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The former Federal Mogul Foundry property in midtown St. Louis is set to become the City Foundry Saint Louis at Cortex.
Former Federal Mogul Foundry to Have New Life in Midtown St. Louis
ST. LOUIS, MO, (SLFP.com), September 25, 2016 - Environmental remediation work is underway at City Foundry Saint Louis at Cortex, the new name of the former Federal Mogul Foundry property in midtown St. Louis, just east of IKEA.
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:
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.
- 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
- Amenities including public plaza spaces, bike share, electric recharge stations and dedicated ride sharing drop-off
"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.
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," said 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
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