The Fashion Mall at Keystone: Premier Retail & Dining
The Fashion Mall at Keystone, nestled in the bustling Keystone at the Crossing district of Indianapolis, Indiana, has been a prominent fixture in the local retail scene since its opening in 1973.
Developed by Melvin Simon & Associates, the mall was designed to offer a luxury shopping experience in the city. Over the past five decades, it has grown from a small, upscale center to a sprawling hub of high-end retailers, attracting shoppers from all over the region.
Anchored by Nordstrom, The Fashion Mall has positioned itself as the go-to destination for luxury and exclusive brands. It houses over 110 specialty stores, including sought-after names like Gucci, Tiffany & Co., and Louis Vuitton.
The mall’s evolution is closely tied to the growth of the Keystone at the Crossing area, which blends retail, dining, and office spaces in a vibrant, mixed-use environment.
Most recently, the mall experienced a significant shift when Saks Fifth Avenue closed in July 2024 after 21 years of operation.
The closure paved the way for Simon Property Group’s ambitious redevelopment plan, which aimed to bring new life to the southeastern section of the mall.
The plans include office space, additional retail, dining options, and a new outdoor plaza, which is set to be completed by 2026.
This transformation shows that The Fashion Mall at Keystone continues to adapt, ensuring it remains a premier shopping destination in Indiana for years to come.
Early Years and Foundation (1970s)
The Fashion Mall at Keystone opened its doors in 1973. At that time, it was a small retail space of just 50,000 square feet, but it already signaled the beginning of something much bigger for the Keystone area.
Originally, The Fashion Mall stood alongside a quirky neighboring shopping center called The Bazaar. The Bazaar housed small, family-run stores with a labyrinth of narrow corridors that offered a unique contrast to the more luxurious environment of The Fashion Mall.
However, the demand for a more streamlined and modern shopping experience grew, and The Bazaar was eventually demolished to make room for The Fashion Mall’s expansion.
As the decade came to a close, The Fashion Mall’s success attracted more high-end retailers, setting the stage for its future growth.
Even in its early years, the mall helped transform the surrounding area into a thriving commercial district, which eventually merged with the Castleton Square Mall area, just a few miles to the east.
Today, it’s easy to see how these early decisions laid the groundwork for the bustling shopping corridor we know today — one that remains a top destination for things to do in Indianapolis, Indiana.
Growth and Establishment as a Luxury Destination (1980s–2000s)
As the 1980s arrived, The Fashion Mall at Keystone started to expand beyond its original footprint, quickly evolving into a recognized luxury shopping destination.
One of the most notable early anchors was Jacobson’s, which opened its only Indiana location at the mall. Known for offering high-quality merchandise, Jacobson’s helped solidify The Fashion Mall’s upscale image.
In 2003, after nearly two decades, Jacobson’s closed its doors, and Saks Fifth Avenue took over the space. Saks, another luxury retailer, became a major draw for shoppers seeking premium brands.
At that time, Saks was one of only a few high-end department stores in the state. Around this period, more stores like Crate & Barrel (which opened in 2005) and Tiffany & Co. (which followed in 2006) further added to the mall’s prestige.
In 2008, Parisian (another high-end retailer that had opened earlier) was replaced by Nordstrom, further boosting the mall’s reputation.
Nordstrom quickly became a flagship store known for its customer service and wide range of designer labels. As a result, The Fashion Mall at Keystone became a must-visit spot for those looking for high-end shopping experiences.
Recent Changes and Saks Fifth Avenue’s Closure (2020–2024)
By 2020, despite the challenges faced by brick-and-mortar retail nationwide, the mall maintained high occupancy and attracted brands that could not be found elsewhere in Indiana.
Even as the retail landscape shifted, the mall remained adaptable, introducing trendy retailers like Alo Yoga, Aritzia, and Vuori alongside its established luxury tenants.
The mall’s dining options complemented the high-end shopping experience. Whether it was a quick bite at one of the casual spots or a sit-down meal at a more upscale restaurant, The Fashion Mall offered various places for shoppers to refuel.
However, in April 2024, a major change was announced: Saks Fifth Avenue would close its mall location after 21 years. The closure, planned for July 2024, marked the end of an era but also opened up an opportunity for redevelopment.
While Saks struggled to remain profitable in the competitive luxury market, Simon Property Group, the mall’s owner, was already preparing to transform the vacated space.
Following the closure, Simon Property Group revealed plans to develop a modern, multi-story office building called One Keystone Crossing.
This complex will bring 100,000 square feet of office space. The redevelopment will also include new retail and dining spaces and an outdoor plaza designed for community events.
Scheduled for completion by 2026, the project will bring a fresh wave of activity to the mall’s southeast corner, ensuring that The Fashion Mall at Keystone remains a top destination for both shopping and business.
As part of this redevelopment, Simon Property Group also plans to add green spaces, creating an inviting environment for both shoppers and office tenants.
This mixed-use development model is part of a larger trend in retail, where malls are being reimagined as “experience centers” that combine retail, dining, office, and entertainment into a seamless lifestyle experience.
With more interactive and experiential elements on the horizon, The Fashion Mall will continue to offer more than just shopping—it will evolve into a place for people to work, play, and gather.
The mall’s long-term strategy includes continuing to attract exclusive retailers and brands, as well as maintaining its status as the region’s premier shopping destination.
By introducing new spaces and modern features, The Fashion Mall at Keystone is positioning itself to remain a hub of activity and commerce for years to come.
