Lakeside Mall announces July 1 closure

STERLING HEIGHTS — You have less than three months left to make your final purchases at Lakeside Mall, according to a joint press release announcement from Lakeside Mall’s ownership and Sterling Heights.

On May 1, Miami-based investment firm Lionheart Capital and its subsidiary, Out of the Box Ventures, said they plan to shut down the mall July 1.

According to officials, the closure is part of a larger plan that will transform the mall property’s estimated 110 acres into a mixed-use Lakeside Town Center complete with residential neighborhoods, retail, office space, green spaces, a two-story community center, and other attractions and amenities.

The announcement projects that the revitalization project will “positively impact the region by $1 billion.” It added that the development “is designed to be financially self-sustaining” with “minimal impact on city taxes.”

“Lakeside Mall’s closure marks the beginning of an exciting transformation,” Allison Greenfield, chief development officer at Lionheart Capital, said in a statement.

“We are committed to collaborating with the City of Sterling Heights to create a vibrant urban center that celebrates the area’s unique character and history.” 

The city initially approved a memorandum of understanding with Lakeside’s ownership in November 2022 that outlined the project’s scope and plans moving forward. But just weeks ago, city officials said the redevelopment process was around a year behind schedule.

The Sterling Heights City Council then approved a transfer of a $3 million grant it had received to Lakeside’s ownership to help it overcome a hurdle: acquiring the vacant Sears and Lord & Taylor properties.

Sterling Heights Mayor Michael Taylor told the Sentry that, as of May 1, the acquisition of those two properties still hasn’t been finalized yet. But he added that he expects it to be resolved quickly.

Taylor also said the mall’s announcement about the July 1 closing date didn’t surprise him.

“We knew this day was coming for a long time,” he said. “We didn’t know exactly when it would happen, but it isn’t surprising that Lionheart would want to get the mall closed to prepare for the redevelopment.”

Taylor said the city looks forward to the mall’s redevelopment since it aligns with the city’s visioning goals for the future. The city will work to keep residents informed and engaged throughout the redevelopment process, he said.

The press release announcement said the mall’s tenants have learned about the scheduled closure, “and plans for vacating are underway to facilitate the next phase of the project.”

Candace Dallo, the manager of Mr. Sam Tailor in Lakeside Mall, told the Sentry she always knew the mall was going to close, but she still wished that they would’ve remodeled and kept it.

“I’m very sad it was closing,” she said. “I’m excited to see what’s to come, but it’s depressing that there are no more malls left, and this was a great mall.”

Dallo said her business has already prepared and has made plans to move to Shelby Township.

“We’re moving June 1,” she said. “We will be at 20 1/2 (Mile Road) and Hayes. It’s by the Buddy’s Pizza in that plaza. So we’re hoping to do well over there.”

In order to build the town center, the mall edifice will need to be demolished, officials said. The announcement said the Lakeside redevelopment project is set to have its official groundbreaking in late 2025.

Learn more about Lakeside Mall, 14000 Lakeside Circle in Sterling Heights, by visiting shop-lakesidemall.com. Find out more about Lionheart Capital by visiting lheartcapital.com, or Out of the Box Ventures by visiting ootbventures.com.