INDIANAPOLIS --- Plans to totally revamp the former Lafayette Square Mall on Indy’s west side have been in the works for years, but with the mall's doors still closed, some residents are concerned with the progress.
“We’ve been waiting for it to reopen, unfortunately it’s not open yet,” said Anthony Joiner, a resident on the west side who lost his job when the mall closed for renovations in 2022 and never reopened.
Developer Fabio De La Cruz with Sojos Capital said he still plans to live up to the promises he made to the community, but first he's focusing on revitalizing the neighborhood.
In January, he announced an update to the original plan called ‘Window to the World.'
It would have cost $200 million, with $20 million going to renovating the mall that sits near 38th and Lafayette Road.
“People focus on the mall, and they look the more, and they're like, oh, the mall is empty. Nothing is happening. Nothing happened,” said the Sojos Capital CEO Fabio De La Cruz.
“What they don't see is to the other side of the street, that the whole neighborhood is a different neighborhood than three years ago.”
The group told WRTV they’ve invested more than $150 million into the neighborhood as a part of their revamped plan.
They opened the International District Community Center in August, and plan to open Alamo Drafthouse Cinema at the end of October.
De La Cruz said the next big phase will be an affordable housing complex on the north side of the development, at the site of the former Sears Automotive Center.
“It will be 144-unit apartment complex, as everything that we do in the neighborhood is going to be unique, and it's going to be colorful, time it's going to have an affordability component,” said De La Cruz.
He said if they get the necessary financial incentives, the plan is to start on the complex by early 2025.
“By them putting housing there, affordable housing that would make a big difference, not only that, it’s something different,” Joiner said.
WATCH | Developers update plans for Lafayette Square Mall
The phase will also feature a film studio, sports complex, film studio and upgrades to the mall.
The goal is to bring something completely different to the city.
“The idea is to be the best neighborhood that we can build, not only in Indianapolis, around the world,” added De La Cruz.
His vision is to completely transform the area in 10-12 years.
The project is estimated to cost close to $1 billion.
