Press Release: RCLCO Real Estate Consulting Serves as Consultant for Development Team Selection Process for Utah’s Point of the Mountain State Land Authority
RCLCO acting as an advisor to the State of Utah’s 600-acre development that will foster cutting edge technological innovation, support robust economic opportunity and offer a diversity of housing options
Photo credit: The Point of the Mountain State Land Authority and Skidmore, Owings and Merrill
In the wake of the recent announcement from The Point of the Mountain State Land Authority that a developer has been selected for Phase 1 at The Point, RCLCO Real Estate Consulting is pleased to share this significant project milestone with the rest of the project team.
“In our role as the state’s real estate advisor, RCLCO has helped guide the site’s planning with market, financial, and partnership analysis, and worked alongside DFCM in the developer solicitation process to identify and evaluate candidates. It’s gratifying to see the project take a giant step towards implementation,” said Erin Talkington, Managing Director of RCLCO. Going forward, RCLCO will continue to play a key role in negotiating the development agreement, advancing the public finance strategy, and ensuring the Hub development plan supports the broader site’s goals.
Development strategy for public sector and non-real estate entities is a key focus area for RCLCO. RCLCO’s team provides local governments, universities, family trusts, sports teams, and other similar entities with the same investment grade market, financial, economic, and development services expertise that has earned the firm a top-notch reputation in the private sector, and can help guide jurisdictions throughout the planning and implementation phases of their real estate initiatives.
“RCLCO’s subject-matter expertise has proven invaluable to the Land Authority as we move forward with implementing a future-focused vision for America’s newest 15-minute city right here in Utah,” said Alan Matheson, The Point executive director. “Their team of national experts have helped us create in-depth market analysis, develop a robust public financing strategy and identify a well-known development partner. We appreciate their top-notch services and look forward to continuing to work with them.”
The Land Authority announced earlier this month that Innovation Point Partners, led by national developer Lincoln Property Company with local partners Colmena Group and Wadsworth Development Group, have been selected to help build The Hub at The Point. Their announcement comes after a competitive selection process to identify a partner with experience building large-scale, sustainable communities.
“The Point represents the single largest and most significant development site in the country in recent years,” said Abbey Ehman, vice president with Lincoln Property Company. “Lincoln and our partners are honored that the Land Authority has chosen our team to deliver an innovative, community-centric development that leverages sustainable, transit-oriented solutions and celebrates the area’s natural beauty and wealth of outdoor opportunities.”
The Point is centrally located in the heart of Utah’s fast growing technology sector and between Utah’s two most populous counties. It is well served by vital infrastructure and surrounded by more than 20,000 acres of undeveloped land in area communities. It is easily accessible via high-capacity roadways and planned future transit service. Widely recognized as one of the most significant quality of life
Since 1967, RCLCO has been the “first call” for real estate developers, investors, public institutions and non-real estate companies seeking strategic and tactical advice regarding property investment, planning, and development. RCLCO leverages quantitative analytics platforms and a strategic planning framework to provide end-to-end business planning and implementation solutions at an entity, portfolio, or project level. With the insights and experience gained over 50 years and thousands of projects – touching over $5B of real estate activity each year – RCLCO brings success to all product types across the United States and around the world. RCLCO is headquartered in Bethesda, MD, and has offices in Los Angeles, CA, Orlando, FL, Austin, TX, and Denver, CO.
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