Lakeforest Mall is set to close at the end of March.
In 2021, the Gaithersburg City Council unanimously approved the Lakeforest Master Plan, looking ahead to the site’s future. Montgomery County Councilmember Laurie-Anne Sayles, who was a Gaithersburg councilmember at the time, told MyMCM on Friday that the new mixed-use development will provide “incredible amenities” like green space, mixed-use housing, retail and commercial.
Lakeforest Mall opened in 1978. During a Gaithersburg Mayor and Council meeting last week, mall owners said it is now down to just a handful of tenants.
“We will be closing the mall at the end of March,” said Kevin Rogers, Executive Vice President of WRS, Inc., the commercial real estate development firm that purchased the mall. He added Macy’s will close its location at the end of March.
Rogers said WRS has maintained a “purposeful vacancy” so developers can both close the mall and demolish it at the right time.
A proposed sketch plan for redevelopment includes a new transit center, outdoor entertainment district, more than 1.2 million square feet of employment, commercial and retail space, 1,600 residential units, and green space.