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Branch Properties, a real estate investment and development firm, has announced a plan to redevelop Gainesville, Georgia’s Lakeshore Mall, into a multi-use, walkable community.
The project aims to create a new hub for shopping, living, and gathering in one of Georgia’s fastest-growing cities, according to a report from bizjournals last week. Gainesville is located 50 miles northeast of Atlanta.
The November issue of Georgia Trend reported the Gainesville “area is an increasingly popular bedroom community for Atlanta. The cost of doing business in Gainesville is only 85% of the US average. The labor force is growing.” Manufacturing, healthcare, wholesale trade, and education form the backbone of the area’s economy.
The redevelopment will maintain popular retail anchors like Dick’s Sporting Goods and Belk while also adding new residential, retail, and green spaces.
The first step in this multi-year project is to file a Development of Regional Impact (DRI), which will allow for community feedback.
“Our goal is to turn Lakeshore into a lively, pedestrian-friendly center that meets the needs of Gainesville,” said Jesse Shannon, president and chief investment officer at Branch Properties. “By using the mall’s existing space, we can create an inviting environment that encourages community interaction,” Shannon added.
Lakeshore Mall opened in 1970 with JC Penney as its anchor tenant. It was then the largest mall in the northeast Georgia area outside of Atlanta.
Rendering of Lakeshore Mall transformation project in Gainesville, Ga. Image: Branch Properties
The plans include 305,000 square feet of retail space, 652 multifamily residential units, and 38,200 square feet of outdoor green space. In future phases, a hotel and townhomes are also planned.
“The mall’s location in Gainesville, which is seeing rapid population growth, makes it the perfect spot for this transformation,” Shannon noted.
Lakeshore Mall, located along Dawsonville Highway, a significant road in Gainesville, currently has 492,798 square feet of retail space. Branch Properties acquired the mall in 2022 and plans to start construction in late 2026. Franklin Street will oversee the project’s retail leasing.
According to the US Census Bureau, Gainesville’s population has grown by nearly 15% since 2020. Employers in the area are stimulating population growth, as is the attraction of the nearby recreation area, Lake Lanier, and migration from Atlanta suburbs. This growth has also increased the need for community spaces and housing.
Founded in 1973 and based in Atlanta, Branch Properties focuses on investing, developing, and operating retail properties in the southeastern US.
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