Developers broke ground on the first phase of The Point, on the former Utah State Prison site, on June 29, 2026. The first homes you could buy there sit in a separate part of the site called the River District. On the current schedule, vertical construction there starts around March or April 2028. Everything opening before then is rental housing, an event center and roads.
So if you're shopping Draper this fall, you're buying in a market The Point hasn't changed yet. The project's real effect on ownership will come later. It will also come in a form Draper's headline price doesn't track: small-lot single-family homes, townhomes and low-rise condos, planned near a future FrontRunner station.
The first buildings you'll see are apartments
The first residential building announced for The Point is Chroma. It has 363 units over 42,000 square feet of ground-floor retail. A March 2026 report from Building Salt Lake described the early pipeline as 408 market-rate apartments across two buildings, 363 in Chroma and 45 in a second mixed-use building. It also listed 400 affordable units planned with Alta Bay Capital.
Those buildings take time. Chroma was described as a 30- to 36-month build, with delivery "pushing 2029, early 2029" if work began at the end of 2026. The 45-unit building and a hotel were expected around the same time.
The downtown core is being developed by The Point Partners, a team of Lincoln Property Company, Colmena Group and Wadsworth Development Group. The first-phase names you'll keep hearing are the 5,200-seat Mountain America Event Center, run by Oak View Group, plus Chroma, Amber, The Promenade and Convergence Hall. No retail or restaurant tenants had been named in the coverage reviewed for this post.
The official Phase One plan page still lists roughly 3,000 multifamily units for The Promenade. That number is the long-range plan. The buildings actually in the pipeline this year are the 408 market-rate units and 400 affordable units above.
The schedule, laid out
| Milestone | Current target |
|---|---|
| Phase I groundbreaking | June 29, 2026 (done) |
| Porter Rockwell Boulevard and backbone infrastructure | Planned for late 2026 |
| River District developer selected | Expected by end of 2026 |
| River District contract negotiations | December 2026 to March 2027 |
| Other main roads | Summer 2027 |
| River District horizontal construction | About July 2027 |
| River District vertical construction | About March or April 2028 |
| First Promenade buildings delivered | Late 2028 to early 2029 |
| Bluffdale FrontRunner station | 2030, per KSL |
| Draper to Lehi light rail | No funded date |
Counting from today, September 26, 2026, River District vertical construction is about 18 months away. The first move-ins would come after that. No builder has been named, no prices have been announced, and there's no firm date for a sales launch or first occupancy.
The River District is where ownership shows up
In July 2026, The Point issued a Request for Statement of Qualifications, a call for builders, for the River District. That's about 50 acres on the west side of the roughly 600-acre site, between Porter Rockwell Road and a future FrontRunner station. Don Willie, The Point's director of operations and external relations, said the goal is 800 to 900 units, all for sale. The final count depends on the builder or builders chosen.
The draft densities tell you what kind of housing this is:
- Single-family homes at about 8.5 per acre, for an average lot of around 5,100 square feet
- Townhomes at 12 to 16 per acre, on lots of about 2,722 to 3,630 square feet
- Low-rise condominiums at about 24 per acre
The district is split into five areas, A through E. Area A is green space and single-family homes only. Area B mixes single-family homes and townhomes. Areas C, D and E are townhomes and low-rise condos, and Area E could get extra density as transit-oriented development near the planned station.
Now compare that to what Draper sells today. In Q2 2026, Draper had the highest single-family median in Salt Lake County at $925,000. The Deseret News estimated a household would need about $259,641 a year to afford it. The countywide single-family median for the same quarter was $645,000, according to the Salt Lake Board of Realtors. Next door in Bluffdale, where the FrontRunner station will sit, the Q2 median was $775,000.
That $925,000 figure describes the single-family homes Draper already has. Townhomes and condos near a rail station are a different product, and a single-family median can't tell you what they'll cost. Nobody has announced River District pricing, so any guess you hear right now is a guess. For a rough reference point, the Salt Lake County condo median in Q2 2026 was $417,900, down 2.81% from a year earlier. That's a countywide number, though, and it doesn't forecast The Point.
Builders will also carry costs that shape whatever price they eventually set. The RFSQ spells out who pays for what:
Developers and builders "are expected to fund and build internal site infrastructure for the for-sale parcels, as well as internal parks, open space, and any amenities within the site boundaries."
The document also tells bidders to assume that "future tax revenues, PID levies, and other public finance tools are not available to them to fund infrastructure." The Point will build the main roads and deed them to Draper City. The streets, parks and amenities inside each for-sale parcel are the builder's to finance.
Transit has the longest timeline
"Transit at The Point" actually covers four separate things, each on its own schedule:
- The Point's internal transit backbone. The official site describes transit through the site as planned backbone infrastructure.
- Phase 1 service from UDOT and UTA. This means shuttles and "Innovative Mobility Zones." The two agencies are still working with local leaders on the implementation plan.
- Phase 2 light rail from Draper to Lehi. Light rail is the locally preferred alternative, with up to 11 stations. The study was completed January 13, 2026, and the Federal Transit Administration issued a Finding of No Significant Impact after the environmental review. The agencies are still "tracking opportunities for additional funding" to build it. A TRAX Blue Line extension would only be studied if a major funding allocation comes through.
- The Bluffdale FrontRunner station. It's planned on the west side of The Point near 14600 South, inside Bluffdale city limits. KSL reported it was in early design and scheduled for completion in 2030.
Only the FrontRunner station has a completion year, and that year is 2030. The light-rail line would connect to that station at its northern end. For a buyer, the densest housing at The Point is being planned around a station that's still about four years out.
The amenity with the clearest plan is the 1.4-mile River to Range trail. It's designed to link the Jordan River Parkway Trail to Draper's Corner Canyon foothills, along with a Central Green. The sources don't give a completion date for either.
What "near The Point" is worth in a 2026 listing
When a Draper listing leans on The Point, the timeline above lets you test the pitch against dates. It helps to ask:
- Which piece of The Point does this home benefit from, and when? Porter Rockwell Boulevard was slated for late 2026. The event center and first buildings are expected around late 2028 to early 2029. The FrontRunner station is targeted for 2030. Light rail has no date at all.
- Is "transit" in the listing copy the station or the light rail? One has a target year. The other is waiting on funding.
- Will this home compete with River District resale in a few years? If you're buying a townhome or condo nearby, 800 to 900 new for-sale units nearby could matter when you sell. Single-family buyers on larger Draper lots are shopping a different product.
- How long are homes taking to sell right now? Across Salt Lake County, average cumulative days on market rose to 48 in Q2 2026 from 45 a year earlier, and new listings were up 3.56%. Draper-specific days on market for the same period weren't available in the sources reviewed. Ask for the recent comps on the specific street.
FAQ
Can I buy a home at The Point today?
No. The River District builder is expected to be chosen by the end of 2026, horizontal work is planned for about July 2027, and vertical construction for around March or April 2028.
Who is building the for-sale homes?
That hasn't been announced. Proposals were due August 14, 2026. The Point Partners are developing the downtown core, and that's a separate agreement from the River District.
Is the FrontRunner station in Draper?
It's planned inside Bluffdale city limits, on the west edge of The Point near 14600 South.
Will The Point bring Draper prices down?
No pricing has been announced. The planned housing types will likely come in different price bands than Draper's $925,000 single-family median from Q2 2026, but that median can't predict what River District homes will cost.
If you're weighing a Draper home against The Point's timeline, Nick Booth can pull recent comps for the streets near the site and show you what's actually on the ground there today. Let's Connect.
