Time Out Market to stay open as new operator takes over Boston food hall
It appears that Boston's largest food hall will stay open after all.
Longtime local real estate developer Samuels and Associates has stepped in to keep Time Out Market open, just one day before it was set to close, The Boston Globe reported .
Samuels and Associates has agreed to take over management of the Fenway food hall, which previously announced that it would be shutting down on Friday after nearly seven years.
"It's a critical piece of the neighborhood," founder and chairman Steve Samuels told The Globe, adding "we all felt that with a little creativity and hard work, that this is definitely worth saving."
Time Out Market, which first opened in 2019, revealed on Jan. 14 that the massive food hall would close for good on Jan. 23.
Time Out CEO Michael Marlay said the decision to shut down the 27,000-square-foot space was largely driven by a decline in business.
"Following the pandemic, we have seen the Boston Market recover and grow, and we have focused on initiatives driving further growth," Marlay said in an online statement . "However, footfall until today remains inconsistent in the area due to ongoing hybrid working, and in addition, operating costs have increased — all of which prevents consistent profitability."
He added that "it has been an honor to serve Boston" and that Time Out Market has "loved our time" in the city.
"Boston is a fantastic city with outstanding food and cultural scenes. We want to thank our team, our chefs and restaurateurs who truly are the best of the city — it is thanks to all of them that the Boston Market has been a wonderful place for our guests, whom we also would like to thank wholeheartedly," Marlay continued. "We are proud to have been able to give our vendors a platform in Time Out Market. We will continue to champion these outstanding, best-of-the-city talents. We hope to welcome many of you as our guests at the Market this month to enjoy our vendors' amazing food."
Samuels told The Globe that he was moved by the community's overwhelming response to Time Out's closure. He even said Mayor Michelle Wu reached out and encouraged him to get involved. This led Samuels to partner with Alexandria Real Estate Equities , which owns 401 Park where Time Out Market is located.
He now plans to work collaboratively with the 15 vendors to find ways to improve business and keep them open. Samuels also told The Globe that he will license the Time Out name and brand, meaning the market will keep its name and signage.
"We're going to take our cues from the people who know the business well, and put a lot of energy into new, exciting, creative ideas," he told The Globe. "We'll give it a good refresh."
The Globe also noted that Samuels initially brought Time Out to the ground floor of 401 Park in 2019. MassLive has reached out to Samuels & Associates for confirmation.
Time Out Market opened in June 2019, in the Landmark Center in Fenway, which is now called 401 Park. The massive hall is located at 401 Park Drive on the corner of Brookline Avenue.
Time Out Market has 15 food and beverage concepts , including local staples such as Union Square Donuts, anoush'ella, A&B Burgers, Far Out Ice Cream, Lulu Green and more. Time Out also hosts dozens of events and live music.
The market is part of the global Time Out brand that has locations around the world, including New York, Los Angeles, Chicago, London and Miami.
The first Time Out Market opened in Lisbon in 2014, while Boston was the company's fourth city. Time Out Market will close its Chicago food hall on Friday.
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