In the four years since City Foundry first opened its doors, the Midtown attraction is growing into a significant tax generator for the city.
Data collected by its backers shows total visits and sales within its community improvement district growing. Both the first and second quarters of 2025 posted year-over-year increases in visits and sales, with April through June posting a 9.1 percent jump in visits to 597,600 and total sales growing nearly 6 percent to just shy of $15 million compared to the same period in 2024.
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Foot traffic from January through August this year is up 6.5 percent to 1.6 million visitors compared to the same time period in 2024, and year-to-date sales are up 6.3 percent compared to 2024, to nearly $29 million. The third quarter CID sales have yet to be reported.
“It’s been exciting to see how St. Louis embraces it,” says Steve Smith, founder and CEO New + Found, the developer behind City Foundry. He estimates more than two million people visit annually as it becomes better known outside the city limits. Smith says this is evident in visitor data.
“There’s no question we pull people from St. Charles, from Jefferson County and from the East Side,” he says. “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.”
Why It Matters: The Foundry development has transformed a former empty factory in Midtown St. Louis into an activity hub.
“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, where you have food, entertainment, office, residential, free parking,” Smith says. “We want to build on that strength.”
The development is now 94 percent leased, and residences at One Foundry Way and The Marshall have “several hundred people living there” now, he adds.
What’s Next: Smith has plans to develop around the Foundry campus, including the old Falstaff brewery building east of the Fresh Thyme grocery store. He says the specifics of that project will be shared later, though he confirmed it would be primarily a retail use. On top of that, the Foundry is leaning into more active programming. That includes the Live Art Market every Wednesday in October and other specially themed events. He says they’re looking to add more “‘fun things” on a programming level.
And longer term, Smith sees the Foundry campus expanding over the next decade, with property to the east and west available to develop, Smith says. “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.”
Hear more from Steve Smith on The 314 Podcast.
