Affordable Commercial Tenanting Program Lisa Norwood
Affordable Commercial Tenanting Program
Prosper Portland has created the Affordable Commercial Tenanting Program to address a recent dramatic increase in retail rents and decrease in vacancy rates in the city of Portland, which have resulted in the displacement of small businesses from Portland’s urban neighborhoods. The program seeks to:
reduce barriers to entry for underrepresented businesses
preserve the vitality of small businesses
provide business development opportunities that in turn offer needed goods and services to the community
advance our goal to build an equitable economy
Priority businesses are those led by owners who are diverse in terms of race, gender and other demographics typically underrepresented in the business community, and who provide needed business services to the local community. Prosper Portland will evaluate tenants based on their alignment with these priorities.
The Affordable Commercial Tenanting Program is available at two sites in Lents Town Center in SE Portland and will expand to include Alberta Commons in NE Portland, and one site in downtown Portland, offering access and assistance to qualified businesses in the form of an equitable application process, access to space, and in some cases additional incentives designed to lower the barriers to entry for emerging and small businesses, such as reduced rent, tenant improvement contributions and technical assistance.