Prosper Portland has announced that its Affordable Commercial Tenanting Program is now available at Alberta Commons, the Natural Grocers-anchored project at the corner of NE Martin Luther King Boulevard and NE Alberta Street.
The affordable tenanting program is designed 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 assist underrepresented businesses, preserve the vitality of small businesses, provide business development opportunities that in turn offer needed goods and services to the community, and advance the agency’s goal to build an equitable economy.
Alberta Commons presents a unique opportunity for small businesses, including those owned by people of color, to gain a foothold in the retail mix of the area, provide needed goods and services to the neighborhood and create lasting, beneficial relationships with the Northeast Portland community. Alberta Commons is currently under construction with completion expected in November 2017. Available space in the affordable tenanting program totals 5,125 square feet and can be divided into smaller units.
The program is also available at two sites in Lents Town Center in southeast Portland and will expand to include a site in downtown Portland as well.
The program offers qualified businesses 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.
Prosper Portland is committed to supporting businesses led by owners from underrepresented populations within the business community, including women, communities of color, and those from low-income neighborhoods. A program goal is to direct support to local businesses (based in the Portland region) and businesses that align with the goals of the North/Northeast Community Development Initiative Action Plan, e.g., led by African-Americans and people of color.
Applications to the Alberta Commons program open Monday, September 11, 2017. Prosper Portland staff will begin reviews of applications on Friday, October 13, 2017, followed by a rolling, first-come first-serve review process until all spaces are filled. For more information visit the program page or contact program manager Alison Wicks, 503-823-3949 or email@example.com. Prospective tenants may also reach out to the project broker, Jessie Burke, Workspace, 503-862-3416 or firstname.lastname@example.org for more information.