Memorable is one of the numerous qualities in the realms of public spaces and consists of 4 stages of formation, recording, evocation, and transition. The role of public spaces and territories is more important in the first two stages. Bazaars are places in which people experience social interactions, feel the space, and perceive the environment. Formation and records of collective memories are the consequences of such activities and behaviors. It seems that "Bazaar Mohammad Ali Khan", known as "Bazaar Khan" in city of Yazd, which is considered one the scenic and historic spots of this city, has loosely contributed in the formation of collective memories in recent years. A revision of the collective memories associated to Bazaar Khan is needed in a new context ,  to find a new way to resist the changes in in the contemporary culture. Therefore, this research is carried out to establish an appropriate context based on the first two stages, i.e. formation capability and recording of collective memory, in this bazaar. The research questions include: What are the stages of memory formation and recording in the public opinion in the bazaar space as a place for the creation of collective memory? What are the effective factors at the formation and memory recording stages in bazaars and how can the context of memory formation and recording be provided in "Bazaar Khan"? We used a descriptive-analytical survey, and document and field studies were applied for the data collection. The research identifies that: Collective memory contains social, spatial, temporal, and feeling dimensions. Components are identified for dimensions and indices are detected for components. Also, different stages of collective memory formation and recording are identified, indicating that these stages are overlapping and the start of one stage is not necessarily the end of the former one. Additionally, it is determined that "Bazaar Khan" still has these two capabilities; therefore, the redesign of its components is proposed in order to strengthen this capability and preserve some strategies for its maintenance.