap market (Faneuil Hall, etc.) in any popular tourist town.
While the drainage issue really needs to be fixed, I don't like the "Disneyfying" of an historic landmark, and the last thing the market needs is less parking.
I expect there will be some sweet deals for the vendors who suck up to the new management, and some of the poorer folks who have worked there for decades will get screwed over.
Newer doesn't always mean better, especially in Charleston.
September 23, 2008 at 3:36 a.m. ( permalink | suggest removal )
downtownguy (anonymous) says...
Maybe they will sell less of the kitschy tourist crap so locals actually have a reason to shop there.
September 23, 2008 at 7:42 a.m. ( permalink | suggest removal )
zoomru (anonymous) says...
Uh..OH !!!!
LOOK OUT...taxpayers !!
"..We couldn't have found a better group of people to manage the market," Mayor Joe Riley said of City Market Preservation Trust..."
Didn't people say the same about Freddie and Fannie??
These people need to be WATCHED like a HAWK !!!
September 23, 2008 at 8:35 a.m. ( permalink | suggest removal )
ironhorse (anonymous) says...
Great way to bring in tourism dollars....too bad the NAACP wants to boycott our state.
September 23, 2008 at 8:37 a.m. ( permalink | suggest removal )
deerhunter (anonymous) says...
If the current market place has not been doing that well recently then why not attempt to correct that problem before spending taxpayers money to build another shed. I totaly agree the offered merchandise has much to be desired.
Not to mention losing the parking spaces. Perhaps Mr Riley has tunnel vision.
September 23, 2008 at 9:01 a.m. ( permalink | suggest removal )
dalexan743 (anonymous) says...
With all the complaints about after hours noise down town, do we really need to "bring life to the Market after hours". Activity on the market after hours is the root of the problem, this will only make it worse.
September 23, 2008 at 9:26 a.m. ( permalink | suggest removal )
drdcrimj (anonymous) says...
Until the city can provide parking and GET THE VENDORS TO STOP USING ALL THE PARKING PLACES the market will NEVER be a success.
September 23, 2008 at 9:35 a.m. ( permalink | suggest removal )
commonsence (anonymous) says...
This area really needs to be a pedestrian-only mall area. Bringing more vehicles anywhere near this area is just ludicrous.
September 23, 2008 at 10:23 a.m. ( permalink | suggest removal )
GreenvilleGirl (anonymous) says...
I'd hate to see King Joe and his court get rid of the parking spaces. We love parking there when there is a parking space available (which is rare!).
The Market is the last place I'd want to have a wedding reception or cocktail party. There are so many more venues that are more suitable for a reception. It has already been posted that the inebriated patrons who are out bar hopping are liable to do one (or all) of the following:
1) Yell out some string of profanity about the bride and groom's wedding night;
2) Crash the reception and enjoy the bar and buffet;
3) Run through the reception and plunge into the cake (a new fraternity pledge requirement!); or my personal favorite
4) Throw up right outside the entrance/exit to the reception.
Security guards might help, but restaurant/bar owners are not going to tolerate an uber presence of security or LEO's. It's bad for business!
Wouldn't $4,000,000 in bonds be better used to hire more police officers to help make downtown a safer place, especially at night? to fix or repair what's already there? to keep the area clean and orderly (speaking to public, nasty restrooms at the Market) to improve streets and parking?
September 23, 2008 at 11:11 a.m. ( permalink | suggest removal )
marketvendor (anonymous) says...
The city market cannot afford to lose any parking spaces, and the area doesn't need another market building. Frequently, there are many empty tables as it is.
If there was alot of money to be made there, as there used to be, and if there were vendors with quality, unusual merchandise that would sell well there, vendors would be waiting in line to get space. There isn't and there aren't.
What the market DOES need though is a face lift, PARKING including specific off-site parking for vendors (Get those vans off the street!), lighting, electricity, decent bathrooms and some tight rules about how a space should look.
September 23, 2008 at 1:53 p.m. ( permalink | suggest removal )
burton (anonymous) says...
Parking is terrible downtown already!!! Don't allow King Riley to get away with this!!!
September 23, 2008 at 11:26 p.m. ( permalink | suggest removal )
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