Development partner selected to build America’s newest city in 15 minutes
The country’s biggest development opportunity in modern history selects a partner
DRAPER, Utah, July 12, 2022 /PRNewswire/ — The Point of the Mountain State Land Authority (Land Authority) has selected Lincoln Property Company (lincoln), a leading national developer, and their local partners, Colmena Group (Colmena) and Wadsworth Development Group (Wadsworth), to execute the first phase of development at The Point in Draper, Utah. The announcement comes after a months-long competitive selection process to identify a partner with demonstrable experience building sustainable communities at scale.
lincoln and its partners (Lincoln-Colmena-Wadsworth) bring decades of experience in developing cutting-edge transformative projects centered on the culture and values of the communities they serve. By taking advantage of Lincoln National development expertise and by tapping into the team’s critical local relationships and knowledge, Lincoln-Colmena-Wadsworth will deliver dynamic development that meets the needs of the community for generations to come.
“Through a rigorous competitive process that engaged qualified companies from across the country, Lincoln-Colmena-Wadsworth has risen to the top as the partner that will build what Utahns say they want on the site,” said Alan Matheson, executive director of Point. “Their extensive experience, technical expertise and passion for Utah uniquely positions them to support development that will directly improve the quality of life for Utahans for decades to come.”
On December 15, 2021, the Land Authority has issued a Request for Qualifications and a Request for Proposals. A dozen companies initially submitted responses. In March 2022, The Point’s selection committee narrowed the field down to three outstanding finalists: Catellus Development Corporation, Boyer-Gardner and Lincoln-Colmena-Wadsworth. Finalists were asked to demonstrate how their proposed approach for the first phase of development at The Point called “The Hub” would align with the public’s vision for the site.
“lincoln and its partners are honored that the Land Authority has selected our team to deliver an innovative community-centred development that leverages sustainable transit-oriented solutions and celebrates the area’s natural beauty and wealth of outdoor opportunities. “, said Patrick Gillian of Lincoln Property Company. “We are committed to Utah long term and we look forward to continuing to grow our market presence.”
In addition to their alignment with key elements of The Point’s vision, Lincoln-Colmena-Wadsworth have stood out for their proven success with public-private partnerships, their ability to maximize audience return on investment and their commitment to engage with Utahns throughout the development process. .
“The Point represents the largest development site in the country in recent years. lincoln and our partners are honored that the Land Authority has selected our team to deliver innovative community-centred development that leverages sustainable, transit-oriented solutions and celebrates the area’s natural beauty and wealth of outdoor opportunities. air,” said Ehman Abbey, vice president of Lincoln Property Company and spokesperson for the collective team. “We are committed to Utah long term and look forward to strengthening our relationships in the community. »
In addition to their alignment with key elements of The Point’s vision, Lincoln-Colmena-Wadsworth have stood out for their proven success with public-private partnerships, their ability to maximize audience return on investment and their commitment to engage with Utahns throughout the process.
“We are truly grateful to have a team of state and local experts who will help us develop ‘The Utah Way’ site,” said Utah State Rep. Lowry Snow, Land Co-Chair. Authority. “This land belongs to all Utahans, so we look forward to working with the public and our development partner to ensure The Point’s unique heritage and bright future is well represented in everything we do. do.”
About the tip
The 600 acres of state property on the current site of the Utah State Prison of draper is known as “The Point”. The site belongs to all Utahns and represents a unique opportunity to create an iconic place Utah development. It is expected that The Point will provide affordable housing options, advance innovation, catalyze robust economic growth, provide parks and regional trail connections, demonstrate sustainable practices, protect the environment and ultimately , will improve the quality of life for Utahns. More information, including live streaming, recordings and materials from all public meetings, is publicly available on The Point’s website at www.thepointutah.org. Follow the dot on Facebook, Twitter, instagram and Youtube.
About Lincoln Property Company
Lincoln Property Company (lincoln), founded in 1965 by its president mac pogue, is a private real estate company offering a full-service platform including real estate investment, development, construction management, property management, leasing, asset management and accounting services. With offices in all major markets across the United States and across Europe, lincoln provides the depth and breadth of expertise needed to successfully complete projects around the world. of Lincoln cumulative development efforts have produced over 150 million square feet of retail space and over 225,000 multi-family residential units. The company is a top 10 US developer of office, industrial, retail and mixed-use properties, and the nation’s second-largest apartment manager. Visit www.lpc.com for more information.
About Colmena Group
Founded in 2008, Colmena Group (Colmena) is a private property development and investment company headquartered in Salt Lake City, UT. Colmena’s managing partners have over 65 combined years of real estate experience, building their reputation on the thoughtful management of investment opportunities. Colmena’s mission is to build a legacy of quality, sustainable communities by investing in various real estate asset classes throughout Intermountain West. Colmena’s portfolio includes multi-family housing, assisted living facilities, commercial offices, student housing, research parks, retail, hotels, industrial warehouses and mixed-use properties. Since its inception, Colmena has developed and invested in real estate projects that have built a current portfolio value of more than $1.6 billion. You can find more information about Colmena and his team at www.colmenagroup.com.
About Wadsworth Development Group
Wadsworth Development Group (WDG) was founded from humble beginnings in 1996 as an alternative investment vehicle for leading civil construction company, Ralph L Wadsworth Construction Co. WDG is now a commercial property development and management company in full service. WDG owns and manages multiple platforms, including Alpha Development Group, Roots Management Company and the Salt Lake City Global Logistics Park, where we develop and manage industrial, multi-family, mobile home, office and hospitality CRE assets. . The family’s tangible reputation for integrity and quality is key to its success.
CRTKL is a global architecture, planning and design practice that began over seven decades ago and has grown into a cultural agency to advance positive outcomes in our communities. Focusing on people, planet and positive design enables us to achieve an equitable and climate positive future; dedicated to inspiring experiences, human well-being and socially responsible outcomes through research-based, data-driven design.
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SOURCE The Mountain Point State Land Authority