The closed Sears department store at the Lakeland Square Mall will soon be transformed into an entirely new development. Flacks Group, a Miami-based equity firm, is purchasing the spot for a new 320-unit luxury apartment complex that will resemble Nottinghill Living, a smaller, but similar in-progress development in Davenport.
In total, the complex will have six buildings — three four-story buildings and three three-story buildings. Between the six buildings, tenants can rent one of 199 one-bedroom units, 106 two-bedroom units, or one of the 15 units with three bedrooms. The number of baths in each unit type is unspecified.
While exact rent prices are subject to change before the complex’s 2025 opening, Jordan Desnick of Flacks Group shared tentative rates of $1,450 for a one-bedroom, $1,700 for a two-bedroom, or $1,900 for a three-bedroom.
As for amenities, here’s what future residents can expect:
- 4,800-sqft clubhouse
- Circular entry court
- Pool deck with cabanas
- Dog park
- Yoga garden
- Community lawn and events area
- Gazebo
- 540+ resident parking spaces
The development may also provide residents direct access to the Lakeland Square Mall via an access point between buildings four and five. According to Flacks Director Jordan Desnick, the group hopes that a new surge of residents in the area will increase economic support for the shopping center.
Flacks Group isn’t the first to redevelop a shopping mall. Similar retail-to-residential developments are underway throughout the country. In addition to residential projects, some shopping malls have been converted into community colleges, medical centers, and green spaces.
No one’s bidding adieu to the Lakeland Square Mall, but we are curious: If you were to continue redeveloping the mall, what would you do next? Put on your developer hat and tell us in this survey.
