Chef bets his biggest on Portland

Brian Malarkey, a Top Chef finalist, bought a building with his brother to open The Malarkey, a 10,000-square-foot wood-fired steak and seafood restaurant in Portland's Pearl District. It's his 27th restaurant and his first in his hometown.

“At the end of July, I made the biggest bet of my career. I bet on Portland.”

Opening night packed the house

The Malarkey served over 450 guests on opening night and turned people away both evenings. The restaurant is on track to top $10 million in sales in its first year, an unusually strong start.

“I've opened restaurants all over the country, and I have never opened one this busy from day one.”

Portland's reputation didn't match reality

When Malarkey first looked at Portland, the city had empty streets and vacant storefronts, but he saw potential. He believed the gap between Portland's reputation and its actual recovery was the opportunity.

“the bones of a great city were all there but the streets were empty. Tumbleweeds. Vacant store fronts.”

The numbers showed recovery underway

Crime has dropped significantly and continues to fall. Residents' positive impression of downtown surged 19 points in two years, and high-rise occupancy is up with lights on at night.

“Crime has dropped significantly in recent years and continues to fall.”

Other major investors are betting too

Chef Michael Mina is opening his only Pacific Northwest location at Portland's Heathman Hotel. Real estate investor Jeff Swickard bought three downtown towers in all-cash deals, saying the investment reaffirms belief in Portland's future.

“This investment…it's about reaffirming our belief in Portland and what this city can become again.”

Sports teams signal city confidence

The WNBA's Portland Fire drew the largest debut crowd in league history. Before playing a game, the team was valued at $380 million, triple what it cost in 2024. The Trail Blazers sold for $4 billion with $600 million in public funding approved for arena renovation.

Portland has heart and creativity

Malarkey says Portland has grit, pride, creativity and weirdness. People want great restaurants and vibrant neighborhoods, and they want to support those willing to take a chance on their city.

“Portland has heart. It has creativity, weirdness, grit and an enormous amount of pride.”

Come see Portland for yourself

Malarkey invites skeptics to walk the Pearl District and downtown, meet residents and investors, and experience the energy at The Malarkey on a Friday or Saturday night. Just make a reservation first.

“So if you've been told Portland is a place where business can't be done, come see it for yourself.”