The Charleston, South Carolina-based real estate development firm WRS Inc. has broken ground on the Lakeforest Redevelopment, a mixed-use project in the Washington, DC suburb of Gaithersburg, Maryland.
The $1.2 billion project is designed to reanimate the former 102-acre Lakeforest Mall site that closed in 2023. Lakeforest Redevelopment will encompass 1,600 residential units, with approximately 850 rental units and 750 for-sale units, including 250 workforce housing rental apartments.
The project will also feature over 470,000 square feet of new retail and commercial space, with initial major tenants including The Home Depot, Sprouts Farmers Market, and Landmark Theatres. The plan also features an entertainment block to include stand-alone restaurants, small shop retail, and community space that may be utilized for a variety of uses including farmer’s markets, food truck events, outdoor movie nights, yoga in the park, and other community-based events.
A relocated and upgraded Lakeforest Transit Center, developed in partnership with Montgomery County, which will support eight Ride On routes and serve as the primary hub for the upcoming MD 355 Flash Bus Rapid Transit (BRT) system. The project will also feature a master-planned grid of walkable streets and extensive public amenities, with over 35 acres of green space, including a scenic boardwalk around the site’s rejuvenated ponds, public gathering plazas, and improved pedestrian and bike networks.
Construction on Phase 1 infrastructure, including demolition, road networks and storm drain systems, is currently underway, with vertical construction of the first residential and retail blocks expected to follow thereafter.
“This is more than just a construction project; it is the rebirth of a community anchor,” said Kevin Rogers, principal of WRS Inc. “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 honors the legacy of Lakeforest while looking firmly toward the future of Gaithersburg.”
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