Father and Son See Eye-to-Eye
Written By Craig Kaminer
St. Louis is certainly known for its family businesses, but few ever make it to the third or fourth generation -- often because of their success. The next generation often have the financial freedom and intellectual curiosity to start something new and leave the family business to professional management, repair the world with a nonprofit, or do nothing. What makes this father and son story so interesting is that without the pandemic, the Smith story may have ended this way too. Instead Steve Smith, 64, and his son Will Smith, 28, have started a new business together built on the Smiths’ multi-generation entrepreneurial spirit in architecture, construction, contracting, and real estate. Steve’s success as an architect and principal of Lawrence Group, with dozens of successful real estate ventures and a passion for St. Louis, could have been the end of the line. But as luck would have it, the timing is perfect for Will to place St. Louis at the top of his list of places he wants to help grow. And together, Steve and Will are betting that others feel the same.
Steve has always been ahead of his time. He grew his firm, Lawrence Group, downtown while others were heading west. He invested time and money in historic rehab when it was fashionable to do so and while it wasn’t. He embraced contemporary design long before the city caught up with him. He has contributed to the revitalization of Downtown, Midtown, and Grand Center, with impressive redevelopments including Park Pacific, Grand Center Arts Academy, The Sun Theater, The Angad Art Hotel, Hotel Ignacio, The Moto Museum, and dozens of projects in between. He seems like a visionary now as billions of dollars are pouring into Downtown, Downtown West, North City, Cortex, and Loop East. He has been doing it longer than most -- during the boom and the bust -- and as a result of a behind-the-scenes tour of City Foundry, his most creative work is yet to come.
Will, who graduated from John Burroughs School in 2011, complements his dad’s architecture background with an engineering degree from Georgia Tech, a master’s degree in urban planning from the University of Pennsylvania, and an MBA from Wharton. His original plan was to do great things in New York, Chicago, or Philadelphia. Steve remarked proudly, “I have a capable son, but having him join the firm was never part of my plan.” According to Will, “I always thought there may be a role (someday), but there was a lot about St. Louis that didn’t excite me. I always heard St. Louis is great for families, but I don’t have one. Ironically, beginning in March 2020 at the start of the pandemic, I spent more time here and learned so much more about St. Louis. There is a lot of great stuff happening here with lots of potential. And I realized I could work with my dad, grow what he has already built, help lead in a new direction, and join at a level I couldn’t somewhere else.”
While Will recently made his commitment to join his dad and focus on St. Louis, the seeds were planted subtly when he graduated from Georgia Tech. After graduation day in May 2015, the entire Smith family went to see Krog Street Market in Atlanta (developed by the acclaimed Asana Partners) with its much talked about food hall. “We saw that the place had an electric vibe, with an eclectic mix of people, pets, babies, and really interesting food concepts. We looked at each other and said, ‘This is the kind of energy we need in St. Louis,’” Will recalls.
Steve immediately thought that the old Federal Mogul (automotive parts manufacturing) site on Forest Park Parkway, just east of Cortex and a short walk from Saint Louis University, would make a perfect location for a mixed-use project like Krog Street Market. When he got back to town, he immediately visited the Federal Mogul site and discovered that it had a “for sale” sign on it. Not willing to wait, Steve approached the security booth and asked if he could look around. He was given a stern but polite “no” and warned that the site was not safe for a self-guided tour. Not easily dissuaded, Steve drove around the block and snuck in. With an uncanny ability to see the potential in this very rough parcel of land which had been vacant for many years, Steve remembers saying to himself, “This could be so cool and be something totally unique for St. Louis.” Most of us would have seen a site ready to be blighted and cleared away for something new.
Nearly 100 years ago, on the site of City Foundry STL, the Century Electric company forged some of the first motors -- sparking a brand new industry and a culture of innovation and creativity in St. Louis. With City Foundry STL, the Smith’s honor this legacy as well as the people in our city who keep that spirit alive today.
What started in Atlanta led Steve and Will to brainstorm how St. Louis could compete with Indianapolis, Austin, Nashville, Pittsburgh, and other cities who have successfully rebuilt their inner cores. With Cortex, $8 billion of new investment in the Central Corridor, expansion of SLU, and the new MLS team and soccer stadium and certainty that more projects would be forthcoming, Steve and Will started working on their plan for New + Found, forming a family of companies consisting of an architectural firm, construction management, real estate, and development...with Will playing a major role. “We’re looking at real estate solutions and value creation in a way many real estate owners can’t.”
The 15-acre five-phase City Foundry project will open in mid-2021 consisting of one-third office space, one-third food and entertainment, and one-third housing. Seemingly an intersection of the High Line in New York, Wynwood Walls in Miami, and Krog Street Market, the first phase will include the food hall, a movie theater, social games, a biergarten, concert venue, speakeasy and healthy foods grocery store. Over the following 18 months there will be multiple openings, plus market-rate housing with 282 apartments a short walk or bike ride from SLU, Cortex, Grand Center, Midtown, or Downtown. The goal is to create a new urban environment with energy, entrepreneurship, and life from sunrise to well past sunset like Krog Market. According to Steve, “That’s just the beginning.” And if anyone is going to do this successfully in St. Louis, put your money on The Smiths.
Boldly stated, New + Found is developing for tomorrow’s world and making places for people -- especially our kids -- and communities. Like the Federal Mogul site, the Smiths are taking what they found -- often overlooked and undervalued -- and developing newness. “We’re builders, constructors, developers, owners, investors, and project managers creating value and building community,” Steve says.
From Will’s vantage point, “Both of my parents taught me from a young age to be grateful for everything we have. Not just proclaiming my gratitude, but always giving something back. I am well aware that I have had a blessed and a privileged life. I always saw my dad’s purpose as giving back. I even thought about the military (as a way of giving back), but in the end I decided there’s nothing that I want to give more to than this city.”
Perhaps it’s the competitive father and son spirit that motivated them to take on a project that has previously eluded our city, but now seems within reach. “On a national scene, St. Louis has been overlooked for too long. This is a very exciting time for St. Louis. Our innovation communities in agriculture, bio science, locations sciences, financial technology, and start-ups are driving national accolades. It’s time we elevate ourselves. We have the opportunity to completely change the St. Louis brand around the country,” Steve concludes. “We can complain about our city or we can do something about it.”
So on the heels of some of our greatest visionaries, leaders, believers, and dreamers, Steve and Will are destined to create a refreshed St. Louis, designed to be new and found for St. Louisans re-energized by their civic pride as well as a new generation seeking a city of opportunity.