Demolition, redevelopment or transformation has claimed several long-standing malls across metro Atlanta, and now another mall in Georgia is slated for rebirth.
Lakeshore Mall in Gainesville is the latest suburban retail hub poised for a mixed-use makeover, trading mall corridors and food courts for apartments and a town center vibe. Gainesville leaders recently approved the mall’s rezoning, allowing for demolition to begin next year.
Branch Properties, an Atlanta-based private real estate investment and development firm, is helming the 49-acre project, which will be called Lakeshore — dropping mall from its name.
When fully complete, the developer expects Lakeshore to feature more than 305,000 square feet of retail space, 652 apartments and more than 38,000 square feet of community green space. There will also be space to add a hotel and townhomes during future phases.
“Over the next few years, we will transform Lakeshore into a dynamic, pedestrian-friendly destination, reimagining underutilized space into an open-air environment that fosters connection, gathering and a sense of community,” Jesse Shannon, Branch Properties’ president, partner and chief investment officer, said in a news release.
Built in 1970, Lakeshore Mall is a shopping fixture between Lake Lanier and I-985, roughly an hour northeast of downtown Atlanta. The largest city in Hall County, Gainesville has seen its population steadily grow to about 43,000 in recent years, increasing 12% from 2020 to 2023, according to U.S. Census Bureau estimates.
Two of the mall’s anchor tenants, Dick’s Sporting Goods and Belk, will remain open during Lakeshore’s redevelopment. Commercial real estate brokerage firm Franklin Street will handle retail leasing for the new district. Lakeshore’s redevelopment is expected to be complete in 2028.
Lakeshore Mall joins a growing roster of outdated shopping centers looking to remake themselves into mixed-use districts that meet modern shoppers’ tastes.
Several regional malls nationwide have shuttered amid the rise of online shopping and since the COVID-19 pandemic. Several Atlanta-area malls have been reimagined or redesigned into mixed-use developments, often with apartments, office space, entertainment attractions and other uses.
North DeKalb Mall was demolished last year to make way for the Lulah Hills mixed-use district, while the city of Atlanta acquired Mall West End last fall for a similar redo focused on affordable housing.
Mall distress became visible in Cobb County last week when Town Center mall in Kennesaw abruptly closed for a day due to delinquent electricity bills. While that mall isn’t slated for redevelopment or major changes, its financial struggles are not unique among aging retail centers.
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