EPISODE · Mar 24, 2026 · 1H 2M
Why Cities Rise or Fall Based on Their Downtown with Steve Smith, Co-Founder at Lawrence Group
from T.U.T — The Unwritten Teachings · host Raj Tut
In this episode, I sit down with Steve Smith, co-founder of Lawrence Group and founder of New + Found. Steve started Lawrence Group in 1983 in the attic of his home with just a few hundred dollars and a vision of building what he once called the “super firm” — a company that designs, builds, develops, and owns real estate. Over four decades, that vision has grown into a vertically integrated organization operating across architecture, development, construction, and hospitality.We talk about the mindset behind transformative real estate, including how Steve nearly went bankrupt on his first development, why he believes developers should lead change instead of chasing trends, and how the idea for City Foundry STL was born during a visit to Krog Street Market. We also break down the financing behind one of the most complex real estate deals in the country, how historic tax credits helped unlock massive redevelopment, and why investing in downtown St. Louis remains a mission larger than profit.Connect with our guest:Twitter: twitter.com/ItsRajTutLinkedIn: https://www.linkedin.com/in/rajtut/Instagram: instagram.com/ItsRajTutTikTok: https://www.tiktok.com/@itsrajtutConnect with our guestLinkedIn: https://www.linkedin.com/in/steve-smith-faiaLawrence Group: https://thelawrencegroup.comNew + Found: https://newandfound.com Timestamps for Key Segments00:00 The moment City Foundry was conceived02:15 Introducing Steve Smith and Lawrence Group04:19 Growing up in an entrepreneurial household05:07 Deciding to become an architect at age 1006:07 Starting Lawrence Group with $7,50009:01 The failed development that nearly ended everything13:00 Rebuilding the architecture firm and delaying development16:06 The motorcycle museum that sparked new development21:00 Learning historic tax credits and adaptive reuse24:34 Creating markets instead of following comps27:54 Studying other cities to inspire developments29:27 The origin story of City Foundry STL35:04 Environmental cleanup and the brownfield strategy44:05 Financing one of the most complex deals in the country48:54 Measuring success beyond financial return52:16 Why Steve keeps investing in downtown St. Louis55:02 Staying calm during crises and downturnsThis podcast is brought to you by Storyboard Living.If you're looking to sell us a 40+ unit multifamily property in the St. Louis region, or another part of MO/IL, please email [email protected] with us at our Website: https://storyboardliving.com/LinkedIn profile: https://www.linkedin.com/company/storyboard-living/
What this episode covers
In this episode, I sit down with Steve Smith, co-founder of Lawrence Group and founder of New + Found. Steve started Lawrence Group in 1983 in the attic of his home with just a few hundred dollars and a vision of building what he once called the “super firm” — a company that designs, builds, develops, and owns real estate. Over four decades, that vision has grown into a vertically integrated organization operating across architecture, development, construction, and hospitality.We talk about the mindset behind transformative real estate, including how Steve nearly went bankrupt on his first development, why he believes developers should lead change instead of chasing trends, and how the idea for City Foundry STL was born during a visit to Krog Street Market. We also break down the financing behind one of the most complex real estate deals in the country, how historic tax credits helped unlock massive redevelopment, and why investing in downtown St. Louis remains a mission larger than profit.Connect with our guest:Twitter: twitter.com/ItsRajTutLinkedIn: https://www.linkedin.com/in/rajtut/Instagram: instagram.com/ItsRajTutTikTok: https://www.tiktok.com/@itsrajtutConnect with our guestLinkedIn: https://www.linkedin.com/in/steve-smith-faiaLawrence Group: https://thelawrencegroup.comNew + Found: https://newandfound.com Timestamps for Key Segments00:00 The moment City Foundry was conceived02:15 Introducing Steve Smith and Lawrence Group04:19 Growing up in an entrepreneurial household05:07 Deciding to become an architect at age 1006:07 Starting Lawrence Group with $7,50009:01 The failed development that nearly ended everything13:00 Rebuilding the architecture firm and delaying development16:06 The motorcycle museum that sparked new development21:00 Learning historic tax credits and adaptive reuse24:34 Creating markets instead of following comps27:54 Studying other cities to inspire developments29:27 The origin story of City Foundry STL35:04 Environmental cleanup and the brownfield strategy44:05 Financing one of the most complex deals in the country48:54 Measuring success beyond financial return52:16 Why Steve keeps investing in downtown St. Louis55:02 Staying calm during crises and downturnsThis podcast is brought to you by Storyboard Living.If you're looking to sell us a 40+ unit multifamily property in the St. Louis region, or another part of MO/IL, please email [email protected] with us at our Website: https://storyboardliving.com/LinkedIn profile: https://www.linkedin.com/company/storyboard-living/
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Why Cities Rise or Fall Based on Their Downtown with Steve Smith, Co-Founder at Lawrence Group
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