March 5, 2020
CapStone Holdings, a business incubator and investment group, took a $40-million stake in Lawrence Group’s City Foundry STL, a food-retail-entertainment-office project set to open this summer in downtown St. Louis.
The holding company represents one of the largest single-entity investors in the $210-million first phase of City Foundry, an adaptive reuse of the former Federal Mogul Foundry complex. The foundry’s open-steel shell will house St. Louis’ first food hall, and anchor a complex including three entertainment venues and office space.
“City Foundry matches our investment criteria in terms of high-growth location, a vision brought to life by established developers and entrepreneurs, and with long-term projected positive returns,” said CapStone’s Keith J. Stone. “The significant buzz that is building among the business community, the excitement among residents and the national attention this and other projects are generating for St. Louis all confirm the factors leading to our partnership in City Foundry.”
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