Once known for its luxury retail stores, Lakeside Mall has experienced an exodus of tenants and today occupancy is down to about 20%.

The mall is slated to close July 1, with groundbreaking for a $1 billion development expected for late 2025, officials said today.

The Florida-based developer who purchased the property in 2019, Lionheart Capital, has plans to turn the mall into a mixed-use retail, office, and residential space.

A closing date was announced this week for the once-bustling Lakeside Mall in Macomb County that has been slated for redevelopment for years.

Lakeside Mall in Sterling Heights is closing on July 1, 2024, for a $1 billion redevelopment into Lakeside Town Center.

Lakeside Mall opened in the 1970s, and for years was a destination for department store shopping, snacking, and even playing (there was once a water slide inside). The mall underwent some interior and exterior renovations over the years, but always maintained its Midwestern charm and array of fountains.

The Florida-based developer who purchased the property in 2019, Lionheart Capital, has plans to turn the mall into a mixed-use retail, office, and residential space.

I'll tell you what, this mall in Sterling Heights, Lakeside Mall has been around since the mid 1970s, over 1,000,000 square foot big, it's one of the largest malls in the state of Michigan in its heyday.