|  | | EXECUTIVE DIRECTOR MESSAGE |  | Alan Matheson is the executive director of The Point. |
This year has been pivotal for the Point of the Mountain State Land Authority (Land Authority). Thank you for following our progress and supporting the vision for this project. I am personally grateful for the board, staff, partners, and contributors who have played a role in preparing for successful development at The Point.
Last month, we signed the development agreement with our private-sector development partner and announced Phase I Development at The Point. The Land Authority continues to work closely with the Utah Division of Facilities Construction and Management (DFCM) to lay the groundwork. This includes extensive planning for roads, water, utilities, and telecommunications. This year also marked the completion of demolition at the site where we recycled an impressive 70% of materials, much of which will be reused on site. We anticipate the construction of critical backbone infrastructure to begin as early as spring 2024.
In addition to working with our development partner and DFCM, we have worked with the Utah Department of Transportation (UDOT) and the Utah Transit Authority (UTA) to ensure The Point is accessible to all Utahns. With that goal in mind, UDOT and UTA have identified a practical, phased approach to transit service that promotes funding flexibility and transit-oriented development. This approach helps to address immediate transit needs while planning for the future.
Planning for the future in the Startup State also means that the State of Utah is strategically investing in technologies that will help to solve some of Utah’s biggest challenges. This is evidenced by the Governor’s recent news conference highlighting the Utah Innovation Fund, which is closely tied with the Innovation District’s future activities at The Point. | | LAYING THE GROUNDWORK |  | Map depicting regional roads planned for construction in 2024-2025. | With the release of the Phase I Development Plans, the Land Authority is moving forward in earnest to build the critical backbone infrastructure for The Point. This infrastructure will quite literally lay the groundwork for future development, help to meet regional transportation needs, catalyze economic opportunity, and maximize taxpayers' return on investment.
In 2022 and 2023, the Utah State Legislature appropriated a total of $165 million to pay for this critical infrastructure. The funding is a loan that will be paid back with interest from revenue generated by future ground leases as development advances at The Point.
Major infrastructure projects will extend Porter Rockwell Boulevard, construct most of the “River-to-Range” regional trail, and install major utilities such as power, water, sewer, storm drain, and telecommunications. DFCM is overseeing infrastructure installation. Design is currently underway, and construction is anticipated to start as early as spring 2024. | | |  | | PEOPLE-FOCUSED DESIGN |  | Preliminary landscaping plans for the River-to-Range regional trail and linear park | The River to Range is a 1.4-mile paved regional trail that will connect the Jordan River Parkway Trail to the west with the foothills of Draper’s Corner Canyon to the east. For residents, employees, and visitors, the River to Range will encourage healthy living, provide recreational opportunities, offer an active way to commute to work, and establish a critical transit connection.
The River to Range is also a linear park, providing a natural system for responsible rainwater management and the restoration of ecological habitats for native plants and animals. The park will also be a place for family-centered recreational amenities such as playgrounds, dog runs, and lawns. Programmed activities such as yoga and group fitness classes are also anticipated for the area.
The River to Range trail will be paved through The Point as part of Phase I Development, with landscaping concentrated at the center of the site where development will occur first. | | | SOLVING UTAH’S CHALLENGES |  | From left to right: Convoy Ventures Reuben Holdaway, 3Helix CEO Mike Kirkness, Inherent BioSciences CEO Andy Olson, World Trade Center Chief Operations Officer David Carlebach, Eden Tech Founder Hunter Manz, Utah Innovation Fund Board Member Cydni Tetro, State Representative Jeff Stenquist, Utah Governor Spencer Cox, Utah Innovation Fund Managing Director Gabi Tellez, Utah Innovation Fund Managing Director and Board Chair Jefferson Moss, Utah Innovation Fund Analyst Daniel Coleman, Utah Innovation Fund Board Member Barclay Burns, The Point Innovation District Project Coordinator Tori Hooper, Utah Innovation Fund Board Member Mark Paul, Utah Innovation Fund Board Member Christian Iverson. | The Utah Innovation Fund was created to elevate Utah's economy through the commercialization of technologies discovered, advanced, and/or developed at Utah's higher education institutions. Their mission is to support and fund promising startups developing innovative solutions to Utah’s most pressing problems. The Utah Innovation Fund can invest in technologies being developed at all universities and colleges in the Utah System of Higher Education. Their offices will be located at The Point Innovation District as part of Phase I Development.
“The Utah Innovation Fund is a nation-leading effort to invest in Utah startups that are pushing the boundaries of what is possible. We provide needed connections for these companies, including investment capital and support services that help to catalyze their business and commercialize their product,” said Utah Innovation Fund Managing Director Jefferson Moss. “While taxpayer money is not used for these investments, it’s Utah taxpayers who stand to benefit from it. It’s the best of both worlds.”
House Bill 42 Technology Commercialization Amendments sponsored by State Representative Jeffrey Stenquist and State Senator Ann Millner, created the Utah Innovation Fund. The Fund has already invested in several promising Utah-based startups pioneering cutting-edge technologies. These companies and their technologies were recently highlighted in a press conference hosted by Governor Spencer Cox at the Utah State Capitol. They include inventions that help to diagnose and treat complex diseases, bind damaged collagen, and desalinate brackish or ocean water.
"The way we measure success and the way we're thinking about this fund, is a focus on solving big, impactful problems. We're looking at a long time horizon,” said Utah Innovation Fund Managing Director Gabi Tellez. “We're hopeful that in 10 to 12 years that we can look at money that has been returned from any of these companies go back into the Fund. We want to have a fund that's self-sustaining—an evergreen Fund. But our focus is on impact and problem solving." | |  | | POINT OF THE MOUNTAIN TRANSIT |  | Map showing the Phase I solution for transit at The Point. | The Utah Department of Transportation, in close collaboration with the Utah Transit Authority, has selected a phased approach for the Point of the Mountain Transit Project.
During Phase 1, Dedicated Shuttles and other components of Innovative Mobility Zones (IMZs) will be provided to help the region grow into a future fixed guideway system in Phase 2. Pending an environmental review, it is anticipated that Light Rail Transit (LRT) would be selected as the preferred mode for Phase 2 of the POM Transit Project.
This phased approach will help to support funding flexibility and transit-oriented development, and to align transit infrastructure with transportation needs. For more information, please read the mode summary and updated Transit Study. | | | DEVELOPMENT PROPOSALS |  | The Land Authority has selected Innovation Point Partners as the master developer for Phase I of The Point. Innovation Point Partners will oversee all development aspects of Phase I. The Land Authority anticipates that third parties may propose projects outside of Phase I and has established a process to review these proposals. To learn more, visit our website at thepointutah.org/proposals. | | | IN THE NEWS |  | | | | CONTACT US |  | | | | | Copyright (C) 2024 The Point, All rights reserved
Our mailing address is:
P.O. Box 692
Draper, Utah 84020
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