Lafayette Plaza is probably one of the oldest shopping center on the seacoast. When the plaza opened around 1964, it was anchored by Woolworth, King's, a grocery store and other stores including a Photo Corral. Bonanza Steakhouse opened in 1979 in a free-standing building right on the left of the plaza. By the early 90's, King's was gone and turned into a bargain store. Woolworth closed in 1993 and the bargain store too. Bonanza closed and Margarita’s replaced it. A Stroudwater book store opened at the south end of the plaza in 1993. 

The old pylon sign of the plaza was replaced and an Auto Palace store opened in the former Woolworth. Pier1 Imports later opened at the plaza. Then, Auto Palace closed along with Stroudwater Books. Philbrick's Fresh Market opened in the former book store. Pier1 closed and was replaced by Abode Home Furnishings.  Namco Pools made a comeback to Portsmouth when it opened at Lafayette Plaza but closed shortly after that opening. Namco had previously been at Southgate Plaza.