Real estate developer WRS has broken ground on the Lakeforest Mall redevelopment, a $1.2bn project in Gaithersburg, Maryland.
The ceremony, held on 13 April 2026, was attended by city officials, community leaders and representatives from WRS.
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It marks the beginning of a multi-phase construction plan to replace 1.1 million sq ft of ageing retail space and expansive parking lots with a sustainable, community-focused destination.
Plans for the former 102-acre site include 1,600 residential units, with homebuilder NVR set to construct around 600 “for-sale” homes across various housing types.
WRS, along with an upcoming partner, will provide 600 rental apartments, while Potomac Housing Development delivers 250 workforce rental units.
The redeveloped site will also feature retail and dining space, covering 470,000ft², with The Home Depot, Sprouts Farmers Market and Landmark Theatres named as initial tenants.
In addition, there will be an entertainment block with dedicated areas for restaurants, small shops, and community events such as farmer’s markets and outdoor movie nights.
An upgraded Lakeforest Transit Center, developed in cooperation with Montgomery County, will serve as a main hub for eight Ride On bus routes and the upcoming MD 355 Flash Bus Rapid Transit (BRT) system.
The project design includes a walkable street grid and more than 35 acres of green space, including a boardwalk around revitalised ponds, gathering plazas, and enhanced pedestrian and cycling links with neighbouring areas.
WRS principal Kevin Rogers said: “This is more than just a construction project; it is the rebirth of a community anchor. We aren’t just building buildings; we are creating a destination where people can live, work and thrive without being dependent on their cars.
“We are proud to deliver a project that honours the legacy of Lakeforest while looking firmly toward the future of Gaithersburg.”
At full development, the project is expected to generate $2.7m in annual recurring revenue for Gaithersburg and produce about $1.7bn in yearly economic impact.
Phase 1 infrastructure work, including demolition, new roadways and storm drainage, has commenced. The first residential and retail buildings will start vertical construction following this initial phase.
The Lakeforest Mall, once a retail centre for the region, closed in 2023. The redevelopment intends to repurpose the long-vacant land into a multi-use community.
