Lents Town Center Affordable Commercial Tenanting ProgramAnne Mangan2023-07-07T13:59:40-07:00
Affordable Commercial Tenanting Program
Lents Town Center
Contact: JOEL DEVALCOURT, PROJECT MANAGER, EMAIL, 503-823-3293 OR 831-421-2739
Prosper Portland and the Portland Housing Bureau have invested $54 million in the heart of the Lents Town Center to deliver on the Lents Action Plan goals for rebuilding the historic Lents Town Center commercial district. The result is four development projects – the Asian Health & Service Center, Lents Commons, Oliver Station, and Woody Guthrie Place – offering a mix of commercial, office and housing: 263 new housing units, 38,000 square feet of ground floor commercial space, and 30,000 square feet of office, clinic and event space.
1. Lents Commons, 9101 SE Foster
Total Retail Space: 7,500 SF, 3,725 SF contiguous SF (divisible to 1,000 SF)
2. Oliver Station at SE 92nd and SE Woodstock
Total Retail Space: up to 16,000 SF
Lents Commons is a mixed-use development owned by Prosper Portland. The building is located on the northwest corner of Foster and 92nd. The building offers 7,500 square feet of ground floor commercial space along Foster Road, half of which has been reserved for the Affordable Commercial Tenanting Program.
Oliver Station (West) includes 8,000 square feet of ground floor retail along both Foster Road and Woodstock Avenue. Working with our partners at Palindrome Communities, 4,000 square feet of this space has been reserved for Prosper Portland’s Affordable Commercial Tenanting Program. Spaces in Oliver Station will be at a minimum of 1,000 square feet for commercial uses and a minimum of 1,500 square feet for a restaurant use. Initial commercial rents in Oliver Station will be 10% below market rents for new class A commercial space. Tenants may also qualify for a contribution toward tenant improvement build-out in the form of a grant from Prosper Portland. Palindrome Communities and its broker will be engaged in the selection of tenants and will be the primary point of contact once the tenant has been selected.