In December 2021, the Land Authority initiated a months-long competitive, open and transparent process to select a development partner with extensive experience building large-scale, sustainable communities. This rigorous, two-staged procurement process included a thorough and objective evaluation of all applicants for their qualifications and relevant experience. On July 12, 2022, the Land Authority conditionally selected Innovation Point Partners as the Land Authority’s partner for Phase I development at The Point.
Innovation Point Partners is the name of the Land Authority’s newly selected development partner. Led by Lincoln Property Company and its local partners, Colmena Group and Wadsworth Development Group, Innovation Point Partners brings extensive experience building large-scale, sustainable communities and innovative, mixed-use projects like The Point.
The team has over 175 million square feet of combined development that is valued over $125 billion across the United States. Innovation Point Partners is well respected for developing transformative, leading-edge projects centered around the culture and values of the people they serve. They will approach their work at The Point in a way that will facilitate economic opportunity, create high-quality jobs, provide a wide-variety of housing choices and offer world-class shopping and entertainment options.
Innovation Point Partners plans to incorporate some of the intensely popular features that they have delivered on other projects—from art collectives, food halls and farmers markets to placemaking, movie nights and local community events. By leveraging their national development expertise and local understanding, Innovation Point Partners is well positioned to develop a vibrant community that enhances Utahns’ quality of life for generations to come.
Patrick Gilligan- Executive Vice President | Pacific Northwest
Patrick Gilligan serves as the Executive Vice President for LPC West’s Pacific Northwest region and is responsible for all business operations in Oregon and Washington, including the implementation of all service lines, and oversight of all acquisition, development, and redevelopment activities. He has over 18 years of experience in real estate investment and development.
Throughout his career with the firm, Patrick has facilitated over $4.5 billion in transactions, and has leased over 3 million square feet of commercial space. Since entering the market in 2014, he has grown the Pacific Northwest portfolio to over 9 million square feet of office, industrial, retail, and multi-family assets owned and/or managed. Notable projects include PACWEST Center, Wells Fargo Center, Terminal 1, and The Sutton multi-family development.
Lance Bullen - Partner & CEO | Colmena Group
Lance oversees deal-sourcing and raising equity, focusing on the guiding vision and investment strategies for the organization. He spends much of his time on strategic partnerships, economic development, investment underwriting and asset management. Lance has direct experience in multifamily, student housing, office, retail, industrial, and mixed-use developments and acquisitions.
Lance was foundational to the creation of SLC Global Logistics Center, a 3,000- acre master planned industrial zone located in northwest Salt Lake City. The project has an estimated entitlement value of 40 million developable square feet and is estimated to have at full capacity 30,000 FTE jobs. This project is a strategic partnership with the City of Salt Lake and the Utah Inland Port Authority which broke ground in 2019.
Kip Wadsworth - Founder & CEO | Wadsworth Development Group
Kip has been CEO of WDG since its inception in 1996. He is also the former CEO of heavy civil contractor RLW. Kip is a founding and managing partner in NWQ, a real estate development company that owns the rights to develop over 3,000 acres of land in the northwest quadrant known as Salt Lake City Global Logistics Center, which has capacity for +50M SF of industrial product. Kip is a founding and managing partner in Alpha Development Group, WDG’s multifamily development platform, which focuses on creating extraordinary multifamily projects throughout the intermountain west. Alpha currently has +500M under development.
Kip has a wealth of experience in construction design and execution for large scale projects. Because of his reputation for quality and timeliness while at RLW, Kip was able to secure major projects such as the $1.1B I-15 CORE Utah County project, the $54M SR-201 design-build freeway reconstruction project, the $232M I-15 NOW design-build and the $210M UTA commuter rail project. In completing work on UDOT’s Innovate 80 project, (which encompassed replacing nine ABC bridges as stated above) and breaking construction records for installing bridges in record time, the project was called a “modern engineering marvel” by National Geographic Magazine. Having grown up in Draper, Kip has a unique appreciation for the growth of his city and is always looking for ways to contribute to the community.