Prosper Portland Launches Pilot Loan Program to Fund Downtown Office-to-Residential Conversions

Prosper Portland’s Board approved a new Central City Building Conversion – Embodied Carbon Pilot Loan in October 2025, targeting development-ready projects looking to convert vacant downtown office space into housing. The program is part of a broader strategy to address both Portland’s office vacancy problem and its housing shortage simultaneously, with an emphasis on reducing embodied carbon in the conversion process. Interested developers can contact Prosper Portland directly, as the program is working with a limited pool of projects given available funding — making early contact critical for those with conversion-ready properties.

Source URL: https://prosperportland.us/our-work/office-to-residential-conversion/