A quarter of a million dollars will help fund strategic planning efforts for Eastern Market that will help grow businesses in the district.
The
John S. and James L. Knight Foundation awarded the $250,000 grant to Eastern Market Corporation to pay for an update of the district’s development plan. Much of the plan from six years ago has already been implemented by the non-profit that manages the market and surrounding business district, such as renovating the farmers market sheds and protecting the character of the historic district.
"We want to make sure we engage our broad range of stakeholders in a more robust way," says Dan Carmody, president of
Eastern Market Corp.
That includes fostering more entrepreneurship in the community. The farmers market now operates both Saturday and Tuesday and includes more space for a broader variety of vendors. Now there is more room for food entrepreneurs trying to get lifestyle businesses off the ground.
One of those challenges is modernizing the built infrastructure in the market. Many of the buildings are over a century old and were not constructed to accommodate 21st century businesses. Eastern Market's leaders wants to find a way to maintain the authenticity that plays a critical part in attracting 2 million visitors annually while also providing a solid foundation for young businesses to grow.
Eastern Market Corporation expects the new strategic plan to encompass the central market itself, along with the Gratiot commercial corridor and adjacent light industrial area. The new report is set to be released in late spring of next year.
Source: Dan Carmody, president of Eastern Market Corp
Writer: Jon Zemke
Read more about Metro Detroit's growing entrepreneurial ecosystem at SEMichiganStartup.com.
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