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Simon shares new details for redevelopment of Saks Fifth Avenue store

See new renderings of redevelopment for Fashion Mall at Keystone

INDIANAPOLIS (WISH) — New details and renderings were shared Wednesday on the upcoming redevelopment of The Fashion Mall at Keystone.

The redevelopment, first announced in April, is expected to begin following the Saks Fifth Avenue retailer’s planned closure in July.

Indianapolis-based mall owner and real estate developer Simon says in a news release that the renovated space will be “modern, sophisticated” office space. One Keystone Crossing would open in the last three months of 2026 with 100,000 square feet of office space.

Simon described the multi-level redevelopment as a “new standard for the workplace of the future.”

The offices will “will overlook a lush, green, outdoor plaza ready to host events and community gatherings, will further transform the southeastern section of the shopping center, including the current Saks Fifth Avenue,” the release says.

The release did not provide any details on how much will be invested in the redevelopment.

Below are renderings from Simon of the proposed redevelopment.


“The Fashion Mall at Keystone’s redevelopment will further enhance the center’s positioning as the region’s premier experiential shopping destination and a gathering place for the community. Simon’s commitment to this asset will ensure the center continues to elevate the experience for our discerning patrons and to meet the demands of our retailers. One Keystone Crossing is another great example of the synergistic effect of transforming Simon properties into integrated mixed-use environments for businesses, their employees and visitors — redefining the way we work, dine, play and shop.”

Patrick Peterman, senior vice president of mixed-use development at Simon

“We are excited to offer companies this opportunity to transform their workplace in a setting designed to attract top talent and impress clients. One Keystone Crossing’s highly sought after location paired with the connectivity to The Fashion Mall at Keystone and its world-class amenities meets the demand of office users looking for a vibrant mixed-use environment in the heart of the strongest submarket in Indianapolis.”

John Robinson, market leader for agency leasing at Chicago-based JLL real estate services