Real estate investment firm IHP Capital Partners has partnered with Salt Lake City home builder Fieldstone Homes to acquire and build out 113 single-family homes in Utah’s ‘Silicon Slopes’ tech hub.

The upcoming Canyon Point community, located in the city of Lehi, is among the final phases of the 5,000-plus-home Traverse Mountain Master Plan. The lots are positioned above Lehi and the rest of the master plan, providing expansive views of the surrounding area, and range from approximately 6,280 to 39,447 square feet in size, with most lots between 8,000 and 9,000 square feet. The community will offer luxury homes aimed at move-up buyers.

“Canyon Point brings the most desirable and secluded lots to Traverse Mountain. Set amid a mountainous landscape and adjacent to an expanding technological hub, the community is the pinnacle of what the Silicon Slopes has to offer,” says Reneé McDonnell, senior vice president at IHP Capital Partners. “IHP is excited to partner with Fieldstone Homes on this development. Their team brings a high level of expertise in design and execution across various market segments in the Salt Lake region and we look forward to our continued partnership.”

Residents will have access to Traverse Mountain’s completed amenities, which include public and private parks, hiking trails, and a community center with a large pool and reception area. The community is located near a number of technology-based employers—Adobe, Oracle, Entrata, Ancestry, Xactware, and Micron—as well as extensive retail centers and public and private schools.

“Lehi’s healthy outdoor-focused and business-friendly environment attracts top entrepreneurs and professionals from across the country,” says Jason Harris, vice president of land acquisitions at Fieldstone Homes. “The homes at Canyon Point will reflect the vibrant and collaborative character of the Silicon Slopes. As more individuals migrate to the Salt Lake region looking for an upscale active lifestyle, we share in their excitement for the future. We are pleased to partner with IHP Capital Partners in bringing this beautiful new community to life.”

The joint venture has commenced grading on the hillside lots, and home sales are expected to open in late summer to early fall. A VIP list for interested buyers will open in the second quarter.