GAITHERSBURG, Md (WDVM)– Several months ago Lakeforest mall was sold to a South Carolina developer.
Monday night the Gaithersburg Mayor and City council held a meeting to finalize an agreement for the mall. Recently Lakeforest mall has been facing large economic instability. It will now allow the Lakeforest development corporation to re-build the land into a mixed-use property which will include new residential, business, and retail buildings.
“This development agreement really just lays out a process in which the parties will work together to include ways in which the community will engage with the developer it doesn’t lay out details of what a mixed-use project will include but it lays out a process by which we could work together to put together a plan for the site,” said Assistant City manager, Tom Lonergan.
The next town meeting is set for December 16th at 7:30 P.M.