Ever visited an indoor/outdoor food market like the Downtown Market in Grand Rapids or a Dean & Deluca on the East Coast? They're filled with bustling activity, sunlight, fine food, and more. Now one's coming to downtown Traverse City.

Patti Mercer has purchased the building at 207 W. Grandview Parkway, a high profile spot across from the Open Space and Grand Traverse Bay, and close to the new Indigo Hotel and the burgeoning Warehouse District.

"I've had this idea for probably two years," she tells The Ticker. "I've been visiting markets literally all over the world to get the best from each of them. I've been to France, England, Belgium, Germany, Italy, and all over the United States."

The concept is this: the first floor will feature an indoor-outdoor "foodie market" with eight independent food vendors with "really cool common dining areas, including a deck we'll build off to the one side. The outdoor seating "will be at least three seasons, with warmers," Mercer says.

Mercer adds that there are two "key components" to her vision: first, that the architecture and design be inviting and "something we in Traverse City can be proud of," and secondly that the quality of the food sold be "exceptional."

One of the eight vendor positions will be set aside to help incubate young food entrepreneurs.

But that's just the ground floor. Upstairs, Mercer plans restaurant space, with enough room for one or two dining operators to lease space. On the third floor -- which will be added to the existing two-story building -- residential condominiums will be built-out and will offer "both downtown living and bayside living," she adds.

The concept is still coming together and no drawings yet exist, but Mercer is clear in her own mind about what will eventually become of the space.

"I want it to be fun for adults, but also a place that is comfortable and fun for families and teenagers. It will just be fun, inviting, and cool. We looked at a few different buildings, but this location is perfect. It has the traffic, the visibility, the unobstructed view of the bay, and the parking, with the [city-owned] lot behind it," she says.

The complex will be called Grandview Market.

Mercer purchased the building from Grandview Parkway Properties LLC and Terry Beia, who served as member manager. Beia's group purchased the building in 2002, prior to the power plant's removal across the street. Current tenants, including Studio S, Hurley Glass, Northwoods Tattoo, and Select Provisions, have been given 30-day notices to vacate; Mercer has plans to begin demolition of many inside walls immediately.

The purchase price was not disclosed; the property was listed for $1.295 million. Tom Krause of Krause Real Estate represented Mercer in the purchase.

Mercer's two sons, both with business degrees, have moved back to Traverse City to help with the development and management of the project.

Mercer tells The Ticker she hopes to have drawings soon to present to the city for approval, and also hopes to have at least the ground floor market open by Memorial Day, though she admits, "I'm always optimistic."