The Next Phase of City Foundry: Two Foundry Way
Rendering courtesy of Lawrence Group.
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ST. LOUIS, Mo. (First Alert 4) - The Foundry has rapidly grown as a live, work and play destination in Midtown. Now its owner plans to break ground on more than 80,000 sq. ft. of new office space.
The building will be constructed using mass timber — a method involving the layering of lumber for high strength and fire resistance. Steve Smith, co-founder of New and Found, the company behind the project, said it would be the first mass timber office building in St. Louis.
City Foundry STL currently houses nearly 20 local food vendors and attractions, including Puttshack, Alamo Drafthouse and the Museum of Illusions, along with retail, residential and office space. Smith said the development already has 100,000 square feet of occupied office space.
A second phase of the project — 270 apartments adjacent to the main complex — is also underway. Smith said 220 of those units are occupied and expects the building to be fully leased by the end of summer.
“It’s become a tremendous regional, and quite frankly, national destination for people,” Smith said.
Smith said the choice of mass timber for the new office building was driven by a desire to differentiate the project and align with sustainability goals.
“When it came to thinking about the office building, we wanted something that was different, forward thinking and unique to St. Louis,” Smith said. “It’s more environmentally friendly, made out of wood and is a much more warm and inviting environment for bringing people back into the office space.”
On the question of office demand, Smith said he expects employers to drive a return to in-person work and that proximity to amenities will be a factor.
“We have all these amenities at City Foundry and we have been successful with office space, and we think this will be successful,” he said.
Smith, who described himself as a fourth-generation St. Louisan, said his focus on city development is intentional and personal.
“I love this city. It’s been good to me and my family. We have tremendous assets that aren’t appreciated and that’s going to change. We’re going to rewrite that narrative,” Smith said.
He acknowledged crime statistics as a persistent challenge for the region’s perception, noting that the separation of St. Louis City and county affects how those numbers compare to other metro areas nationally.
Smith pointed to neighborhoods including Shaw, Botanical Heights and the Grove as examples of areas that have changed over time and said he expects similar growth in other parts of the city.
“What happens over time is you build on strength, and the strength grows,” he said.