In this episode, Raj Tut sits 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. Steve and Raj 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.
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