Template revised January 10, 2019.
COMMISSION
AGENDA MEMORANDUM
Item No.
11c
BRIEFING
Date of Meeting
May 14, 2024
DATE: March 24, 2024
TO: Stephen P. Metruck, Executive Director
FROM: David McFadden, Managing Director, Economic Development Division
Annie Tran, Economic Development Program Manager
SUBJECT: International Public Market – Final Report Findings
EXECUTIVE SUMMARY
The Port of Seattle and King County hired New Venture Advisors to complete a feasibility study
to explore the concept of developing of an International Public Market facility in South King
County. This memo and presentation will provide an overview of the feasibility study and
findings.
An International Public Market has the potential to attract tourists and visitors, provide a
gathering space, showcase local cultural attributes, and support economic development and
entrepreneurship for small businesses.
Project Scope
The study was completed in two phases.
Phase 1 of the project primarily focused on community engagement and conducting a market
analysis to understand the market demand and current market conditions in South King County.
Phase 2 of the project included defining the market attributes, performing a site analysis,
developing concept models, developing proforma operating proformas (profit/loss/revenues),
developing an implementation schedule, and producing a final report.
Throughout the duration of the study, Port staff engaged a diverse group of 20+ advisory
committee members including city economic development staff, community-based
organizations, businessowners, and electeds.
Final Report Attached
The final report includes an in-depth analysis of four concept models and the proforma
(profit/loss/revenues) examined.
COMMISSION AGENDA – Action Item No. 11c Page 2 of 2
Meeting Date: May 14, 2024
Template revised June 27, 2019 (Diversity in Contracting).
Next Steps
Port staff are working with local economic development staff from the cities of Burien, SeaTac,
and Tukwila to provide briefings to each jurisdiction’s city councils in the coming months.
ATTACHMENTS TO THIS REQUEST
(1) Final Feasibility Study
(2) Presentation
PREVIOUS COMMISSION ACTIONS OR BRIEFINGS
March 21, 2023 – Memorandum of Understanding with King County for International Public
Market Study
