Mayor Ashman on Lakeforest Mall: ‘I Hope to See Some Redevelopment’ (VIDEO)

Lakeforest Mall in Gaithersburg is under new ownership since the mall was sold to U.S. Bank during a foreclosure auction on Tuesday for $19.1 million, according to the Washington Business Journal.

The previous owner, Five Mile Capital Partners, defaulted on its loan, according to Gaithersburg City Mayor Jud Ashman.

There are no clear plans on how U.S. Bank will move forward with the mall, but in this MyMCMedia extra video, Mayor Ashman explains what he hopes to see in the future:

Ashman addresses why Gaithersburg City officials did not acquire the property:

About Mitti Hicks

Mitti Hicks is a multimedia journalist and community engagement specialist with Montgomery Community Media. She is passionate about telling stories that impact our community and may be reached at MHicks@mymcmedia.org and on Twitter @mittimegan.

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