Portsmouth Approves Plan for Five $1 Million+ Homes Off Banfield Road
PORTSMOUTH, NH – October 24, 2025 – The Portsmouth Zoning Board recently granted site plan approval for a five-lot residential development off Banfield Road, with each home anticipated to sell for over $1 million. Chinburg Properties, a Newmarket-based developer, will construct the single-family houses and associated site amenities as part of each lot sale.
The development will feature two lots accessed via a shared driveway entrance on Peverly Hill Road, across from the YMCA, and three lots accessed through a single, shared driveway on Banfield Road. A key component of the plan is the preservation of a “wetland buffer along the Banfield Road frontage of the parcel.”
According to project documents presented by Alexx Monastiero of the Gove Group, representing Chinburg Properties, the single driveway off Banfield Road was designed to allow a large majority of existing, mature trees to remain, creating “a natural buffer between Banfield Road and the new homes.” The development will also utilize overhead power lines to further limit disturbance to the wetland buffer.
Chinburg Builders,founded by New Hampshire native Eric Chinburg in 1987,is a well-established developer in the Seacoast region,with projects in Portsmouth,Dover,and Newmarket. monastiero noted the company is currently building “a number of approved projects in the city.”
The development site is located near Route 1, the YMCA, Market Basket, and other restaurants and stores.
