It's the end of an era for Lakeside Mall in Sterling Heights, as the 47-year-old shopping center is slated to permanently shut its doors on July 1, 2024. The suburban Detroit mall, a longstanding hub for Macomb County residents, will undergo a massive $1 billion redevelopment, transforming it into a new urban neighborhood replete with homes, parks, offices, and other public spaces. According to Macomb Daily, plans have been set in motion to develop the Lakeside Town Center, a mixed-use community dreamed up by Miami-based real estate firm Lionheart Capital and its retail subsidiary, Out of the Box Ventures.

With the official closure date announced, officials are accelerating efforts to vacate the mall's tenants to clear the way for its ambitious redevelopment. The downturn of indoor shopping venues, exacerbated by the COVID pandemic, had left the structure a shadow of its former self, with many storefronts already deserted before the closure announcement. Despite some hurdles, including holdouts from department stores Lord & Taylor and Sears, the Sterling Heights City Council intervened this year with a $3 million grant to facilitate property acquisitions and keep the redevelopment project on track.

Officials are touting the Redevelopment plan as a win-win, promising it will be financed through new property tax revenue generated by the development with minimal impact on city taxes. "Lakeside Mall's closure marks the beginning of an exciting transformation," Allison Greenfield, chief development officer of Lionheart Capital, told FOX 2 Detroit. The physical replacement of the mall will include a town center and network of paths known as the "Lyrical Loop," designed to encourage active lifestyles and connect to the larger network of trails in the region.

The project has captured the attention of local authorities, with Macomb County Executive Mark Hackel emphasizing their commitment to igniting transformational development and job creation through this venture. Plans for the new Lakeside Town Center outline a plethora of amenities, aimed at establishing a bustling hub for social and economic activity. According to ClickOnDetroit, residents of Sterling Heights can look forward to a central park complete with restaurants and outdoor seating intended to be the centerpiece for community events, music, and art gatherings.

Despite the decades-late revamp, the city has engaged in regular communication with residents, ensuring they are kept in the loop throughout the transformation process. As the landscape of commerce shifts away from traditional malls to more experiential spaces, the redevelopment of Lakeside Mall marks a significant step towards redefining community living spaces. With groundbreaking projected for late 2025 and a ten-year completion timeline, Lakeside Town Center is positioned to become a new beacon of suburban revitalization.