Jul 13, 2022 - Real Estate

Utah leaders name The Point's developer partner

A proposed render of The Point in Draper.
Courtesy of The Point of the Mountain State Land Authority.

Utah leaders revealed the developer partner Tuesday for The Point, the 600 acres of state-owned land in Draper where the Utah State Prison has sat since the 1950s.

  • The Point of the Mountain State Land Authority chose the development group Lincoln-Colmena-Wadsworth to lead the first phase of the project's development.

Why it matters: The Point, a mixed-use development project considered one of the largest of its kind in state history, is projected to create tens of thousands of jobs and establish a major economic hub in Salt Lake County.

  • It will also be located just a few miles north of Silicon Slopes — the state's burgeoning tech community in Lehi.

Details: The Lincoln Property Company is based in Dallas, and the Colmena Group and Wadsworth Development Group are based in Utah.

  • The framework plan includes splitting The Point into seven distinct districts.
  • It will be designed as a walkable "15-minute city" with residential, commercial, office and entertainment spaces.
  • Parks, trails and open space will make up a quarter of The Point.

What they're saying: It's one of the great economic and quality-of-life opportunities in the history of our state," said Alan Matheson, the executive director of the Point of the Mountain State Land Authority. He spoke yesterday at the Utah Capitol.

  • He said it will be a space that "will accommodate people from all walks of life."

Between the lines: With the state projected to nearly double its population by 2060, Utah leaders have argued more mixed-used developments are needed.

Meanwhile, the demolition of the Utah State Prison will soon commence.

  • It will relocate to a new $1.05 billion facility five miles west of the Salt Lake City International Airport.

What's next: Project leaders are asking the public for input on an iconic feature for The Point.

  • You can take the 5-minute survey here. It closes on Aug. 31.

Our editor Ross' thought bubble: Please pick something that makes more sense than the massive contraption outside the aquarium.

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