‘Window to the World’ Aims to Transform Mall

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Indianapolis-based Sojos Capital has unveiled plans to transform Lafayette Square Mall and surrounding properties on the city’s northwest side into a multicultural mixed-use development. Known as Window to the World, the more than $200 million project seeks to revitalize the property with a focus on retail, office and residential space, among other amenities. Sojos Principal Fabio de la Cruz says he wants to create a destination not only for residents in the area, but the entire country.

In an interview with Inside INdiana Business, de la Cruz said the project would mirror the concept of the entire International Marketplace neighborhood.

“Always, I’ve thought that this neighborhood was unique in the sense of you have a lot of diversity in the same neighborhood and that’s unheard of,” said de la Cruz. “It’s hard to see a neighborhood where you have every culture in the same neighborhood. I can have diversity in New York and L.A. and Chicago, but you have to go to different parts of the city to experience something of that culture. Here, it’s not.”

Sojos Capital, which owns the mall property and multiple commercial properties in the surrounding area, says it has already made more than $6 million in improvements at the mall and the $200 million investment will fund multiple major capital projects.

The first phase of the project will include transforming the mall’s interior into year-round “indoor streets” that recreate outdoor scenes from around the world. The company also plans to renovate three former anchor stores into a boutique hotel, office space, and a multi-functional event space, respectively.

Sojos also plans to build 200 multi-family rental units near the property, as well as renovate and lease outparcel buildings for uses such as veterinary and pet boarding, bicycle sales and rentals, and a coffee shop.

Plans for the first phase also call for the construction of a new public trail and public park, as well as infrastructure and street improvements. The first phase is expected to be complete in 2022 and 2023.

  (image courtesy of Sojos Capital)

“We’re doing all the projects at the same time,” said de la Cruz. “We’re not doing them one-by-one. That’s why it takes a lot of manpower. It takes a lot of work and fortunately, I have the greatest team.”

Sojos Capital has additional projects in the area undergoing renovation or ground-up construction, including:

• Fabio Sports, featuring indoor soccer, paddleball courts, sports academy and a dance studio (renovations expected to be completed by end of 2021)
• International Concert Center (renovations expected to be completed in 2022)
• Trampoline park (renovations expected to be completed in 2022-2023)
• Ground-up construction of the new IMPD Northwest District Headquarters (expected to be completed February 2022)
• Exterior improvements at 4090 Lafayette Road (expected to be completed in 2022)
• Exterior improvements at 3717 Lafayette Road and 4343 W. 38^th Street (expected to be completed in 2022)
• Exterior improvements at 3540 Commercial Drive (expected to be completed in 2022)
• New soccer fields at 5101-5111 W. 38^th Street (expected to be completed in 2022)
• Ground-up construction of soccer facility at 5101-5111 W. 38^th Street (completion date to be determined)
• Ground-up construction of Monarca Academy at 5101-5111 W. 38^th Street (expected to be completed in 2023)
• Renovation and reopening of movie theater at 3898 Lafayette Road (expected to be completed in 2022)

  (image courtesy of Sojos Capital)

The feedback from the community, according to de la Cruz, has been overwhelmingly positive. He says he has talked to various neighborhood associations and the reception has been “amazing.”

“Most of the people [are] thinking, ‘This guy is going to paint [the mall] or he’s going to change the food court,’ and I’m saying, ‘No, no, we will become one of the best neighborhoods in the country,'” he said. “That’s why so far, it’s been really deep for me because it has touched my heart when I see the neighborhoods that they’ve been rooting for for a long time and now they think that they have a shot at it.”

Sojos representatives tell our partners at the Indianapolis Business Journal that they hope to take advantage of the mall’s location inside a federal opportunity zone, as well as help from other investors to help fund the project. de la Cruz adds the company is pursuing tax incentives for the project.