Lawrence Group Breaks Ground on $340M City Foundry Saint Louis Development
ST. LOUIS — Lawrence Group has started construction of City Foundry Saint Louis at Cortex, a $340 million mixed-use redevelopment. The building was the former site of the Federal Mogul Foundry in St. Louis, and environmental remediation work on the property is underway.
The first phase of the project will include 48,000 square feet of restaurant and food hall space with approximately 20 food stalls and up to four full-service restaurants; 124,000 square feet of creative office space; 133,000 square feet of retail space accommodating up to 45 retailers; a 511-car parking garage in addition to surface spaces; a connector trail to the Great Rivers Greenway Trail System; and amenities such as public plaza spaces, bike sharing, electric recharging stations and a dedicated ride sharing drop-off.
The Cortex District is a 200-acre section of Midtown St. Louis centered around several research and technology buildings. A nonprofit joint venture between Washington University in St. Louis, BJC Healthcare, University of Missouri – St. Louis, St. Louis University, and the Missouri Botanical Garden operates the district.
“The City Foundry Saint Louis redevelopment represents another example of the continued investment and expansion of the Cortex brand. This will be a tremendous amenity to the already vibrant innovation community that exists at Cortex,” says Dennis Lower, CEO of Cortex Innovation Community.
Lawrence Group expects the first phase of the development, which is scheduled to open in 2018, to create 870 permanent jobs in addition to construction jobs. Future phases call for a 279-unit residential tower, 265,000 square feet of office space and 16,000 square feet of retail.
In addition to the announcement of project details and the start of construction, Lawrence Group has secured Bull Moose Industries as an investment partner.
The project team for City Foundry Saint Louis includes the Lawrence Group, design and development; S.M. Wilson, construction management; Midwest Service Group, remediation and abatement contractor; SCI Engineering, environmental consultant; Grimes Consulting, civil engineering; CBRE, retail leasing brokerage; DCM Management, office leasing brokerage; and Eagle Bank and Advantage Capital Partners, financing.