Draper, UT — The Point Partners, a joint venture between Lincoln Property Company, Colmena Group and Wadsworth Development Group (‘the JV”), announced the first partnership at The Point of the Mountain (“The Point”), a master-planned mixed-use redevelopment project in Draper, Utah. The JV entered into a partnership agreement with Oak View Group, a global leader in venue development, management, premium hospitality services and 360-degree solutions, to oversee the operations of an approximately 5,000-seat multi-purpose entertainment and sports venue planned for the first phase of development at The Point. Additionally, Oak View Group’s OVG Hospitality will be the food and beverage provider, and the company’s Global Partnerships division will create and sell sponsorship opportunities at the venue.
The planned entertainment venue will host concerts and live music events, sports entertainment, community events and celebrations, conferences, banquets, and other entertainment offerings that serve the local community. The Point Partners plan to begin a sub-campus application process for the venue with Point of the Mountain State Land Authority (“POMSLA”) in December.
“Our partnership with Oak View Group is the next step in our plan to build a dynamic entertainment venue, which is a community amenity that was lacking in this area. We believe that the venue will be a welcomed benefit for the local community and a critical part of The Point’s first phase of development. The space will activate the planned commercial and residential uses in phase one and create a true live-work-play destination and a walkable downtown environment at the intersection of Salt Lake and Utah Counties,” said Patrick Gilligan, Senior Executive Vice President at Lincoln Property Company.
Lance Bullen, CEO of Colmena Group, added “This partnership with Oak View Group is about more than just building a venue—we’re creating a space where experiences come to life. The Point is set to become a destination that inspires connection and growth, and this venue will be the heartbeat of it all. We’re excited to see it become a gathering place where ideas, music, and community come together in ways that will shape the future of the region.”
The Point Partners were selected in 2022 by the State of Utah and POMSLA as its partner for Phase One of the massive public-works project, which in its entirety will include the redevelopment of 600 acres across multiple phases of development. The first phase of development at The Point will span 99 acres; the backbone infrastructure work is expected to begin in November 2024.
In addition to the 100,000-square-foot entertainment venue, Phase One, which the JV plans to break ground on in 2025, will include two million square feet of office space, three million square feet of multifamily development, 425,000 square feet of retail and other entertainment offerings, a 140,000-square-foot hotel, and 16 acres of open space, with ample walking trails and public parks.
“We’re thrilled to partner with Oak View Group to bring a vibrant entertainment venue to The Point. This is just the beginning of a transformative journey for our community, where creativity and connection will flourish,” said Kip Wadsworth, CEO of Wadsworth Development Group
About Lincoln Property Company
Lincoln Property Company (“Lincoln”) is one of the largest private real estate firms in the United States. Offering a fully integrated platform of real estate services and innovative solutions to owners, investors, lenders and occupiers, Lincoln supports the entire real estate lifecycle across asset types, including office, life science, retail, industrial, data center, production studio, healthcare, government, universities, and mixed-used properties, throughout the United States, United Kingdom, and Europe. Lincoln’s combined management and leasing portfolio on behalf of institutional clients includes more than 557 million square feet of commercial space. In addition to providing third-party real estate services, Lincoln has completed over 150 million square feet of development since its inception in 1965 and has another $20 billion currently under construction or in the pipeline. For more information, visit: www.lpc.com.
About Oak View Group
Oak View Group (OVG) is the global leader in live experience venue development, management, premium hospitality services, and 360-degree solutions for a collection of world-class owned venues and a client roster of arenas, stadiums, convention centers, music festivals, performing arts centers, and cultural institutions. Founded by Tim Leiweke and Irving Azoff in 2015, OVG is the leading developer of major new venues either open or under development across four continents. Visit OakViewGroup.com, and follow OVG on Facebook, Instagram, LinkedIn, and X.
About Colmena Group
Colmena Group is a real estate development and investment company headquartered in Salt Lake City, Utah. The managing partners of Colmena Group have more than 65 combined years of real estate experience, building their reputation on thoughtful stewardship of investment opportunities. Founded in 2008, Colmena’s mission is to build a legacy of quality, long-lasting communities. Since its inception, Colmena has developed, co-developed and invested in real estate projects that built a current portfolio value of more than $1.6 Billion (exceeding six million square feet and 12,000 apartment units). Colmena’s success is rooted in our ability to understand market need, source capital and work successfully with local and national partners.
About Wadsworth Development Group
Wadsworth Development Group is an exceedingly rare combination of family-owned boutique firm and experienced national brand. With a reputation for minimizing risks and maintaining long-term relationships across the industry, we are cementing our future as a leading strategic partner in commercial real estate.