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Denver-Based Tract Acquired 668 Acres in Eagle Mountain for a Planned Data-Center Campus

Tract acquired more than 668 acres in Eagle Mountain for a planned data-center campus, but the 2024 announcement did not name a tenant or confirm construction.
From TheFinanceBase Team4 min to read
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Denver-based Tract acquired more than 668 acres in Eagle Mountain, Utah, for a planned data-center campus, according to reports published January 24–26, 2024. The announcement described a large site and proposed power infrastructure—not a completed data center, a confirmed tenant, or proof that construction had begun.

What was acquired, and where?

Tract, a Denver-based data-center site developer, announced that it had completed the acquisition of more than 668 acres west of Utah Lake in Eagle Mountain. The land is within the city’s Regional Technology Innovation overlay zone. KSL reported the transaction on January 24, 2024; Data Center Knowledge published a related report on January 26, 2024.

The acreage describes the acquired property, not the footprint of buildings. A campus-scale site can also include roads, substations, transmission corridors, stormwater facilities, setbacks, buffers and land reserved for later phases.

Tract is preparing a site, not necessarily operating a data center

Tract’s role is better understood as master developer than as the eventual data-center operator. Its model is to assemble large parcels, secure zoning and entitlements, and prepare infrastructure so that a cloud provider, hyperscale company or wholesale data-center operator can build there. Data Center Dynamics describes this approach as an effort to remove development obstacles and provide future customers with greater speed and certainty.

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That distinction matters: a land purchase can position a property for development without establishing that an end user has signed on. The January 2024 coverage did not name a tenant, identify a final operator, or establish a construction start or completion date.

What was planned for power?

Tract said it was working with Rocky Mountain Power on new transmission infrastructure intended to deliver more than 400 megawatts by 2028. That was a company-announced target for planned infrastructure, not confirmation that the capacity had been energized, fully allocated to the site, or contracted by a tenant.

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Transmission capacity is also not the same as a facility’s actual electrical load at every moment. The available reporting did not establish the campus’s first-phase demand or final design. For a development of this scale, utility approvals, permitting, construction schedules and interconnection work can all affect when planned capacity becomes available.

Why Eagle Mountain is attracting data-center development

The Tract property joined a broader cluster of technology projects reported in Eagle Mountain. KSL said Meta was expanding its nearby campus by roughly 2 million square feet and that Google had acquired a parcel of about 300 acres in the city. The same report described local officials’ interest in data centers as a way to support employment, tax revenue, infrastructure investment and a more diversified economy.

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Those are anticipated economic-development benefits, not documented outcomes for Tract’s site. The 2024 reports did not provide a job estimate, a tax-revenue projection for this property, or a breakdown of infrastructure costs and public contributions.

What the city’s overlay zone means

Eagle Mountain’s Regional Technology Innovation overlay zone permits data centers, advanced manufacturing and research-and-development uses, with site plans and permits eligible for an expedited administrative review process, according to the 2024 coverage. Zoning compatibility can reduce entitlement uncertainty, but it does not automatically approve every project detail. Site-specific engineering, utility, environmental, traffic, building and construction reviews may still apply.

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Water use and local impacts remain open questions

The 2024 reports acknowledged water as a major issue in data-center expansion. The Economic Development Corporation of Utah praised Tract’s stated focus on minimizing water use and exploring alternative power approaches. That characterization does not establish how much water the Eagle Mountain campus would use or what cooling system it would employ.

The reports did not identify a cooling design, a water source, a reuse plan or a projected annual demand for the Tract site. Those details matter because cooling choices and local water conditions can change a project’s resource footprint. Residents may also weigh construction traffic, noise, land use, substations and the demands placed on utility infrastructure.

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A water-use figure sometimes cited in this context should not be treated as a forecast for Eagle Mountain: the KSL report referenced Google data centers’ reported use of 3.3 billion gallons in the United States in 2021, plus nearly 1 billion gallons globally. That historical figure concerns Google, not Tract’s proposed campus, and does not establish current industry-wide use.

What the announcement did—and did not—establish

  • Established in the 2024 reports: Tract said it had acquired more than 668 acres in Eagle Mountain, and the property was within the city’s technology overlay zone.
  • Announced as a plan: Tract described transmission infrastructure intended to deliver more than 400 MW by 2028.
  • Not established: A named tenant, completed facility, construction schedule, final building count or square footage, project cost, specific job total, or projected water demand.
  • Not established by the available reporting: Whether later permits, utility approvals, tenant commitments or construction activity changed the project’s status after January 2024.

Accordingly, the acquisition is evidence that Tract positioned a large Eagle Mountain property for potential data-center development. It should not be read as proof of a fully financed, leased or operating campus.

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