Artist’s rendering of the future Stenton Lofts apartments. The building was originally part of the Goodall Worsted Mill complex. (Courtesy photo)
By Zendelle Bouchard
Sanford’s commercial real estate market saw notable activity in the last quarter of 2025, with some downtown properties changing hands and new development continuing. In his quarterly report on Feb. 3, Keith McBride, executive director of the Sanford Regional Economic Growth Council, updated the City Council on the following projects:
Stenton Lofts: Chinburg Properties of Newmarket, NH, got approval from the Design Review Committee last month for its redevelopment of the long-vacant Stenton Trust mill on River Street into apartments. This was the latest step in a complex process involving many state and local agencies. McBride said Chinburg plans to come before the City Council to request a contract zone for the property in the near future.
Jagger Mill Apartments: Chinburg is also redeveloping this building, which they report is about halfway done. The company expects to begin renting in later summer or early fall, with the project due to be fully completed by this time next year.
New Construction: ReinCorp’s two new Central Parks Apartment buildings on School Street are currently leasing, and the third building is under construction. TPD’s new Main Street building next to Sweet Memories is completed and leasing, while the Roberts Street building is buttoned up and they will be looking for occupancy this summer.
Sanford Trust Building: The heart of Sanford’s downtown got a new owner last year, and McBride reported that they are actively leasing spaces in the historic building at the corner of Main and Washington streets and working on renovations one floor at a time.
13-17 Washington St: Just across from the Sanford Trust building, these two large properties sold to a new out-of-state owner in November, real estate investment firm Select Capital of Delaware. They also bought the three-family home at 7 Emery St. as part of the deal. Read an article about the purchase on the MaineBiz website.
Former Aubuchon building: The property at the corner of Main Street and Spartan Drive also changed hands recently, and McBride said the new owner, who is seeking commercial tenants, “brings a lot of energy and resources to the project.”
McBride’s presentation also included a report on macroeconomic trends across the country. He said a weak labor market is illustrated by the slowest growth in non-farm payrolls since the pandemic, in part due to changes in immigration. Finding a job is especially difficult for new college graduates, with contributing factors including the rise of AI and economic uncertainty due to tariffs and the expectation of higher inflation. On a positive note, he added that the use of AI in the tech sector has contributed to an increase in worker productivity and bullish investment in those stocks.
Despite the instability in the US economy, development and investment in Sanford continues at a rapid pace, as shown by the activity detailed above. McBride said investors recognize there is “exceptional growth” in Sanford and want to be part of it. He added that a big focus for the Growth Council in 2026 will be marketing, both externally to attract new businesses, and internally to create buzz about the city and all it has to offer.
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