INDIANAPOLIS – November 2021 – Local company, Sojos Capital, unveiled its multi-million-dollar plans to create a mixed-use landmark destination known as Window to the World, formerly Lafayette Square Mall, in the International Marketplace neighborhood. Plans will also include multiple surrounding properties within the area; focused on dining, music, art, shopping, housing, office, youth education, sports, entertainment, infrastructure improvements and public safety.
“I achieved my own American dream right here in the International Marketplace,” said Fabio de la Cruz, principal, Sojos Capital. “I started as a busboy at a restaurant, then worked hard to learn about real estate and started my own company. For more than 15 years, I’ve been buying abandoned properties in the area. I saw these vacant spaces and was shocked that the buildings weren’t packed with tenants because I knew people who would be interested in renting those properties. I talked to the landlords and they were more concerned about financials than the person’s character and vision. Whenever I take over, I fix the property. I give the opportunities to people I think deserve it. The rest is history. I love to pass opportunities to others that I once had. This is why I’m passionate about the success of this neighborhood.”
Sojos Capital successfully raised and closed a qualified Opportunity Zone Fund, which is the source of capital for Window to the World. After already investing $500,000 in due diligence studies and more than $6 million on capital improvements at the former Lafayette Square Mall, Sojos Capital projects an additional $200 million investment to transform into the new Window to the World.
Due to the distressed condition at acquisition, immediate improvements included repairing and replacing the roof, changing the air conditioning units and adding security enhancements. The first phase will include additional investments, expected to be completed between 2022-2023, including:
- Transformation of the former mall interior into year-round indoor “streets” that recreate outdoor scenes from around the world
- Ground-up construction of approximately 200 multi-family rental units
- Renovation of a former anchor store into a boutique hotel
- Renovation of a former anchor store into innovative office space
- Renovation of a former anchor store into a multi-functional event space
- Renovation and leasing of outparcel buildings, such as veterinarian/pet boarding, bicycle sales and rentals, and coffee shop
- Construction of a new public trail and public park
- Infrastructure and street improvements
Sojos Capital owns more than 250 acres and two million square feet on the city’s westside. The properties are located within these boundaries; north: Georgetown Road and Interstate 65; south: 30th Street and Lafayette Road; east: Lafayette Road and Interstate 65; and west: 38th Street and High School Road. Of this portfolio, Window to the World includes 112 acres and 1.3 million square feet.