Construction has started on the first vertical phase of The Point, a new mixed-use downtown district planned for 104 acres in Draper. The work is being led by The Point Partners (TPP), a private development team composed of Lincoln Property Company, Colmena Group and Wadsworth Development Group. This initial project is described as the opening step in a broader, multi-phase plan that will ultimately encompass about 600 acres.
The larger vision for The Point includes a full spectrum of uses, with plans for housing, employment centers, retail, restaurants, entertainment, health care, innovation space, parks, trails and public gathering areas. The aim is to create a cohesive district-scale environment rather than a single-property development, with the first vertical buildings setting the framework for future phases across the rest of the site.
The Point is being delivered as a public-private partnership between TPP and the Point of the Mountain State Land Authority, which oversees the site. Under the structure described, Utah retains ownership of the land, while the private team contributes capital, development expertise and execution capabilities. This approach allows the state to maintain long-term control of the property while leveraging private-sector resources to advance planning and construction.
Phase one is supported by a $165 million infrastructure investment authorized by the Utah Legislature, combined with a $2.3 billion private funding commitment from TPP. The public investment is directed to core infrastructure, while the private commitment will finance vertical development and related improvements within the district.
Immediate plans for the first phase feature a 5,000-seat event center, which is described as the largest facility of its kind in the South Salt Lake Valley. Residential components include a 363-unit multifamily community that will integrate 42,000 square feet of ground-floor retail space. These elements are intended to activate the district early by introducing both residential population and destination-oriented uses.
As activity begins on the first buildings, the project marks a transition from planning to implementation for The Point, with physical construction now underway on a long-range, multi-phase mixed-use district conceived to deliver new housing, employment and amenity options in Draper.
