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ST. LOUIS, Dec. 6, 2023 ~ CapStone Holdings, Inc. has provided an update on its investment in City Foundry STL, a mixed-use development in Midtown St. Louis, Missouri. CapStone Holdings, a self-funded family office business incubator and investment group, invested $40 million in City Foundry in 2020, making it one of the largest single-entity investors in the $210 million first phase.

City Foundry is a dynamic property that combines food, retail, entertainment, and office spaces. Spanning 9 acres and home to over 18 bars and restaurants as well as local, regional, and national food, retail, and entertainment brands such as Fresh Thyme Market, Hello Poke, iHeart Radio, Press Waffle Co., Alamo Drafthouse Cinema, City Winery, Puttshack and TruFusion Fitness. The opening of City Foundry was delayed due to the COVID-19 pandemic until August 2021 but since then it has served over 75000 customers per month with over 10500 customers during its grand opening week.

Ashley Beal from CapStone Holdings said "City Foundry is very well on its way to surpassing financial expectations. Through this profound partnership we have come to appreciate the efforts of the Lawrence Group and its CEO Steve Smith. The entire team has been exceptional to work with on several fronts. The future is bright for City Foundry and St. Louis"

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Steve Smith also recognized CapStone Holdings' support saying "We are pleased to report multiple success stories since opening and aim to maintain that as the partnership persists"

City Foundry is part of over $8 billion in new investment in St. Louis including the Cortex Innovation Community District with 39% minority-and women-owned businesses as well as a construction workforce that was 22% minorities and women creating an estimated 1 500 jobs during construction with 800 more since its opening. The second phase development which will feature a 14-story 272-unit high rise apartment complex 25 000 square feet of retail space and a multi level 481 car parking structure is currently underway with CapStone Holdings investing $75 million globally into real estate automation transportation shipping technology scientific & staffing advancement in healthcare & alternative medicine

For more information about City Foundry STL visit here or follow them on Facebook or Instagram for updates on progress or visit capstoneholdingsinc.com/portfolio for more information about their investments
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