The
Gaithersburg
Mayor and City Council granted approval of the Gateway Lakeforest Zoning Map Amendment Z-9928-2024 at their July 7, 2025 meeting.
This is different than the
Lakeforest Redevelopment project.
The property is located at the corner of North Frederick Ave and Lakeforest Blvd and includes 481 N Frederick Ave, 101 Lakeforest Blvd, and 702 Russell Ave. The plan proposes to redevelop 481 N Frederick Ave and 101 Lakeforest Blvd with a new 8-story multi-family residential building with up to 410 units and a ground floor commercial use.
The applicant, 417 Development LLC, is the original developer of the Property– having acquired out parcels from the Lakeforest Mall development in the late 1970s. According to the Gateway Lakeforest site plan on
klnb’s website
, an opportunity for a 21,000 SF anchor opportunity is available to lease in the upcoming building. The existing office building at 702 Russell Ave will remain with minor site edge improvements.
