City Foundry St. Louis Continues Growth as Sales and Visits Rise in 2025
City Foundry STL surpasses $29 million in first-half sales, marking continued momentum for CapStone Holdings-backed redevelopment in Midtown St. Louis.
CapStone Holdings, Inc., an investment partner in the transformative City Foundry STL redevelopment, is proud to highlight continued momentum for the Midtown St. Louis destination — as recently reported by St. Louis Magazine. The publication noted that through the first half of 2025, City Foundry recorded strong growth in both sales and visitor traffic, underscoring its role as one of the region’s leading urban revitalization projects.
Outside the City Foundry's food hall.
According to data from its community improvement district, City Foundry generated nearly $29 million in sales during the first and second quarters of 2025, a 6.3 percent increase over the same period in 2024. Foot traffic from April through June climbed 9.1 percent to nearly 600,000 visitors, contributing to year-to-date visits of 1.6 million — up 6.5 percent from 2024.
“It’s been exciting to see how St. Louis embraces it,” said Steve Smith, founder and CEO of New + Found, the developer behind City Foundry, in an interview with St. Louis Magazine. “There’s no question we pull people from St. Charles, from Jefferson County and from the East Side. But we also are substantially growing our tourist visits, especially during the summertime. People are starting to learn nationwide that City Foundry is a place to see when you come to St. Louis.”
Once an abandoned industrial property, City Foundry has become a thriving mixed-use community that combines dining, entertainment, retail, residential, and office space. Its ongoing success has transformed Midtown into a key economic engine for St. Louis, generating millions in new tax revenue and attracting visitors from across the region and beyond.
“From a site that generated zero sales five years ago to almost $70 million this year, the Foundry development has supercharged Midtown as a regional destination,” Smith told St. Louis Magazine. “We want to build on that strength.”
Today, City Foundry is 94 percent leased, with hundreds of residents now living in its adjoining residential communities, One Foundry Way and The Marshall. Smith also noted plans for future expansion, including redevelopment of the nearby Falstaff brewery building, expected to introduce additional retail space and community programming.
City Foundry continues to expand its events calendar, hosting the Live Art Market every Wednesday in October along with a range of themed experiences that reinforce its reputation as a vibrant cultural destination.
Looking ahead, Smith envisions a decade of growth: “With the success of One Foundry Way, I would absolutely imagine that we’ll be adding more housing over the years. We also would expect to create more retail opportunity and density.”
Portions of this article and select quotes were originally published by St. Louis Magazine in “City Foundry visits and tax receipts keep ticking up.” Content used with attribution.