ST. LOUIS — City Foundry, the $210 million restaurant and entertainment district in Midtown, has received a $40 million investment from a Florida-based holding company.
CapStone Holdings has invested in the district, part of which will open later this year. Steve Smith, CEO of Lawrence Group, is principal owner and developer of City Foundry.
“City Foundry matches our investment criteria in terms of high-growth location, a vision brought to life by established developers and entrepreneurs, and with long-term projected positive returns,” CapStone founder and Chairman Keith Stone said in a statement. “The significant buzz that is building among the business community, the excitement among residents and the national attention this and other projects are generating for St. Louis all confirm the factors leading to our partnership in City Foundry.”
Lawrence Group took over the former Federal-Mogul foundry site in 2015 and soon announced a first phase redevelopment to include 122,000 square feet of restaurant space, 105,000 square feet of retail space and 107,000 square feet of office space.
"St. Louis is ready for this unique kind of experience and we are extremely pleased to have CapStone as a key funding partner in assisting us realize our vision," Smith said in a statement.
Click here for the full story.
