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The Portland Development Commission’s board this week approved loans for three projects that promise to bring new life to the Lents neighborhood.

A total of up to $3.4 million in predevelopment loans and up to almost $13 million in development loans will go to the Asian Health and Service Center, Palindrome Communities LLC and Williams and Dame Development.

After hearing staff presentations and discussions on the proposals, the board voted unanimously to approve loans for all three. They were selected by the PDC in January from a field of applicants interested in developing PDC-owned land in the Lents Town Center Urban Renewal Area.

Jina Bjelland, the PDC’s director of real estate and lending, told the PDC board that the urban renewal area for Lents will expire in five years and that funding is needed to entice development.

鈥淣o developer would move forward without PDC funding,鈥� she said. 鈥淲e have about $3 million at risk from a $60 million budget.鈥�

Although there is some risk in the loans, she said, funding will come from other capital sources and deed restrictions will give some control to the PDC.

Board member Charles Wilhoite is OK with the risk.

鈥淚t’s a signature first step,鈥� he said, and board member Mark Edlen agreed.

鈥淚t’s really great to see these three projects move forward in Lents,鈥� he said.

A predevelopment loan of $786,800 and a development loan of $3.05 million will go to the Asian Health and Service Center to develop property at 8931 S.E. Foster Road. Early plans call for a mixed use, built-to-suit facility on PDC-owned property. The development will include community meeting space, office space, a medical clinic and two market-rate commercial spaces. The plan also includes tuck-under and surface parking.

Williams & Dame will receive up to $1,256,077 for predevelopment and $4.75 million for development on 0.63 acres at the northwest intersection of Southeast Foster Road and 92nd Avenue. The initial development idea calls for construction of a mixed-use building with market-rate and affordable housing units, ground-floor commercial space and surface parking.

Palindrome Communities’ plans for 1.07 acres of property, also at Foster Road and 92nd Avenue, call for a mixed-use building 鈥� including affordable residential units, ground-floor commercial space and surface parking. Palindrome Communities also intends to buy two more parcels nearby 鈥� commonly known as the New Copper Penny and the Chevron Station properties 鈥� to include in the project. The Chevron property is in negotiations, Bjelland said, and the New Copper Penny land is under contract.

Chad Rennaker of Palindrome Communities said the PDC board’s approval of the three projects was 鈥渁 pivotal day鈥� since he and his wife moved to Portland 30 years ago and first lived in the Lents neighborhood.

鈥淲e have seen the ups and downs of Lents 鈥� mostly downs,鈥� he said.

Trevor Rowe, vice president of construction at Williams & Dame, said his company has been in weekly meeting for months with the PDC to come up with the deal.

鈥淥ur first task was to engage with the neighborhood and listen,鈥� he said. 鈥淲e want a high-quality project.鈥�

Dr. Erik Szeto, board chairman of the Asian Health & Services Center, said his organization serves 65,000 local residents, 25 percent of whom are minorities, and will help pay for construction costs.

鈥淲e create jobs, provide meals and health education,鈥� he said. 鈥淲e will have a capital campaign and will bring $7 million to the project.鈥�