Rezoning approval moves Lakeshore Mall redevelopment project forward in Gainesville

Gainesville City Council voted unanimously on Tuesday to approve the rezoning of Lakeshore Mall, allowing plans to move forward to redevelop the 49-acre site into new housing, retail locations, and community greenspace. 

Branch Properties, an Atlanta-based private real estate investment and development firm, intends to break ground on the project, known as Lakeshore, in late 2026 and complete the redevelopment in 2028. The firm envisions a future for the property as a walkable town center. 

“The entire development is anticipated to be built over a period of seven years, over three phases, with demolition and infrastructure improvements beginning in the third quarter of 2026,” Matt Tate, planning manager for the City of Gainesville, said in a presentation to council members on Feb. 4. 

The Lakeshore Mall site is situated between Lake Lanier and Interstate 985 at the intersection of Dawsonville Highway and Pearl Nix Parkway. The mixed-use development will include 652 multifamily housing units, more than 300,000 square feet of retail space, and about one acre of outdoor community space spread across three greens. Future phases of development could add 80 townhomes and a 95-room hotel, according to Branch Properties. 

“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, president, partner and chief investment officer at Branch Properties, said in a press release. 

The Lakeshore Mall, which today includes nearly 500,000 square feet of retail space, is still open for business prior to the groundbreaking on this project. The Belk and Dick’s Sporting Goods that anchor the mall will remain open during the redevelopment process, and Dick’s Sporting Goods will be relocated on the property. 

Branch Properties acquired the site in 2022 and unveiled initial plans for its redevelopment in November 2024. 

“Lakeshore Mall has held a prominent place in the heart of Gainesville, but like many aging malls, it is now functionally obsolete and it is time to place this asset back into service as an asset for the community,” Nicholas Telesca, president and chairman of Branch Properties, said at the city council meeting. 

Lakeshore is one example of a wave of projects across the U.S. over the last few years aimed at revitalizing malls that have been in decline for decades — with a goal of transforming these properties from increasingly vacant retail spaces into sites that include components like housing and office space and making them more pedestrian- and transit-friendly.

Officials in Gwinnett County have been working for years on a plan to redevelop Gwinnett Place Mall, and an acquisition of additional property by the county in September 2024 could help the project advance. 

“We are no strangers to Gainesville. We’ve invested in Gainesville for over 10 years,” Telesca said of the Atlanta-based firm. 

Branch Properties primarily owns and develops shopping centers anchored by grocery stores in the southeast, with about a dozen across metro Atlanta, including two properties in Gainesville and one in Braselton. Telesca said the firm has also executed a similar mall redevelopment project in Bellevue, Tenn.  

“Gainesville has undergone significant growth, with the population increasing by 15 percent in the past five years, fueled by the draw of Lake Lanier and migration from Atlanta suburbs,” Shannon said. “The transformation of Lakeshore will establish Gainesville’s new community heart — an inviting destination that cultivates connection and community through thoughtfully designed public spaces and expansive greenspace.”

Now that the rezoning has been approved, Branch Properties will work to finalize design plans and secure additional development partners.