Work is underway on a mixed-use development set to bring 1,600 residential units and nearly half a million square feet of retail to the site of a shuttered mall in Gaithersburg.
A conceptual rendering of the Lakeforest Mall redevelopment from 2024 filings with the city
Developer WRS began demolition Monday on the 102-acre Lakeforest Mall in preparation for its planned $1.2B project at the site.
In addition to residential and retail, the new Montgomery County mixed-use community is slated to house a public transit center, 35 acres of green space, and pedestrian and bike networks connecting it to surrounding areas.
The development was originally conceived to include 750K SF of life sciences-related space, such as offices, labs and manufacturing facilities, but a WRS spokesperson told Bisnow that the plan for that property type is being reevaluated given a “softening in the life sciences sector.”
Click here to read the rest of the article written by Emily Wishingrad at Bisnow
