3-month closure to fuel Lafayette Square Mall renovation
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The development firm behind the planned $20 million redevelopment of Lafayette Square Mall in Indianapolis plans to close the property over a three month period to further renovation efforts. Sojos Capital says the move will bring the Window to the World transformation to fruition more quickly.
The goal of the project’s first phase is to turn the mall property into a multicultural mixed-use development with the mall interior featuring year-round “indoor streets” that recreate outdoor scenes from around the world.
Sojos Capital says it has already begun multiple upgrades to the mall, including replacing the roof, changing HVAC units, interior and exterior painting, and additional security enhancements.
The three-month closure, which will take place from August 29 through November 21, is expected to allow crews to complete the upgrades, as well as undergo extensive electrical work and new flooring installation, among others.
“Not remaining open for business during a short-term renovation allows us to address all construction issues as quickly as possible, while guaranteeing the safety of our tenants, employees and visitors,” Sojos Capital Principal Fabio de la Cruz said in written remarks. “We have extensive plans to transform the entire neighborhood and opening Window to the World is the first step in creating a welcoming space for everyone to live, work, play and stay.”
Sojos Capital says it will provide support for tenants who have signed letters of intent to return as part of Window to the World. The tenants are being offered six months of free rent, free installation of new LED lighting, professional and business development assistance, and partnerships with Indiana Gifts and Indiana Owned to provide online selling opportunities.
The mall is set for a soft reopening in late November, which Sojos says will allow tenants to be open during the busy holiday shopping season while construction and design work continues.
The first phase of the project will also include transforming an vacant anchor department store into a boutique hotel, building underground infrastructure for more than 700 residential units, and developing public trails and a public park.
A grand opening celebration for the first phase is planned for April 2023.
de la Cruz first detailed plans for Window to the World last November. The overall $200 million project will include future phases that will feature rental townhomes, apartments, a new veterinarian office, pet board and dog park facility, and new retail and restaurant tenants.