Oak View Group and Mountain America Credit Union have struck a deal to name the new 5,000-seat multipurpose events arena in Draper, Utah, the Mountain America Event Center. A source with knowledge of the deal said it’s a 10-year agreement valued in the low eight figures.
The venue will sit amid The Point, a 104-acre development in downtown Draper that could expand to 600 acres of state-owned land (overseen by the Point of the Mountain State Land Authority). Draper is positioned in the rapidly growing region south of Salt Lake City and north of Provo, at the foot of the Wasatch Mountains.
The project is the largest development in Utah history and is led by The Point Partners, a real estate development joint venture between Lincoln Property Group, Colmena Group and Wadsworth Development Group. Lincoln is known in the sports world for developing The Star, the Cowboys’ training facility and team HQ in Frisco, Texas, and, currently, the Browns’ Brook Park mixed-use development project.
In Utah, The Point’s real estate joint venture worked with Piper Sandler to close a $250M revenue bond transaction that will finance the arena and other infrastructure projects in the development. That investment has kickstarted the project and an official groundbreaking for the projected 15-year, $3B project’s first phase was held Monday, June 29.
In addition to the arena (designed by Gensler), the initial phase includes a 363-unit multifamily residential complex, with 425,000 square feet of ground-floor retail and a 2,000-foot walkable street called The Promenade designed to be the social heart of the development. OVG will manage the arena, scheduled to open in 2028, and handle food and beverage, in addition to selling its sponsorship portfolio. Music is set to be the main driver of business as the venue has no official sports tenant.
Mountain America Credit Union is an active sports sponsor, especially in the American southwest. It also has naming rights to the Phoenix Mercury’s training facility and Arizona State’s football stadium, a 15-year, $50M deal also brokered by OVG Global Partnerships.
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