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A partnership led by Lawrence Group principal Steve Smith will spend about $35 million redeveloping the historic Marquette Building downtown into 140 apartments and retail space.
TLG Marquette LLC, a partnership formed by Smith and five other Lawrence Group principals, bought the building March 12 from the YMCA of Greater St. Louis for $4.9 million. The purchase is being financed by the YMCA for 40 years. The organization, which operates a health club in the building, "I continue to pay market-rate rent, but the rent will be offset...