WRS Inc. Launches Ambitious $1.2 Billion Lakeforest Mall Redevelopment in Gaithersburg
A New Era for Gaithersburg: Transforming Lakeforest Mall
Today marks a significant milestone for the city of Gaithersburg, Maryland, as WRS Inc. officially launched the groundbreaking of the Lakeforest Mall redevelopment project. This ambitious investment of $1.2 billion is set to transform the formerly closed 102-acre mall site into a dynamic mixed-use environment designed for modern living and community engagement.
The Vision Unveiled
Since the closure of Lakeforest Mall in 2023, the site has been a focal point for the residents of Gaithersburg, located conveniently within the Washington D.C. Metropolitan Statistical Area (MSA). The redevelopment project comes as a response to the community's need for revitalization and is driven by innovative architectural planning aimed at promoting higher quality of life. This first phase of construction will replace the outdated retail and extensive parking lots that previously dominated the landscape with a vibrant new center that encourages foot traffic and local engagement.
Community-Centric Features
The redevelopment will introduce approximately 1,600 residential units, catering to a diverse demographic. This includes about 850 rental apartments and 750 homes for sale, comprising stacked duplexes, townhomes, and condominiums. NVR, a prominent national homebuilder, is set to lead the construction of around 600
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