Urban Indiana

Developer unveils expanded plans for Lafayette Square after initial idea stalls

More than two years after first unveiling a $200 million plan to revamp Lafayette Square Mall, the developer behind the stalled project on Thursday announced an expanded vision and a new strategy that he believes could push investment in the neighborhood higher.

The revised project plan—which is now named The Square—includes tearing down much of the existing mall structure and replacing it with roadways, apartment buildings, a sports facility and other buildings that create more of a village concept.

But to achieve his expanded vision, Fabio de la Cruz and his firm Sojos Capital will need a substantial amount of help that could come in the form of development partners, city incentives and debt financing—something the developer originally hoped to avoid.

De la Cruz said if his vision is realized and partners participate as he expects, the total investment could reach $700 million to $1 billion.

More below:
https://www.ibj.com/articles/developer-unveils-expanded-plans-for-lafayette-square-after-initial-idea-stalls#:~:text=The%20new%20plan%20calls%20for,square%20feet%20of%20retail%20space.