Newspaper article St Louis Post-Dispatch (MO)

Work Begins on $340 Million Midtown Redevelopment That Will Include Stores, Offices and Food Hall

Newspaper article St Louis Post-Dispatch (MO)

Work Begins on $340 Million Midtown Redevelopment That Will Include Stores, Offices and Food Hall

Article excerpt

Environmental cleanup began this week in midtown St. Louis at the former Federal-Mogul foundry, which the Lawrence Group is redoing as stores, offices and a food hall.

Steve Smith, the Lawrence Group's chief executive, announced the work Thursday and added that Bull Moose Industries will take "a significant ownership interest" in what has grown to as large as a $340 million redevelopment of the 14-acre site.

Bull Moose, a maker of metal tubes mainly for the construction industry, is part of London-based Caparo Group. Chesterfield-based Bull Moose shares ownership of the Missouri Theatre building with the Lawrence Group, which is redoing the structure, at 634 North Grand Boulevard, as a hotel and Bull Moose's new headquarters.

The Lawrence Group's name for the project at the Federal-Mogul site is City Foundry Saint Louis at Cortex. The site on Forest Park Avenue is between Vandeventer and Spring avenues on the north side of Highway 40 (Interstate 64) and east of the Cortex technology district.

Smith praised Swarj Paul, chairman of Bull Moose and founder of Caparo, for Bull Moose's investment in City Foundry. Paul is an Indian-born entrepreneur who holds the aristocratic title Lord Paul of Marylebone.

Michael Blatz, chief executive of Bull Moose, said in a statement, "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."

Smith said the environmental cleanup, aided with $5.6 million in brownfields tax credits from the state, will take six months to complete. Elements of City Foundry's first phase, scheduled to open in 2018, will include:

* About 48,000 square feet of restaurant and food hall space with approximately 20 "chef-driven" food stalls and as many as four full- service restaurants.

* Offices totaling 124,000 square feet of space and as many as 45 retailers in 133,000 square feet of space. …

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