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Three developers backing projects in Lents recently asked for, and received, $6.3 million in Portland Development Commission loans in the face of higher construction costs and a tight lending environment.

The PDC’s board on Feb. 10 approved the additional loans to encourage Palindrome Communities LLC, Williams & Dame Development and Asian Health & Services Center to move forward with a cluster of projects at Southeast 92nd Avenue and Foster Road.

The unanimous vote came as Palindrome approached the April 3 expiration of its option to purchase the New Copper Penny site at 5932 S.E. 92nd Ave. All three developers pleaded for more money to address increased construction costs and a lack of private financing. The extra money also will allow Palindrome to purchase and develop a highly visible corner parcel that is home to a Chevron gas station.

At the same time, PDC commissioners made clear that the additional loans would be the projects’ final line of credit.

鈥淭his is the most we’d be willing to do at this point,鈥� Commissioner Aneshka Dickson said.

Added Commissioner William Myers: 鈥淚f we come to an agreement on this, this’ll be the last time.鈥�

With the additional $6.3 million, the PDC’s commitment to the developments has grown to $19.2 million.

The developers are aiming to transform a keystone Lents intersection that is anchored by the New Copper Penny, a long-established bar, and the gas station.

Palindrome Communities plans to demolish the New Copper Penny and add a mixed-use building on the site, and another on land occupied by the Chevron and a parcel owned by the PDC. The bar is a neighborhood icon, but it has drawn repeated shooting incidents and police calls in recent years.

The new buildings would boast 126 rent-restricted affordable units and 19 market-rate units, along with 29,000 square feet of first-floor commercial space.

Williams & Dame, doing business as 91st and Foster Development LLC, plans to construct a four-story mixed-use building with 16 affordable units and 38 market-rate units, 9,000 square feet of ground-floor commercial space and a public courtyard.

The Asian Health and Services Center plans to add a building with 30,000 square feet of commercial space for AHSC offices, clinic and community space, and 4,600 square feet of leasable commercial space.

Local residents have long pined for renewal in the neighborhood after years of false starts. There are at least some signs the urban renewal area is coming to life.

In September, Palindrome Communities’ Chad Rennaker, who previously created PINTS Brewing Co. in Old Town, opened a German-inspired brewpub, Zoiglhaus Brewing, at 5716 S.E. 92nd Ave. The PDC contributed more than $1 million to the brewpub project.

Rennaker said the brewpub and mixed-use development are part of the same vision for Lents.

鈥淚t’s a community that’s on the rise,鈥� he said. 鈥淚t just needed a few things to kind of spark it. We wouldn’t do a brewery in a location like that unless there were going to be other opportunities for mixed-use development.鈥�

Zoiglhaus has been hailed as a much-needed space for community events and socialization in Lents.

鈥淚t’s a good asset to the community and it’s starting to build the identity of Lents as a healthy business district within Portland,鈥� said Nick Christensen, a former president of the Lents Neighborhood Association.

Christensen said residents want more businesses and more rental housing, both affordable and market rate. The projects backed by PDC address those needs, he said.

鈥淚t’s really going to help preserve the affordability of the neighborhood while also providing jobs and improving the economy,鈥� he said.

Christensen said he supports the PDC providing additional money to get the projects up and running.

鈥淚n the grand scheme of things, PDC spent more than $100 million in Lents over many years without many results 鈥� whereas these projects are going to have significant results,鈥� he said.

Lents is getting its own sports team too. The Portland Pickles will begin play June 3, competing in a wood-bat baseball league. The Pickles’ opening season follows renovations 鈥� funded in part by the PDC 鈥� to Walker Stadium at Lents Park.