Lakeside Mall Redevelopment OverviewPhoto byLionheart Capital

Author’s Note

This article is based on accredited reports. Linked information within this article is attributed to the following: Lionheart Capital and The-Sun.com.

Introduction

I write extensively about the state of U.S. shopping malls. In recent months, most of my articles on the matter have detailed mall closings, sales, and/or redevelopment processes.

In that spirit has come word this week that Michigan's iconic Lakeside Mall at Sterling Heights, scheduled to permanently close July 1, will be demolished in short order save for JCPenney and Macy's, both which of will remain open.

The demolition of the 48-year-old mall is said to make way for a $1 billion project that will tentatively include a park and hotel, as well as substantive retail, office and residential spaces.

Let us explore.

U.S. Shopping Malls, 2024

According to a June 29 report from The-Sun.com, Lionheart Capital and the City of Sterling Heights will repurpose the soon to be demolished sections of the mall.

As excerpted from the report: "We are grateful to have a developer that is as engaged with our local community as Lionheart Capital / Out of the Box Ventures," said Sterling Heights Mayor Michael Taylor. "They truly understand the emotional connection our community has with Lakeside Mall, and they are taking great care to preserve that legacy while planning for this transformational Lakeside Town Center.

It should be noted, as of press time, specific redevelopment timeframes have yet to be announced for what the mayor is calling "the largest development in our city's history."

Conclusion

This is a developing story. In the event of pertinent updates to this matter, inclusive of official announcements of milestone dates, I will share them here on NewsBreak.

Thank you for reading.