The Real Property Investment Program is designed to assist new or relocating businesses, expanding businesses, and commercial property owners with the rehabilitation and redevelopment of interior and exterior spaces to visually enhance the local streetscape, and increase interest in the City of Portsmouth.
Donor Name: Portsmouth Economic Development
State: Virginia
City: Portsmouth
Type of Grant: Grant
Deadline: 10/31/2025
Size of the Grant: $10,000 to $100,000
Grant Duration: Grant Duration Not Mentioned
Details:
Eligible improvements must be permanent and can include any combination of eligible interior, exterior, signage, and security modifications or enhancements.
Funding Information
- Maximum grant award: $25,000
- The Real Property Investment Program is a matching, reimbursement program that requires the applicant to make the initial investment for the full project costs; half of the eligible costs will be paid as a reimbursement, up to the maximum grant award amount.
Eligible Applicants
- Properties within City of Portsmouth limits that are commercial, industrial, office, or mixed-use.
- Property owners, who are not the subject business owner, must improve vacant space to:
- Create a vanilla shell in order to market the property, or
- Complete tenant improvements for an under-contract new tenant entering into a lease.
- New or existing business owners who are leaseholders and applying for grant funding for tenant improvements must have documentation in the lease that the tenant is responsible for improvements and must provide a signed Property Owner Consent Form.
- Entities of local, state, or federal government, religious organizations, and/or properties used strictly for residential use are prohibited from applying.
For more information, visit Portsmouth Economic Development.
