Brice Wallace
A “15-minute city,” The Point will have The Hub that will have The Focal Point.
That may seem like gobbledygook, but it’s actually code words used to describe characteristics of The Point, an innovation hub that will rise on 600 acres of state-owned property at the former Utah State Prison site at Point of the Mountain in Draper.{mprestriction ids="1,3"}
The Point’s top officials gathered recently to announce the development partners for the Phase I central core of the development, dubbed The Hub. Innovation Point Partners, led by Lincoln Property Co. of Dallas and with local partners Colmena Group of Salt Lake City and Wadsworth Development Group of Draper, will develop the site based on preferences spelled out in previously gathered public input.
“We know this is important,” Alan Matheson, executive director of The Point, said at a news conference announcing the selection. “These are the folks that are going to help implement the vision.”
In announcing the selection, The Point of the Mountain State Land Authority called The Point “the country’s most significant development opportunity in modern history.”
Matheson said that among the criteria in making the choice was ensuring the selected firm “meets the key vision elements” of the site. They include having a vibrant, mixed-use community, future-focused transportation, long-term economic development, innovation “to help us solve our problems here and create new businesses,” sustainability and working with nearby communities “to make sure that this public project benefits all of us.”
The authority started the bidding process in December, and a dozen firms initially submitted responses. The field eventually was narrowed to three finalists: Catellus Development Corp., Boyer-Gardner and Lincoln-Colmena-Wadsworth.
“The Point represents the single largest development site in the country in recent years,” Abbey Ehman, vice president at Lincoln Property Co. and spokesperson for the collective team, said in a prepared statement. “Lincoln and our partners are honored that the land authority has chosen our team to deliver an innovative, community-centric development that leverages sustainable, transit-oriented solutions and celebrates the area’s natural beauty and wealth of outdoor opportunities. We are committed to Utah for the long term and look forward to strengthening our relationships in the community.”
Lincoln Property Co. was founded in 1965 and is a privately owned real estate firm offering a full-service platform that includes real estate investment, development, construction management, property management, leasing, asset management and accounting services. It has offices in the U.S. and Europe. It has produced over 150 million square feet of commercial space and over 225,000 multifamily residential units.
Founded in 2008, Colmena Group is a privately held real estate development and investment company. Its portfolio includes multifamily, assisted living, commercial office, student housing, research parks, retail, hotel, industrial warehouses and mixed-use properties. It has developed and invested in real estate projects that built a current portfolio value of more than $1.6 billion.
Wadsworth Development Group was founded in 1996 as a vehicle for alternative investments from civil construction company Ralph L Wadsworth Construction Co. It now is a full-service commercial real estate development and management firm that owns and manages multiple platforms, including Alpha Development Group, Roots Management Co. and the Salt Lake City Global Logistics Park.
The Point is seen as a catalyst for development of several thousand acres of undeveloped land in nearby communities, and The Hub will be catalyst for The Point, Matheson said.
“It has elements that represent what the public said they wanted. It’s is kind of a microcosm of the broader project,” he said, noting it will have retail, entertainment, dining, public gathering, residential and office elements.
The Point officials also have described the site as a “15-minute” city, enabling people to walk or bicycle from one place to another quickly.
The Hub also will contain The Focal Point, an iconic, defining feature — “something that just stands out, that helps tie in your mind that area,” Matheson said. Ideas from the public will be accepted through August at bit.ly/focalpointsurvey, and Matheson said options include architecture, landscape art and sculpture. The goal, he said, is to “eventually get something that I think all of us in Utah will say, ‘That represents us.’”
State Rep. Lowry Snow, R-St. George, and co-chair of the land authority, said input from the public has already given the authority “a sense of what should be developed and what The Point should be about.” That includes high-quality jobs, strategic growth, high quality of live, parks, connected trails, open space, recreational opportunities, enhanced mobility and environmental protection.
Jefferson Moss, in charge of the Innovation District at The Point, said the district will be a gathering place for higher education institutions, allowing industry representatives to sit next to researchers sitting next to policymakers to form “a strong entrepreneurial ecosystem” to help solve society’s problems.
“The project itself is very innovative,” Moss said. “There’s so many innovative features that are part of it. But really at that epicenter is going to be this Innovation District, This is going to be something that will help to drive economic development for many generations, we hope, as we move forward.”
“It’s not just about the present economic development,” Snow said. “It’s also about making sure that we give opportunities to our young people and make sure that it’s a place for intersection of education and also innovation, and to also help solve some of those existing challenges that are in that region.”
“We have amazing opportunity,” said Draper Mayor Troy Walker. “Companies are going to come here. This is a place to do business.”
Catherine Kanter, deputy mayor of regional operations for Salt Lake County, noted that the “framework plan” for The Point came after market analysis, data collection and input from more than 10,000 Utahns.
“Among the many regional economic and technology centers across the United States, Salt Lake County will now be positioned as a growth center,” Kanter said. “We will combine community development with economic development, which in turn will really serve as a shining example of how you can merge place and economy. Businesses, residents and workers will all function and prosper in an intentionally designed environment that is built for success.”{/mprestriction}
