Developer unveils updated redevelopment plan to transform Lafayette Square Mall
Initial plans, which included Lafayette Square Mall in the “Window to the World” redevelopment plan, have shifted to transform the former mall into a reimagined multi-million dollar destination called “The Square.”
Back in November 2021, we told you about the redevelopment project that announced plans to transform the ~113-acre site where the former Lafayette Square Mall sits + some of the adjacent buildings into “Window to the World.”
Now, we’re getting a look at the updated redevelopment master plan that has shifted from the idea of “Window to the World” to a reimagined multi-million dollar destination called “The Square.”
“The Square is much more than just a development project,” said Fabio De La Cruz, principal of Sojos Capital. “[...] We want to honor the history of the neighborhood and give a nod to the past while blending modern amenities for the future.”
The Square’s vision transitions from an international theme to focus on the neighborhood’s history and build off of its foundation. In the updated plan, a large portion of the vacant mall space will be demolished to make the best use of the entire property (115 acres).
New buildings will be constructed throughout the property to keep many of the amenities that were planned for this project — including dining, shopping, housing, office space, youth education, sports, a film studio, and entertainment. Infrastructure and public safety improvements are already in progress, with the completion of the new IMPD Northwest District Headquarters (4005 Office Plaza Blvd.), plus more security enhancements to be completed in 2024.
The first pieces of this huge redevelopment project are set to open this year. The new International District Community Center (3540 Commercial Dr.) and Alamo Drafthouse Cinema (3898 Lafayette Rd.) projects are currently underway.
“We are committed to making a positive impact and creating the best neighborhood in Indiana for people to live, work, and play,” said De La Cruz.
Sojos Capital said it’s seeking partnerships with developers + agreements are being finalized and will be announced soon. It’s also working with the City of Indianapolis to pursue incentives.