‘Construction climate’ affects Lafayette Square Mall redevelopment
INDIANAPOLIS (WISH) — The development firm behind the planned $200 million redevelopment of Lafayette Square Mall in Indianapolis is facing “challenges with the current construction climate.”
A statement issued Friday from Sojos Capital didn’t say whether the mall will reopen as planned Nov. 21.
In the meantime, tenants of the mall will be offered “a free, temporary space in a former anchor store” so shoppers can return. Details on that plan have not yet been completed, so no date was available for the shopping to resume.
The mall closed in late August to allow crews for extensive electrical work, new flooring and other upgrades in what’s been called the initial phase of the redevelopment. 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, Sojos Capital has said.
Fabio de la Cruz, principal with Sojos Capital, first announced plans to transform the northwest side mall to Window to the World about a year ago.
Lafayette Square Mall, located off East 38th Street and Lafayette Road, opened in 1968.
Statement
“We are working diligently to transform the former Lafayette Square Mall into the mixed-use landmark destination, Window to the World. While we are pleased with how the revitalization is going, the challenges with the current construction climate have caused us to pivot. The building will continue to be inaccessible until its completion. One of the most intense components of the project is the complete renovation and build-out of the food, beverage and entertainment area. By not remaining open for business, we will be able to further accelerate renovation efforts while guaranteeing the safety of our tenants, employees and visitors.
“To ensure our tenants are successful, we are meeting one-on-one to evaluate their needs to create individualized action plans. We are providing business mentorship opportunities and as-needed landlord improvements. Tenants will also have the opportunity to relocate to a free, temporary space in a former anchor store, open to the general public, to allow them to continue doing business until construction is complete.
“Thank you for your understanding and patience. We will continue to provide relevant updates during the remainder of the transformation.”
Susan Decker, chief executive officer of Decker Media, for Sojos Capital