INDIANAPOLIS (WISH) — Sojos Capital, a locally-based allocation company, unveiled its plan to redevelop Lafayette Square Mall and surrounding properties into a neighborhood named, “The Square.”

“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.”

Key takeaways from the updated master plan include:

• A large portion of the existing Mall structure will be removed to reflect the best use of the entire property (115 acres) and establish a traditional street grid. New buildings will be constructed throughout the property, with intentional additions of outdoor experiences for events and green spaces. A major art installation will be added to the main entrance to commemorate the Mall’s original, modern six-pillar design. 
• The Square will include dining, shopping, housing, office space, youth education, sports, a film studio, entertainment with infrastructure improvements and public safety to support the development in the neighborhood.
• The Indy Pavilion Event Group will move its headquarters and operation to The Square.
• The Square’s overall vision transitions from an international theme to reflect the neighborhood’s complete history. Special emphasis will focus on attracting and retaining talent with high paying jobs.
• Sojos Capital is seeking partnerships with developers to accommodate a larger density of buildings. Development agreements are being finalized and will be announced soon.
• Lastly, Sojos Capital is working with the City of Indianapolis to pursue incentives.

Since announcing the original master plan in November 2021, Sojos Capital has achieved these milestones:

• Completion of the new IMPD Northwest District Headquarters (4005 Office Plaza Boulevard)
• After acquiring several properties in the neighborhood, Sojos Capital now owns 300 acres
• Upgrades to multiple properties including roofs; heating, ventilation and air conditioning (HVAC) units; interior and exterior painting; landscaping and security enhancements to be completed in 2024
• Repurpose a vacant grocery store into the area’s only community center – the International District Community Center (3540 Commercial Drive) set to open in 2024
• Conversion of a vacant cinema and grocery store into Indiana’s first Alamo Drafthouse Cinema (3898 Lafayette Road) set to open in 2024

“We are committed to making a positive impact and creating the best neighborhood in Indiana for people to live, work and play,” said De La Cruz.