Apartments Coming to Lakeshore Mall in Gainesville

Branch Properties, LLC announced plans to redevelop and revitalize Lakeshore Mall, a 493,000-square-foot property in Gainesville, Georgia. They aim to transform it into a mixed-use retail and residential hub. Renderings and vision statements from Branch Properties offer a glimpse into the area’s proposed future.

Rendering Courtesy of Branch Properties

Opened in 1970, Lakeshore Mall, also known as Lakeshore Plaza, saw many significant changes before being purchased by Branch Properties. Major improvements included the construction and later demolition of a movie theater and food court. At maximum occupancy, the shopping complex offered visitors access to over 50 retailers.

JCPenney, one of the venue’s last original anchor tenants, closed in 2020. Branch Properties has announced that two key tenants still occupying retail space in Lakeshore Mall will remain. Dick’s Sporting Goods will stay onsite but move to a different location. Belk plans to remain in its current location and stay open throughout the redevelopment process.

Branch Properties is local to Atlanta and nearly as old as the mall it seeks to reimagine. The investment and development LLC was founded in 1973. The business purchased the mall for $30 per square foot in 2022, but only announced development plans in late 2024.

The team focuses on grocery-centered shopping developments and boasts dozens of projects across eight states. They’ve enjoyed marked success in other regional projects in Georgia, notably their Summerhill Station Supermarket, which won the 2024 Commercial Development of the Year Award for the Atlanta region.

Although their developments are multi-tenant, Branch Properties has focused primarily on single-use, retail locations. The Lakeshore Mall project will be an unusual challenge as a multi-purpose site, but the team has already released multiple renderings showcasing their plans to streamline the space to be both a welcoming home for residents and an attractive shopping venue for the community.

The current vision features three key elements: retail space, residential space, and green space. 305,444 square feet would remain dedicated to retail. Not only would several current tenants remain, but the developers have signaled interest in bringing fresh new shops and restaurants to the complex. Residential areas would feature 652 multi-family units. It isn’t clear if any will be designated as affordable in order to secure benefits for the developer. It’s worth noting potential benefits might have influenced Branch Properties’ choice to try something new with this multi-use project.

38,200 square feet of remaining outdoor space has been pitched as residential common areas and communal green spaces. Not only would these park-like zones potentially offer recreational amenities, but they could help fuse the two major halves of the developer’s vision: residents and retail. Keeping ground-level retail venues easily accessible to people renting in the same complex and in nearby developments encourages an onsite consumer lifestyle. This would be benefit the businesses and add convenience for residents.

Details about amenities remain scarce. Available renderings focus on the development’s exterior, highlighting how it would appear as part of the existing neighborhood. Proposed residential buildings, however, show lots of windows and balconies rising four or five stories. Images of the imagined green spaces show comfortable seating, arched trellises, and dog walkers. Retail units line the sidewalks to either side.

This vision suggests pet-friendly living, or at least pet-friendly community space. The abundance of balconies could indicate they may be standard features for residential units. There are no clear indications of rooftop amenities for residents in the available art, but the lowest level of residential buildings appears taller than the rest. It’s unclear if the first floor will be entirely leased to retail tenants in every building or if these levels could offer additional parking and attractions for residents.

The public announcement is only the first step towards the redevelopment of Lakeshore Mall. Branch Properties must file the DRI (Development of Regional Impact) and wait for approval. After filing, there will be an opportunity for community feedback, and Gainesville officials plan to consider the proposal’s zoning entitlements in February 2025.

If all goes to plan, the team aims to break ground on the property in late 2026. This is only the first step in a multi-year plan that only begins with the proposed retail and residential development. The site Branch Properties owns has space that could be used for a hotel and townhomes after the initial, formally-announced development is established.