STERLING HEIGHTS, Mich. – According to city officials, the plan to redevelop Lakeside Mall in Sterling Heights into a city center is about a year behind schedule.
The city and its new owners have a plan to redevelop it, but things appear to be at a standstill.
“Any project of this size is going to have some delays and some hiccups,” said Sterling Heights Mayor Michael Taylor.
Before the pandemic, Lakeside Mall was bought by Out of the Box Ventures, a subsidiary of Lionheart Capital.
In late 2022, the city of Sterling Heights approved Out of the Box Ventures’ plan to demolish the mall and redevelop it into a mixed-use city center featuring housing, retail, dining, parks, and more.
The plan has yet to make much progress as two of the former department stores at the mall, Lord & Taylor and Sears, are holding out on selling.
“Out of the Box Ventures is acquiring the department stores at Lakeside Mall (and) that’s taken longer than anticipated,” Taylor said.
The other two department store spaces, Macy’s and JCPenny have already agreed to a deal with Out of the Box Ventures.
“Once the department stores are under contract, then things are going to start moving very quickly,” said Taylor.
Sterling Heights City Council recently voted to use $3 million of grant money to purchase the department stores; however, it still needs to be determined when those deals will be finalized.
Taylor said the city center project will be completed in about 10 years once demolition and construction begin.