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WRS Breaks Ground on $1.2 Billion Lakeforest Mall Redevelopment in Gaithersburg

The move underscores a transit-first, housing-heavy remake.

Overview

  • WRS began demolition Monday at the 102-acre site, launching a multi-phase project that starts with road and storm-drain work before buildings rise.
  • Plans call for 1,600 homes, split into about 850 rentals and 750 for-sale units, with NVR building roughly 600 for-sale homes and Potomac Housing delivering 250 workforce apartments.
  • Roughly 470,000 square feet of shops and dining are planned, with early leases secured by The Home Depot, Sprouts Farmers Market and Landmark Theatres.
  • A new transit center inside the project will serve eight Ride On bus routes and the MD 355 Flash bus rapid transit, with 35 acres of parks and trails designed to make daily trips easier without a car.
  • WRS is rethinking 750,000 square feet once pitched for life-sciences space because demand has softened, and financing details for construction remain undisclosed despite a $5 million county pledge for site prep.