City Foundry STL Attracts First-To-Market Entertainment Uses And Restaurants To Anchor First Phase Of Mixed-Use Redevelopment
St. Louis – Jan. 24, 2018 - City Foundry STL, one of the highest profile, mixed-use redevelopments of a historically significant site in the Midwest, has secured leading entertainment venues and restauranteurs to make their Missouri debuts in the $185 million first phase opening in 2019, developer Lawrence Group announced today.
Anchoring the entertainment portion of City Foundry STL’s first phase are Alamo Drafthouse, with plans to open a 10-screen, state-of-the-art location offering made-from-scratch food, handcrafted beverages, local craft beer, newly released movies and iconic special events; and Punch Bowl Social, an award-winning “eatertainment” concept that combines social gaming with a focus on a highly craveable, diner-inspired menu and not-found-elsewhere craft beverage offerings.
City Foundry STL’s new food-and-beverage anchors include Fassler Hall, the German-inspired beer hall and rooftop beer garden operated by pub-and-restaurant owner McNellie’s Group; and the Food Hall at City Foundry STL, the first true food hall in St. Louis offering 20 stalls for unique eateries from innovative chefs. REV Hospitality will operate the Food Hall at City Foundry STL with an emphasis on St. Louis-based chefs offering diverse and creative food offerings in a community atmosphere that contributes to visitors’ experience at City Foundry STL.
“We’re pleased to welcome Alamo Drafthouse, Punch Bowl Social, Fassler Hall and the Food Hall at City Foundry STL as the first of a compelling collection of retailers, restaurants and entertainment uses that will establish City Foundry STL as a prime destination within St. Louis’ vibrant Midtown market,” Lawrence Group Chief Executive Officer Steve Smith said. “We look forward to adding more first-to-market retailers, restaurants and office users to further establish City Foundry STL as a project that honors the significance of this site and the renaissance of Midtown St. Louis.”
Punch Bowl Social founder and CEO Robert Thompson called the opportunity to anchor City Foundry STL significant. The brand, with properties across the country, has a proven track record in both urban revitalization projects and mixed-use developments including a November 2017 opening in Denver, Colo., in the iconic air-traffic-control tower of the former Stapleton Airport and a slated spring 2018 opening in a historic boxing coliseum in San Diego, CA.
“City Foundry STL is a distinct and highly valuable urban re-use project that promises to bring an elevated experience to the St. Louis community,” Thompson said. “We were immediately impressed with the Lawrence Group’s vision to build out for the future while remaining true to the foundry’s historic past, and we look forward to playing a key role in its exciting next chapter.”
CBRE Retail professionals Paul Fusz and Andrew Turf represented Lawrence Group in lease negotiations with these new tenants and are marketing the balance of City Foundry STL’s retail space. City Foundry STL’s first phase is planned for 122,000 sq. ft. of restaurant and entertainment space, roughly 105,000 sq. ft. of shops and 111,000 sq. ft. of offices.
Lawrence Group, the St. Louis-based design, development and project-delivery firm, started construction last year on the first phase of City Foundry STL. The project is a redevelopment of the historic 89-year-old Century Electric Foundry Complex (later operated by Federal Mogul Corp.), originally a manufacturing site for electric-motor castings and later for automobile parts.
The property sat vacant for a decade until an investment group led by Mr. Smith and London-based Caparo, a grouping of diversified global businesses led by the Right Honourable Lord Swraj Paul, purchased it in 2015. The 15-acre site is listed on the National Register of Historic Places as a historically significant, contributing site to St. Louis’ manufacturing heritage.
City Foundry STL’s development coincides with the rebirth of St. Louis’ Midtown district. Previously home to dilapidated warehouses, small manufacturers and other remnants of the city’s industrial past, Midtown and the city’s surrounding Central Corridor has undergone redevelopment and revitalization that has attracted regional offices of multinational corporations and new outposts for global retailers. The approximately 5-square-mile corridor in this region of 2.8 million residents has attracted more than $7 billion of active and announced developments.
With several entertainment and restaurant tenants in the fold, City Foundry STL now is actively marketing to apparel and soft-goods stores complementary to the project’s tenant mix. “City Foundry STL is ideal for retailers catering to the trend-conscious, experience-driven customer drawn to the project’s entertainment and restaurant uses,” CBRE’s Mr. Turf said. “Additionally, City Foundry STL’s office users will add to the strong base of repeat shoppers and diners in that market.”