ST. LOUIS — Construction of the first apartments at City Foundry STL will start in January, the developer announced this week.
Apartments have long been in the works for the redevelopment of the former Federal-Mogul site. The first phase featured a food hall, Fresh Thyme Market and other retail and office space. Alamo Drafthouse movie theater and mini-golf venue Puttshack are slated to open next year.
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The second, $125 million phase will feature a 14-story tower with 272 apartments. Also planned are an 83,000-square-foot office building, 25,000 square feet of retail space and a 481-car parking garage.
Developer New + Found expects the project to finish by early 2024, according to a release.
New + Found contributed $1.8 million to the city’s Affordable Housing Trust Fund in order to secure incentives for the second phase. The city ultimately agreed to $18 million tax increment financing.
Steve Smith, principal of New + Found, is partnering with London-based industrialist Swraj Paul on the second phase. The pair have previously partnered on Angad Arts Hotel, named after Paul’s late son, in the Grand Center neighborhood, as well as the $300 million first phase of City Foundry.
Greater St. Louis Inc., the region’s business group, also is in an investor.
Lawrence Group is the lead architect for the project. ARCO/Murray will construct the apartment building while Lawrence Group’s construction team will build the office building. Lawrence Group officials said the office building, constructed entirely out of wood, will be St. Louis’ first mass timber building.
