Montgomery Community Media

The Gaithersburg City Council approved a one-year maximum suspension of development on Lakeforest Mall property in order for the city to reassess redevelopment priorities.  Last week, city staff recommended that Gaithersburg approve a new map designation for the mall property and a one-year moratorium on development to avoid any issues with receiving applications during the […]

After being granted two extensions by the Gaithersburg Mayor and City Council, the real estate investment firm that owns Lakeforest Mall has not been able to buy any of the mall’s four anchor stores.   Lakeforest Mall is separated into eight parcels and has five landowners. The anchor stores J.C. Penney, Lord & Taylor, Macy’s and […]

The new owner of the Lakeforest mall property asked Gaithersburg officials not to impose an 18-month moratorium on development at the mall for fear it will “stifle our ability to finance” its plans. WRS Inc. of Mount Pleasant, South Carolina, wrote the city that it wants housing, a theater, restaurants and a grocery on the […]

Gaithersburg Mayor Jud Ashman commented on the news that the “core of Lakeforest [Mall] was sold” has been sold to WRS Inc., a South Carolina retail shopping center developer. During an interview with MyMCMedia on Wednesday, Ashman said that Gaithersburg city officials were left in the dark about the recent sale to WRS Inc. Ashman […]

Lakeforest Mall in Gaithersburg has been sold to WRS Inc., a South Carolina retail shopping center developer, a Gaithersburg official said Tuesday morning. Assistant City Manager Tom Lonergan said WRS informed the city of the transfer of ownership. The troubled mall has faced high vacancy rates, low rents and disinvestments. In June 2018, it became […]