Lakeside mall opened in 1976, which contained around 180 different stores, and was developed by A. Alfred Taubman and Rodamco. In 1990 the mall expanded in size and got a $3 million renovation in 2007, which included new signs and better pedestrian access. New features of the shopping center include an ice skating rink, food truck, and a pop up market space.
Over many years, Lakeside's popularity decreased due to competition. The Mall of Partridge Creek opened up in 2007 which took away customers. During the time of the opening Lakeside started to suffer. Many stores and big companies have shut down their stores inside of the mall in result.
"When I was younger Lakeside was a big part of my childhood," senior Gabriela Hotij said. "It's sad to see it become rundown and empty."
Throughout the past few years, many stores have been closing down. Two of Lakeside's main department stores have shut down. Lord & Taylor and also Sears have shut down, leaving Macy's, Macy's Men, and JCPenney.
"Over time. I slowly started to notice less people going to the mall and many stores and restaurants losing business," junior Shane Strasdin said. "I feel that a lot of people rely on online shopping and are becoming more lazy."
In 2017, Sterling Heights released some ideas for the area around the mall. They included parking decks, residential living, green space, office developments, and even a beach on the lake surrounding part of the mall site.
"We are excited about our plans to revitalize Lakeside Mall with a new wave of premium tenancy and engaging activations," said Ophir Sternberg, CEO and founding partner of Lionheart Capital in the city's news release.
"I live really close to Lakeside and there isn't any other malls close to me," senior Chelsea Rakes said. "I'm happy the mall is still going to stay the way it is, but renovated and updated. The location of the mall is very convenient to most people in this area, so whenever I go shopping Lakeside is always my first choice."
General Growth Properties Inc. were the previous owners of Lakeside, but on Dec. 17, Out of the Box Ventures, a commercial real estate investment of Miami Lionheart Capital, closed on the property and are now the present owners.
"It's exciting to see all the possible changes to the area and how it could impact the lives of everyone around it," Senior Alexis Parson said. "I hope some parts of the mall stay the same so I won't be confused when I go back."
Out of the Box Ventures paid $26.5 million for ownership of Lakeside mall on Hall Road. Out of the Box ventures owns multiple other malls too. For example, Honey Creek mall, Richland Mall, and Walnut Hill plaza, which are all outside of Michigan.
Credits:
Selina Rivera