With financing complete, City Foundry STL Phase 2 is moving forward with construction. The $125 million development will include a 14-story, 272-unit residential tower, an 83,000-square-foot office building, 25,000 square feet of retail space and a 481-car parking garage.
“We have always imagined that City Foundry would include places to live, which would complement all of the commercial activity and jobs that presently exists in Phase 1,” said Steve Smith.
One of several unique aspects of Phase 2 is the five-story office building. The building will be St. Louis’ first mass timber building, constructed entirely out of wood.
“We are using a completely sustainable material, with a lower carbon footprint, and creating an overall healthier building for its inhabitants compared to traditionally constructed office buildings,” said Tim Rowbottom.
Timber building technology has been used in other parts of the U.S., primarily in the Pacific Northwest, with only a handful of similar projects in the Midwest.
Construction for City Foundry STL Phase 2 will begin January 2022 and complete in early 2024.