Republished from Dallas Business Journal, April 18, 2024
David Craig, CEO of Craig International, has big plans for the 3,114 acres his firm purchased in December in Grayson County.
That deal was a major milestone toward the development of Preston Harbor, a master-planned community 20 years in the making. Located along the shore of Lake Texoma, it is expected to include 7,500 homes plus stores, restaurants, a marina and a $100 million Margaritaville resort. That could bring 20,000 residents and thousands of jobs to the region between Dallas and Oklahoma, transforming its economy. It will also serve to bridge the gap between DFW and Texoma — the frontier of the Metroplex continues to shift north, as Craig well knows with his Craig Ranch community in McKinney.
Preston Harbor is slated to be a recreational hot spot. It’ll have 9.5 miles of lake frontage as well as 27 internal lakes and an extensive trail system.
It could also create $6 billion in property value, which would inject tons of tax revenue into public schools and other facets of local government.
This story is about one of the winners in Dallas Business Journal’s Best Real Estate Deals, honoring the best new projects and deals of 2023.