Torrington Properties’ long-planned Seacoast Landing redevelopment in Newington, NH has cleared a key local milestone, with residents voting to approve the town’s first tax increment financing district. The TIF district will support the planned transformation of the former Mall at Fox Run and the adjacent Newington Park Shopping Center, two legacy retail assets that are slated for demolition as part of the project.
According to reporting cited from Business NH Magazine, the TIF district will provide $9 million in public infrastructure funding, to be repaid over time through future tax revenues generated within the district. This framework is intended to help pay for roads, utilities and other public improvements needed to support the redevelopment while aligning repayment with the project’s future tax base. The approval formally links municipal investment in infrastructure to the anticipated private investment at Seacoast Landing.
Torrington Properties has been assembling and repositioning the site for several years. Between June 2021 and December 2024, the company spent a combined $66.1 million to acquire the former Mall at Fox Run, including the attached Sears, Macy’s and JCPenney spaces, as well as the 15-acre Newington Park Shopping Center. The latter previously housed retailers such as Savers and JoAnn Fabrics, among other tenants, underscoring the property’s history as a regional shopping destination.
The enclosed mall closed in January, further setting the stage for a ground-up reimagining of the site under the Seacoast Landing banner. Torrington founder and CEO Jay Bisognano told the Portsmouth Herald that Costco Wholesale has committed to operate at the project, along with another unnamed national retailer. Those commitments indicate that the redevelopment is expected to feature a new big-box and destination retail component anchored by national brands.
With the TIF district in place, Torrington now has a local fiscal tool to advance infrastructure work tied to the redevelopment, while the town gains a mechanism to capture and reinvest incremental tax revenue from the site’s future value. The combination of site control, public financing support and anchor tenant commitments positions Seacoast Landing as a significant retail repositioning effort in Newington’s commercial corridor.
