Draper's Community Reinvestment Agency approved a participation agreement Tuesday, Sept. 1, with Nexcore Healthcare Development LLC to bring a three-story, 80,000-square-foot medical office building to the Lone Peak Hospital campus on State Street.

The board passed Resolution #CRA-26-05, greenlighting the project known as Lone Peak Medical Office Building IV at 11925 S. State St. The building is expected to create about 150 new medical jobs focused on oncology and orthopedics.

The CRA board, which includes Mayor Troy Walker and the five city council members, is considering tax increment financing from the Crescent Redevelopment District to reimburse Nexcore for project costs. The specific dollar amount of that reimbursement has not been made public.

The Crescent district is one of Draper's six active CRA project areas. Financial advisor Jason Burningham of LRB Public Finance Advisors told the council on Aug. 18 that "Crescent RDA had the most flexibility" among the city's project areas. As we reported Aug. 18, the Crescent district's fiscal year 2026 budget allocation was $936,900, including $579,900 in interfund transfers.

Across all six project areas, the CRA's fund balances totaled nearly $31 million as of August, according to Burningham. The agency's adopted FY2026 budget directed $15.3 million in tax-increment funds across those districts.

Nexcore's project, named Lone Peak Medical Office Building IV, would join two existing office buildings and the Lone Peak Surgery Center on the hospital campus. Lone Peak Hospital, part of the MountainStar Healthcare system, already offers oncology and orthopedic care among its specialties. The new building would expand that capacity with dedicated office space for those fields.

No construction start date or projected opening timeline for the building has been announced.