Shopping
Closing time: Lakeside Mall to permanently shut down in 60 days
After 47 years as a shopping and social attraction, Lakeside Mall’s days are finally numbered.
The Sterling Heights shopping center’s owner and city officials on Wednesday announced it will permanently close on July 1.
Officials plan to launch a massive $1 billion redevelopment that they say will transform the area on Hall Road and Schoenherr Road into a new neighborhood consisting of homes, parks, shops, restaurants, and other community venues in the coming years.
“Lakeside Mall’s closure marks the beginning of an exciting transformation,” said Allison Greenfield, chief development officer of Lionheart Capital, a Miami-based real estate development which owns the property with capital investment firm’s retail subsidiary Out of the Box Ventures.
“We are committed to collaborating with the City of Sterling Heights to create a vibrant urban center that celebrates the area’s unique character and history,” Greenfield said.
Groundbreaking for the new development is expected in late 2025.
According to Lionheart, the decision to close Lakeside Mall comes with after several years of study, planning and consideration.
The mall will be replaced with Lakeside Town Center, a bustling with shops, offices, coffee houses, and restaurants, creating a lively atmosphere. A central park, featuring restaurants and outdoor seating, will serve as a focal point for community gatherings, music, art, and events. A two-story community center that will anchor the park will provide recreational amenities such as pools, fitness facilities, and lending libraries.
Sterling Heights Mayor Michael Taylor said the city “eagerly anticipates” implementation of the development plan.
“As this transformative project unfolds, making sure our residents are consistently informed and actively engaged in the process will be a top priority,” the mayor said.
According to a news release, a network of “great streets” will crisscross the area, each with its own character. Surrounding the town center will be the Lyrical Loop, a one-and-a-half-mile encircling greenbelt designed to promote active lifestyles and wellness for residents.
Construction of a two-and half-mile bike/hike trail will begin this year connecting the Lakeside Town Center development to the Iron Belle Trail, Freedom Trail and Dodge Park Trail. This network of pathways converging in Sterling Heights connects Belle Isle, Lake St. Clair, and Iron Wood to this transformative development.
Tenants have been informed of the closure, officials said, and plans for vacating are underway to facilitate the next phase of the project.
The Macomb Daily reported that Sterling Heights’ city council last month voted to accept a $3 million grant from the Michigan Economic Development Corp. to help with acquiring properties around the derelict mall in support of the redevelopment.
The properties the former Sears and Lord & Taylor department stores. Sterling Heights officials have described the owners of those shuttered stores as “holdouts” who have yet to agree to sell.
According to Sterling Heights officials, JC Penney and Macy’s owners have reached agreements to sell, but the owners of the former Lord & Taylor and Sears spaces have not. The holdouts are blocking the project from moving forward, officials said.
In 2022, the City Council approved a memorandum of understanding with Out of the Box Ventures, the private owners of the mall, to redevelop the 110-acre site into a revived area of dining, retail, residences, parks, office space and a hotel.
The mall owners plan to demolish much of the existing structure, and create a Town Center, consisting of new offices, apartments, retail space, a 120-room hotel with attached parking deck, restaurants, recreational amenities, and more along M-59, which is known locally at the Golden Corridor.
The mall will be supported by the developer and a variety of tax incentive plans that will pay for the infrastructure to create a Town Center. Officials say the entire process will probably take 10-15 years.
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