This story was originally produced by the Portsmouth Herald. NHPR is republishing it in partnership with the Granite State News Collaborative.
The town’s first tax increment financing district was approved by voters in a special meeting May 30, paving the way for Torrington Properties’ Seacoast Landing redevelopment project to move forward.
The TIF district, which will fund $9 million in public infrastructure upgrades in exchange for future tax revenue, sets the stage for the demolition of the shuttered 43-year-old Mall at Fox Run and Newington Park Shopping Center.
Related: Costco has plans for a second NH location at the former Mall at Fox Run in Newington
Torrington has been moving toward the Seacoast Landing project for several years. Between June 2021 and December 2024, Torrington spent a combined $66.1 million to acquire the Mall at Fox Run (including the attached Sears, Macy’s and JCPenney spaces) and the 15-acre Newington Park Shopping Center, which formerly housed Savers, JoAnn Fabrics and other stores.
Jay Bisognano, Torrington’s 41-year-old founder and chief executive officer, stated Costco Wholesale and another national retailer have committed to operating at Seacoast Landing pending the town vote. The two companies would be placed closest to the Spaulding Turnpike and would account for nearly half of the site’s proposed square footage.
Read more of this story at Seacoast Online.
