Lawrence Group Unveils Vision for the Former Federal Mogul Site – London-based Bull Moose Industries Added to Investment Partnership
ST. LOUIS —Environmental remediation work has commenced at City Foundry Saint Louis at Cortex, the new name of the former Federal Mogul Foundry property in midtown St. Louis. The proposed mixed-use redevelopment project is being designed and developed by Lawrence Group with significant reuse of the historic structures. The first phase of the overall $340 million project is programmed to include:
- 48,000 square feet of restaurant and food hall space with approximately 20 chef-driven quick serve food stalls and up to four full service restaurants
- 124,000 square feet of creative office space in the City Foundry building complex
- 133,000 square feet of retail space with up to 45 retailers
- New 511-car parking garage plus ample surface spaces
- Connection to the Great Rivers Greenway Trail System
- Amenities including public plaza spaces, bike share, electric recharge stations and dedicated ride sharing drop-off
In addition to the commencement of remediation work on the site, Lawrence Group CEO Steve Smith has announced that Bull Moose Industries has become a major investment partner in the redevelopment. London-based Bull Moose Chairman, the Rt. Hon. Lord Swarj Paul, has continued to grow his investments in St. Louis, adding his partnership in City Foundry to his previous investments in the 634 North Grand building in Grand Center and the acquisition of XL Trailers earlier this year. “This new investment by Lord Paul represents our continued confidence in St. Louis as well as our belief in the exciting vision laid out by Steve Smith for the City Foundry development,” according to Bull Moose CEO Michael Blatz. Eagle Bank is providing the financing for the project.
The National Register of Historic Places nomination for the existing foundry complex was recently approved by the Missouri Advisory Council on Historic Preservation. Building on the region’s reputation as an innovation hub, City Foundry Saint Louis is envisioned as a place where ideas can thrive and where people can get connected and collaborate. The first phase of the car-optional development is expected to create 870 permanent jobs in addition to construction jobs, as well as spur additional development on neighboring properties. Great Rivers Greenway trails will traverse through the site providing a walkable connection between Saint Louis University, Cortex, and Metro stations as well as a pathway to Forest Park. “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,” according to Dennis Lower, CEO of Cortex Innovation Community.
The first phase of the project is scheduled to open in 2018, and future phases call for a 279-unit residential tower; 265,000 square feet of office; and 16,000 square feet of retail. For leasing information, visit www.cityfoundrystl.com. The project team includes:
- 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
- Eagle Bank and Advantage Capital Partners – Financing
About CORTEX: Founded in 2002 through a collaboration between Washington University in St. Louis, BJC Healthcare, the University of Missouri-St. Louis, Saint Louis University, and the Missouri Botanical Garden, the Cortex Innovation Community (CortexSTL.com) is the Midwest’s leading hub of innovation and technology commercialization, serving as the anchor of St. Louis’ growing ecosystem for innovative startup programs and established companies. Cited by the Brookings Institution as a model of an urban innovation district, Cortex is home to more than 200 software and bioscience technology firms, providing a deep pool of entrepreneurial programs that support emerging technology companies and helps to attract established technology firms to St. Louis.