INDIANAPOLIS — A company is unveiling its master plan to redevelop the former Lafayette Square Mall and surrounding properties on the northwest side of Indianapolis.
Sojos Capital announced "The Square" will be a multi-million dollar landmark destination development project.
"The Square is much more than just a development project," said Fabio De La Cruz, principal of Sojos Capital. "So many people have an emotional connection with the Mall - be it their first job, going to the movies, attending a special event and so much more. This project is building on the foundation to create a more vibrant and welcoming neighborhood, where people can continue to make memories and connections. We want to honor the history of the neighborhood and give a nod to the past while blending modern amenities for the future."
RENDERINGS: Redevelopment plan for Lafayette Square Mall
Located along Lafayette Road and 38th Street, The Square will include dining, shopping, housing, office space, youth education, sports, a film studio and entertainment options.
A large portion of the existing Lafayette Square Mall structure is going to be removed and replaced with new buildings and outdoor experiences for events and green spaces. According to Sojos Capital, a major art installation is also being added to the main entrance to commemorate Lafayette Square Mall's original, six-pillar design.
Sojos Capital is working with the City of Indianapolis to pursue incentives in the redevelopment project, along with seeking partnerships with developers to accommodate the new buildings.
In November 2021, Sojos Capital announced a $200 million plan to turn the mall and surrounding campus into "Window to the World."
Everything except Shopper's World has been closed at Lafayette Square Mall since August 2022. Customers were still filing in and out of Shopper's World during Thursday's redevelopment announcement.
The next big project is to renovate and reopen the movie cinema across the street from the mall, with Alamo Drafthouse Cinema opening its first Indiana location.
The movie theater will occupy the site of the former Georgetown Cinema at 3898 Lafayette Road, across from Lafayette Square, the company said in a press release.
Alamo Drafthouse will feature 14 screens, food and a standalone bar.
The company was founded in 1997 as a single-screen repertory theater in Austin, Texas, and has grown to 39 locations across the country.
The new theater is expected to open in the spring of 2024.