The Future of Lakeforest Mall, Revisited
Yesterday, on August 17, the Gaithersburg Mayor and City Council passed a resolution to declare a one-year moratorium on development at Lakeforest Mall.
The decision comes from the expiration of development agreements with WRS Inc., the new owner of the mall. It was the second extension of the City’s initial plans with WRS.
WRS has not acquired any of the mall’s four anchor properties since their initial purchase of other parts of the mall last year. The four anchor properties are still owned by the parent companies of Sears, Lord & Taylor, J.C. Penney, and Macy’s.
During the moratorium, the City plans to conduct studies and public engagement in order to assess the best path for redevelopment moving forward. The moratorium is set to expire on August 18, 2021.
For more information, check out the resolution here: gburg.md/31VNk32
By Nyrene Monforte