Mayor Wilson Announces Launch of Vacant Storefront Grant

Mayor Keith Wilson is proud to announce the launch of the Vacant Storefront Grant. The grant is designed to activate vacant commercial storefronts across Portland and help reduce the financial barriers for businesses leasing vacant spaces by providing matching grant funds for tenant improvements.

"Today we're making it easier for small business owners to open a storefront anywhere in Portland," said Mayor Wilson. "Tenant buildout costs are one of the biggest expenses that new business owners face – that's why my office has worked with Prosper Portland to launch the Vacant Storefront Grant program. I'm grateful to Executive Director Wesley and the Prosper Portland team for their hard work to stand up this grant quickly, and I want to thank Councilor Ryan for his work on the Storefront Support Program, which helped highlight this need."

The Vacant Storefronts Grant will provide support for businesses that locate in vacant storefronts within the City of Portland. The program will reimburse up to 75% of eligible tenant improvement costs for:

• Grocery Stores (up to $100,000)
• Restaurants (up to $50,000)
• Retail Businesses (up to $25,000)

"This type of storefront support is vital, both for entrepreneurial Portlanders with bold ideas and anyone who wants their community to be active and vibrant," said Councilor Dan Ryan. "I'm so pleased that this resource will be available to local business owners—they truly need the support, and we all benefit when Portland's business environment is thriving. Here's to fewer "for lease" signs and more activated storefronts!"

The program is funded with $800,000 in one-time General Fund resources provided by the City of Portland through an intergovernmental agreement with Prosper Portland. 

"This program will help strengthen Portland's commercial districts, increase business activity, and create more vibrant neighborhoods," said Cornell Wesley, executive director of Prosper Portland. "Combined with our existing suite of resources for commercial tenanting, this grant will help local businesses start, stay, and grow in Portland."

Each business must have secured a lease with at least three years in the term to occupy a vacant street-level storefront within the past six months. Applications will be accepted on a rolling basis, and grants will be awarded first come, first served until funds are exhausted.

To learn more and apply, visit: prosperportland.us/Grants.

View the Mayor's launch video: Instagram.