On June 29, 2026, construction officially began at The Point; a 600+ acre master-planned community being built on the former Utah State Prison site in Draper. Governor Spencer Cox, legislative leadership, and three major development partners gathered to break ground on Phase I, a $2.3 billion private investment that represents one of the largest planned communities in Utah's history.
If you own a home in Draper, Lehi, Sandy, South Jordan, or anywhere along the I-15 corridor, this is worth understanding. And if you've been watching Utah County's growth, The Point is the next significant piece of the puzzle.
What's actually being built in Phase I
Three anchor projects define the first wave of construction.
The Mountain America Credit Union Event Center is a 5,000-seat venue, the largest of its kind in the South Salt Lake Valley. This is the kind of anchor that draws traffic and secondary retail to a new development; restaurants, hotels, and service businesses tend to follow a venue like this quickly.
A 363-unit multifamily residential complex with 42,000 square feet of ground-floor retail brings residents and daily foot traffic to the site from day one. The retail component is important: walkable retail at the base of a residential building creates neighborhood character in a way that strip mall development doesn't.
The Promenade is a 2,000-foot walkable street designed as the social core of the entire development; dining, shopping, and gathering space built for people rather than cars. This is the design feature that distinguishes The Point from a generic mixed-use development and signals the kind of place the master plan is actually trying to create.
Beyond the three anchors, the University of Utah and University of Utah Health are purchasing approximately 46 acres within The Point for a future health campus; research space, high-skill employment, and expanded healthcare access. Healthcare anchors at this scale don't show up very often, and they tend to be among the most durable drivers of long term property value in surrounding areas.
The River District: 800 to 900 owner-occupied homes
For anyone tracking housing supply along the Wasatch Front, this is the section that matters most for buyers.
The Point has issued a Request for Statements of Qualifications seeking developers to deliver roughly 50 acres of for-sale housing within the River District; approximately 800 to 900 owner-occupied homes across single family, townhome, and condominium product types, connected to parks, trails, and transit.
New "for sale supply" of this scale is rare. The Wasatch Front has been inventory-constrained for years, and a master-planned community that delivers this many owner-occupied units in a walkable, transit-connected environment is a meaningful addition to what's available. Developer selection is in process, with a mandatory pre-proposal meeting held today, July 16, 2026.
What this means if you're buying in Draper, Sandy, or south Salt Lake County
The Point adds significant amenity value to properties already in the corridor. A 5,000-seat event center, a walkable retail and dining district, and a future University of Utah Health campus are the kinds of infrastructure that reduce the need to drive into Salt Lake City for entertainment, healthcare, and services. For buyers who have been weighing Draper against closer-in neighborhoods, that shift in amenity access matters.
It also adds new supply. The River District's 800 to 900 homes will enter the market over several years and will compete with existing inventory in Draper and nearby cities at whatever price points the developers set. Buyers who are patient have more options coming. Sellers in the immediate corridor should understand the supply picture before setting a listing timeline.
What this means for Utah County specifically
The Point sits at the Point of the Mountain, the boundary between Salt Lake and Utah counties. That location is relevant for Utah County buyers and investors for a specific reason: the development's amenities and employment draw will be accessible from the north end of Utah County without requiring a full Salt Lake City commute.
Lehi, in particular, is already the fastest growing city in the corridor and sits closest to The Point on the Utah County side. The infrastructure investment we've covered previously (the $621 million Lehi freeway-to-freeway connection, the Mountain View Corridor extension) makes the connection between The Point and north Utah County more efficient over time.
For Utah County investors tracking where employment, healthcare, and retail density are building along the Wasatch Front, The Point is the single largest near-term signal on the Salt Lake County side of the line. The economic projections back that signal up. The Kem C. Gardner Policy Institute at the University of Utah forecasts that at full buildout, The Point will generate 46,000 jobs, $4.5 billion in annual earnings, and $7 billion in annual GDP for the state. For investors thinking in terms of a 10-to-20-year corridor play, those numbers put The Point in a category of its own.
Who is building it
Three private development firms are leading Phase I:
Lincoln Property Company leads The Point Partners and brings national large-scale development experience across the United States.
Colmena Group, led by CEO Lance Bullen and headquartered in Salt Lake City, focuses on multifamily, mixed-use, and master-planned investment across the region.
Wadsworth Development Group, founded by Kip Wadsworth, brings a background in major Utah infrastructure and construction projects, including the $1.1 billion I-15 CORE Utah County project.
Together, The Point Partners has over 175 million square feet of combined development valued at more than $125 billion across the country.
The State of Utah retains ownership of the land. Private developers build and operate individual projects. That structure is designed to protect long-term public value while delivering private sector speed; and it's part of why this project moved from planning into vertical construction after more than a decade of work.
The bottom line
The Point is real, it's funded, and it broke ground six weeks ago. For buyers and investors watching the Wasatch Front, the question isn't whether it's happening; it's how it fits into your specific timeline and strategy.
If you're considering a purchase in Draper, Lehi, or anywhere along the I-15 corridor and want to talk through how The Point affects the picture, reach out to Foundry Group. We're happy to walk through what this means for your specific situation.
FAQ
What is The Point development in Draper, Utah?
The Point is a 600-plus acre master-planned community being built on the former Utah State Prison site in Draper, Utah. Phase I broke ground on June 29, 2026, representing a $2.3 billion private investment from development partners Lincoln Property Company, Colmena Group, and Wadsworth Development Group. The State of Utah retains ownership of the land.
What is being built in Phase I of The Point?
Phase I includes a 5,000-seat Mountain America Credit Union Event Center, a 363-unit multifamily residential complex with 42,000 square feet of ground-floor retail, and The Promenade, a 2,000-foot walkable retail and dining street. The University of Utah and University of Utah Health are also purchasing approximately 46 acres for a future health campus.
How many new homes will The Point add to the Utah housing market?
The River District portion of The Point is planned to include approximately 800 to 900 owner-occupied homes, including single-family homes, townhomes, and condominiums, in addition to the 363-unit multifamily complex in Phase I.
How does The Point affect home values in Draper and nearby cities?
Large-scale amenity investment; a major event center, walkable retail, a future University of Utah Health campus — generally supports property values in surrounding areas by adding convenience and drawing employment. The River District's new supply of 800 to 900 homes will also increase inventory in the corridor, which buyers and sellers should both factor into their timing.
Why does The Point matter for Utah County buyers and investors?
The Point sits at the Point of the Mountain, the boundary between Salt Lake and Utah counties, making its amenities and employment accessible from north Utah County without a full Salt Lake City commute. Combined with the infrastructure improvements underway in Lehi and Saratoga Springs, it reinforces the I-15 corridor as the most significant growth zone on the Wasatch Front.
When will the River District homes at The Point be available?
Developer selection for the River District is currently in process, with a mandatory pre-proposal meeting held July 16, 2026. Specific construction timelines will depend on which developers are selected and their build schedules. This is a multi-year buildout rather than near-term inventory.
