The Lakeside Mall renovation proposed by Lionheart Capital in Sterling Heights.
With a planned groundbreaking in late 2025, the billion-dollar project will require the closure of Lakeside Mall on July 1. The concept comes from Out of the Box Ventures, the retail division of Miami-based real estate development and capital investment firm Lionheart Capital.
The purpose of tearing down Lakeside is to build a “dynamic mixed-use city center.” It will be replaced with around thirty acres of public space, as well as apartments, parks, a hotel, offices, retail establishments, and restaurants.
Local workers will be employed in the project, according to officials, who also state that new property tax money from the development would be used to pay the project financially. As a result, little effect on city taxes is anticipated.
November 2022 marked the start of the renovation plan, according to Out of the Box. In order to initiate the following stage, tenants have been notified and plans are in place for their departure.
“Lakeside’s vibrant Town Center will be bustling with shops, offices, coffee houses, and restaurants, creating a lively atmosphere for residents and visitors alike,” stated A large central park with eateries and outdoor seating will act as the hub for events, music, art, and community get-togethers.”
Through regular updates on various communication channels, the City of Sterling Heights will involve the public in the transformation process by sharing project updates with them.
