Lakeside Mall officially closes its doors with plans for redevelopment
The $1 billion redevelopment plan for the mall site includes reimagined mixed-use retail space, residences, parks, a hotel, office spaces, restaurants and more.
An aerial view of Lakeside Mall and the city of Sterling Heights.
Lakeside Mall in Sterling Heights officially closed its doors on Monday after nearly 50 years serving the public.
Throughout its history, Lakeside Mall has served as a hub for shopping, dining and community gatherings, providing residents with a wide array of stores and amenities for decades. After losing its anchor stores — Sears and Lord & Taylor — in 2018 and 2019, respectively — traffic declined significantly at the 110-acre site.
Visitor’s last day to shop was on June 30.
According to developers, the $1 billion redevelopment plan for the new Lakeside Town Center site includes reimagined mixed-use retail space, residences, parks, a hotel, office spaces, restaurants and more. Also, approximately 30 acres will be dedicated to new public spaces that will incorporate repurposed sculptures by artists Bruce Beasley, Buky Schwart and Fletcher Benton, that were recovered from Lakeside Mall.
Plans for a public sale of interior fixtures, furniture and equipment have also been announced by the city and Out of the Box Ventures — a subsidiary of Lionheart Capital— with proceeds benefitting a local charitable organization and the city of Sterling Heights. The specific date for the sale will be confirmed later this year.
“We have been deeply moved by how much Lakeside Mall has meant to the Sterling Heights community for nearly 50 years,” said Allison Greenfield, principal of Leviathan Development and chief development officer of Lionheart Capital, in a news release. “This inspired us to create plans for repurposing the existing public art within the reimagined Lakeside. One of Lionheart’s main pillars is to reduce waste and facilitate reuse of serviceable materials and items, when possible, in the redevelopment process.”
To build upon its partnership with Sterling Heights, Out of the Box Ventures has announced its sponsorship of three upcoming community events.
At Sterlingfest, members of the community can participate in “Name our Bike Path” and can submit name suggestions for the new 2.5-mile bike trail. They will also be sponsoring the Dodge Park Food Truck Rally and the State of the City Breakfast.
Sterling Heights Mayor Michael Taylor spoke highly of the partnership between the city and Lionheart Capital and Out of the Box Venture.
“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,” said Taylor in a statement. “Whether it’s in the form of community event support, public engagement on aspects of the development or public art preservation, they have been an exceptional partner in what will be the largest development in our city’s history.”
The project is designed to be financially self-sustaining, according to the city, funded by new property tax revenue generated by the development.
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