Overview
This project will restore 3,000 square feet of retail space along SW Harvey Milk Street. The space is unique, co-located inside a federally-subsidized, extremely low-income housing building - the Fairfield Apartment. The 1911 building has, for many years, contained 82 single room occupancy (SRO) units. The Portland Housing Bureau has operated the building since 2010. The Housing Bureau has partnered with local housing authority Home Forward to manage a major renovation project, and Portland City Council has asked Prosper Portland to create a development strategy for the ground floor retail space. This project funds redevelopment and tenanting of the retail space.
Who does this program serve?
Prosper Portland will prioritize local small businesses, especially those owned by people of color, as tenants for the new retail space that will be offered at an affordable rate. The project will also serve the neighborhood by providing access to goods and services locally.
Timeline
April 2022: Program funded
December 31 2024: All funds must be spent
How is this program funded?
The City of Portland has committed $1.9 million to this program and up to $1.1 Million in Tax Increment Financing from Prosper Portland. This money comes from the Federal government's 2021 American Rescue Plan local recovery funds. Portland will receive a total of $208 million from the American Rescue Plan and will spend it over the next few years. The City of Portland is spending money in three priority categories:
- Houselessness Response and Household Stabilization
- Small Business and Commercial District Stabilization
- Community Health and Safety
Read more about these investments in this article: American Rescue Plan: Investing in Portland
Who manages this program?
The Fairfield Retail Revitalization project is managed by Portland's economic and urban development agency, Prosper Portland. Prosper Portland focuses on building an equitable economy by carrying out a comprehensive range of economic development programs that support small business, improve access to workforce training, and create jobs for Portland residents.
Results
The City is committed to sharing how American Rescue Act funding supports Portland people, households, businesses and community organizations. Check back for updates on the Fairfield Retail Revitalization Program.