Lakeforest Mall closed on March 31, 2023, after nearly 45 years in Gaithersburg.
Originally opened on September 12, 1978, the mall featured anchor stores JCPenney, Sears, Woodward & Lothrop, and Hecht’s. It was one of the first malls in the U.S. to include an indoor ice-skating rink, located in the “H section,” and was the largest indoor shopping mall in Montgomery County at the time. The rink was later replaced by a movie theater in 1984, which eventually became a food court. The mall was built on the former Lake Walker park and opened with approximately 30 to 50 stores, many of which relocated from the nearby indoor Village Mall, now Montgomery Village Center.
In September 2024, the Gaithersburg Mayor and City Council unanimously approved a redevelopment plan for the site. The approved project includes 1,600 residential units, 750,000 square feet of employment space, 250,000 square feet of large-format retail, and 220,000 square feet of commercial space.
Schematic development plans (subject to change) outline various retail and dining options. Block B is set to feature four large standalone restaurants (6,000-10,000 square feet), a 2,750-square-foot restaurant, and boutique shops offering ice cream, yogurt, smoothies, baked goods, jewelry, and art. “High street retail” will include stores specializing in bath products, cosmetics, apparel, shoes, and fitness wear.
Block C is planned to house a 30,000-square-foot fitness center, a credit union, a pizza restaurant, a hair salon, and an apparel store. A large home improvement retailer will occupy another section, along with a dry cleaner, shipping service, massage/chiropractic office, and a dental clinic. Two additional large retailers (60,000 and 40,000 square feet) are also planned.
Demolition of the mall is scheduled for 2025, though an exact date has not been announced.