Dozens of vendors at the Symons Valley Ranch Farmers' Market got some good news Friday, following a devastating fire that swept through the northwest Calgary market late last month.

A market spokesperson told CBC News that the market will be rebuilt on the existing site.

A local merchant development company, Capexco, has purchased the Symons Valley Ranch and promised to build a new market facility as part of a "whole village concept," said Ken Aylesworth.

"So out of all of this comes some pretty incredible news," Aylesworth said.

The Jan. 26 fire left more than 30 vendors without a market, and many without a source of income.

Aylesworth said a fundraising campaign, including the sale of T-shirts at the Market on Macleod, really brought out the generosity of some Calgarians.

Ken Aylesworth, speaking at the Market on Macleod Friday, says there's been a commitment to rebuild the Symons Valley Ranch Farmers' Market which was devastated by fire late last month. (Colleen Underwood/CBC)

"We have had a number of donations that have been exceedingly kind and lots of in-kind donations and support," he explained.

Aylesworth said the funds came just in time.

"We're already 15 days since the fire, so cash flow issues are a concern for individuals."

New market expected to take 2 years

Ron Hamilton owns Sunworks Farms and was one of the original vendors at Symons Valley.

"Farmers' markets are our bread and butter," Hamilton said.

Sunworks Farms owner Ron Hamilton says farmers' markets are his bread and butter. He's thrilled the Symons Valley Ranch Farmers' Market will be rebuilt. (Colleen Underwood/CBC)

"Another farmers' market in the city, especially in the north end which has been underserviced with farmers markets, is great. We'd feel it'll be fantastic."

They hope to have a temporary market up and running on site by spring, but the full replacement construction will take about two years.