North Indy’s most upscale shopping strip is getting a serious glow-up. Simon Property Group has rolled out the next phase of upgrades at The Fashion Mall at Keystone, a plan that will turn former department-store space into an outdoor plaza, a new office campus and a cluster of national and first-to-market tenants stretching out over the next several years. Reis-Nichols is set to plant a flagship showroom at the mall in 2026, with additional retailers and restaurants staggered through 2027 and into 2028.
New retail and restaurants on the way
The latest tenant lineup includes 7th Avenue, Kitchen Social, Design Within Reach, Arhaus and North Italia, along with the confirmed Reis-Nichols flagship showroom, according to WTHR. The mix is designed to tilt the mall more heavily toward larger home and lifestyle showrooms, backed up by a beefed-up dining roster.
What Simon is building
On the bricks-and-mortar side, Simon’s plan calls for a multi-story project dubbed One Keystone Crossing, a new open-air plaza and more than 80,000 square feet of exterior-facing streetscape that will house the incoming storefronts and restaurants, as outlined by Simon Property Group. The work targets the southeast corner of the center, the former Saks Fifth Avenue box, and converts it into a campus that blends office space, retail and outdoor gathering spots.
Developer’s vision
Mark Silvestri, president of development at Simon Property Group, framed the overhaul as less about adding square footage and more about creating a hangout. “Through a curated mix of luxury retail, elevated dining and inviting outdoor spaces, we are designing an experience that brings the community together,” he said, as reported by WTHR. Simon is pitching the project as a response to shifting shopping habits and a bid to restore daytime activity along the Keystone corridor.
Staggered openings through 2028
Both Simon and local outlets say the rollout will not be a one-and-done reveal. Some of the new stores are expected in 2027, while additional restaurants and retail concepts are scheduled to arrive in 2028, with the Reis-Nichols flagship set to debut in 2026. The developer had previously indicated that portions of the One Keystone Crossing office project could come online earlier, a sign the campus will open in stages rather than all at once, per local coverage by WRTV.
What shoppers and neighbors will see
For shoppers, the changes should translate into a longer stretch of storefronts, expanded home-design showrooms and a more crowded restaurant lineup over the next two years. Mall managers say most existing stores are expected to keep operating during construction. The broader goal is to pull more daytime workers and weekend diners back to the Keystone area and to give Indianapolis a more walkable, plaza-style retail cluster in a corridor that has long leaned car-first.
