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Redevelopment updates revealed for The Fashion Mall at Keystone

Simon Property Group is giving us a look at what to expect with its new redevelopment project that will bring new dining, retail, office, and outdoor space to the shopping center.

A rendering of a redevelopment project at The Fashion Mall at Keystone

The Fashion Mall at Keystone is positioning itself to be Indy’s premier shopping destination.

Rendering provided by The Motion Agency/The Fashion Mall at Keystone

Earlier this year, Simon Property Group announced that Saks Fifth Avenue at The Fashion Mall will close after its lease ends — and with that comes a redevelopment opportunity.

The project will take the southeastern corner of the mall that used to be occupied by Saks Fifth and turn it into a multi-story project called One Keystone Crossing. It’s described as a “modern, sophisticated, Class A office space.”

“You’ve seen better and better retailers come in, better brands, and exclusive brands to the market open at Keystone,” Mark Silvestri, Simon’s president of development, told WTHR. “This is another way to continue that. We can make better use of that space after their closure.”

The project will add new dining + entertainment options, along with a 100,000-sqft office space overlooking an outdoor plaza that can host community gatherings and events.

INDY_The Fashion Mall redevelopment rendering of outdoor plaza_JUNE2024

The campus will be a place where work, play, shop, and dine are stylishly intertwined.

Rendering provided by The Motion Agency/The Fashion Mall at Keystone

“The Fashion Mall at Keystone’s redevelopment will further enhance the center’s positioning as the region’s premier experiential shopping destination and a gathering place for the community,” Patrick Peterman, senior vice president of mixed-use development at Simon, said in a press release.

The transformation is expected to begin immediately following Saks Fifth’s planned closure next month. One Keystone Crossing is planned to open in late 2026.

In the meantime, one of the newest retailers to join The Fashion Mall’s directory is California-based jewelry brand gorjana, which will open its first Indiana store on Monday, July 1. Other recent additions this year have included Aritzia and Alo Yoga, which are open.

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