Portland had won its first six home games of the season, but came up short in its fight back from an 85-63 deficit late in the third period.
Orlando's once huge lead dwindled to two when the Blazers' Jamal Crawford made a layup with 21 seconds remaining. Redick then boosted the lead back to four with his free throws and, after Wesley Matthews missed a 3-point try for Portland, Redick made two more foul shots for a six-point advantage.
LaMarcus Aldridge hit a 3-pointer just before the buzzer to account for the final score. Orlando won its second in a row.
Crawford had 24 points for Portland and Aldridge had 23.