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Pike Place Market is a nine-acre historic district created in 1971 by the City of Seattle to protect and preserve the Market and its buildings from future commercial development and to safeguard the Market for generations to come. 

The Market Historic District and most of the buildings are managed by the Pike Place Market Preservation and Development Authority (PDA), a not-for-profit public corporation chartered by the City of Seattle in 1973 to manage the properties within the district.

The charter requires the PDA to preserve, rehabilitate and protect buildings within the Market, increase the opportunities for farm and food retailing in the Market, support small and marginal businesses, and provide services for low-income individuals.