The Oregon City Commission has approved a renovation that will expand usable space by 60 percent inside a 119-year-old building at 705 Main St. in downtown Oregon City.
The project is funded in part through the city's Adaptive Reuse Building Rehabilitation Program, which provides forgivable loans of up to $125,000 to help property owners rehabilitate older commercial buildings in the Urban Renewal District. The building is owned by Donna London, according to a city announcement published Monday, Nov. 2.
The structure was originally built in 1907.
Plans call for facade improvements and an increase in usable area without changing the building's overall scale. To qualify for the forgivable loan, a property owner must invest at least $300,000 in a building that is at least 40 years old and obtain approval from both a program loan committee and the City Commission.
The developer then signs a development agreement with the city. If the rehabilitation is completed as planned, the loan is forgiven. If the terms are not met, the city seeks repayment.
Community Development Director Kelly Hart said the program "contributes to local economic vibrancy by activating empty or underutilized spaces, while encouraging pedestrian activity and improving the safety and attractiveness of older commercial buildings."
The Adaptive Reuse program is one of several downtown support tools Oregon City has deployed alongside expanded parking time limits and enterprise zone expansion, according to the Oregon City Business Alliance.
Other property owners have applied, and the program is fully subscribed through the end of the current biennium on June 30, 2027. Business owners interested in the program can contact Oregon City's Economic Development department.
