Outdoor event venue to be built at The Point development

DRAPER — An outdoor events venue is set to be built at The Point, 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.

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."

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