Outdoor event venue to be built at The Point development

DRAPER — An outdoor events venue is set to be built at The Point, the redevelopment area of the former Utah State Prison site, after its board of directors voted unanimously to approve a lease and development agreement Tuesday.

The developer behind the venue, Blackwall Ventures, in a presentation to the board, said the ground lease would encompass nearly 40 acres over 10 years to build and run the venue.

The venue is projected to bring $3.9 billion in economic impact and $163.5 million in new tax revenue to the state, according to Daniel Reeve, a partner at Blackwall Ventures.

Reeve also pointed out the venue development will come at no additional cost to taxpayers as the bond will be paid back through a venue fee instead of public taxes.

Jordan Teuscher, co-chair of The Point's board of directors, called the venue development an "amazing opportunity" for the state and The Point development.

"This will be something that will activate all of the other areas that we have within the site, whether it's retail or restaurants, or even getting people excited that want to live in the area or work in the area," Teuscher said. "I'm really excited about what this brings and the opportunities that will come with this."

Plans could also include the venue playing host to the Beehive State's largest music festival, with a segment on the developer's website saying the venue could accommodate "over 75,000 attendees at any given time, attracting headliner artists and tens of thousands of attendees to the project and city."

For reference, Kilby Block Party in 2026 welcomed about 90,000 fans across a three-day festival.

While that likely represents a maximum capacity, documents from The Point's July meeting show that typical events at the venue are expected to range between 30,000-50,000 attendees.

However, Reeve noted that event size will be limited to the parking Blackwall is able to secure. The venue would be located on the south end of the development, near the 14600 South interchange.

Reeve added that Blackwall is planning to put about $22.5 million worth of improvements to the venue site over the next decade, all of which would be absorbed by The Point at the end of the lease term, unless the Point's board were to offer an extension for Blackwall to continue operating the venue.

If the board opts to bring in another venue operator after the 10 years, it would owe Blackwall a $1 million post-term fee within the first five years of new management. Alternatively, that post-term clause wouldn't apply if Blackwall didn't accept a hypothetical extension offer from The Point.

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