Dallas, TX (April XX, 2024) – The new $6 billion Preston Harbor project in Denison was recently awarded “Best Land Deal” in both the D CEO Real Estate Awards and Dallas Business Journal Real Estate Awards. The 3,114-acre master-planned community, a development of Craig International and Waterfall Development LP., is located on Lake Texoma, about 75 miles north of Dallas in Denison, Texas.
“Preston Harbor began as a dream that my good friend, George Schuler, had 20 years ago and that we are making a reality today,” said David H. Craig, Founder, Chairman and CEO of Craig International. “This project represents a landmark moment for North Texas and Grayson County. This isn’t just a land deal; it’s a transformative development that will redefine the region and enhance the quality of life for residents and visitors alike. The economic impact of Preston Harbor cannot be overstated. It will create thousands of jobs, stimulate local businesses and elevate Denison as a leader in the Texoma region.”
According to D CEO, “The $6 billion Preston Harbor development on Lake Texoma was one of the largest land purchases in Grayson County’s history.” The project will include approximately 7,500 homes made up of luxury single-family, active adult, and multifamily, a resort hotel, retail, restaurants, a town center and an upscale marina.
A $100M Margaritaville resort will anchor Preston Harbor. The project will open up the entire west side of Denison to the 90,000-acre Lake Texoma. As one of the largest undeveloped tracts on Lake Texoma, it will include more than nine miles of lakefront and feature an extensive trail system interconnecting interior lakes, parks, marinas, Lake Texoma and the resort.
The Dallas Business Journal said Preston Harbor “will also serve to bridge the gap between DFW and Texoma (as) the frontier of the Metroplex continues to shift north.”
General partners for Preston Harbor include David H. Craig, Dave Johnson, Choctaw Nation of Oklahoma, and N9 Capital Partners. Miles Prestemon, Chief Operating Officer and President of the Development Division of Craig International, will be Project Manager of Preston Harbor.
Preston Harbor is currently finalizing land planning and engineering. Groundbreaking is slated for later this year.
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About Craig International:
Craig International is a full-service commercial brokerage and real estate development company that was founded 40 years ago. It has been at the forefront of Collin County’s explosive growth for three generations and is now expanding into Grayson County. As master developer of the $5B Craig Ranch, an award-winning 2,200-acre master-planned community in McKinney, TX, Craig International’s strategic
alliances, proven performance, and world-class service make the firm an ideal partner for everything from a simple land purchase to a master-planned community.
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