The Point Partners—a consortium comprising Lincoln Property Company, Colmena Group, and Wadsworth Development Group—is leading the development of the site. Supported by a $165 million infrastructure investment from the Utah Legislature and a $2.3 billion private funding commitment, the project seeks to convert state-owned land into a high-density hub for housing, retail, and innovation. Governor Spencer Cox attended the ceremony, framing the development as a critical investment in the state’s long-term growth and competitive edge.

Work is currently centered on the downtown district, which will feature a 5,000-seat event center renamed the Mountain America Event Center, a 363-unit residential complex, and a 2,000-foot pedestrian thoroughfare dubbed The Promenade. Oak View Group will manage the venue, which is intended to anchor the area’s entertainment offerings. Beyond immediate construction, the site is slated to house a University of Utah Health campus, positioning the district as a center for both healthcare and regional commerce. The ultimate vision spans 600 acres, designed to integrate public spaces and employment centers into a walkable, mixed-use environment.