The large project to redevelop the State Prison site in Draper will take a significant step forward on Monday, Sept. 14, with officials announcing the formal beginning of the planning process for the 700-acre site.

It is expected that the new prison in the northwestern quadrant of Salt Lake City will be finished in mid-2022, and prisoners will be moved. Demolition of the old prison buildings in Draper will immediately commence and the prison site will transform into a development project called The Point. Eventually, it could become a major economic engine for the state.

“The site offers unprecedented potential to create an innovation hub that catalyzes technological advancement, fosters mixed-use urban areas, and preserves parks and open space in a way that facilities mobility, improves air quality, and enhances Utahns’ quality of life,” says a press release. Development of the site will influence what happens in the surrounding area, which is at the heart of Utah’s fast-growing technology industry.

At the Tuesday meeting of the Point of the Mountain State Land Authority board, members discussed an organizational structure for the development, and approved a process to select a planning team to develop a master plan for the site. Development partners will be brought in later. Executive Director Alan Matheson said significant progress has been made over the last several months, and now is the time to provide an overview for the public.

Public input and involvement will be important as the project progresses, Matheson said.

A number of dignitaries will attend the Monday press conference, and speakers will include Lt. Gov. Spencer Cox, Senate Pres. Stuart Adams, House Speaker Brad Wilson, Salt Lake Mayor Jenny Wilson, and Draper City Mayor Troy Walker, among others.