December 22, 2025

Denison, Texas: Major $6 Billion Development Project Underway

Denison, Texas, December 22, 2025

Denison, Texas is set to undergo a transformative $6 billion development project known as Preston Harbor, which aims to significantly boost the local economy and nearly double the city’s population. This ambitious plan, led by Craig International, includes over 7,500 residences, a $100 million Margaritaville resort hotel, retail shops, and an upscale marina. Spanning over 3,100 acres along Lake Texoma, the development is poised to add over 18,000 residents and create a premier destination in the region.

Denison, Texas: Major $6 Billion Development Project Underway

Denison, Texas – A transformative $6 billion development is underway in Denison, Texas, aiming to nearly double the city’s population and significantly boost the local economy. Spearheaded by Craig International, the Preston Harbor project encompasses over 3,100 acres along Lake Texoma’s south shore, featuring approximately 7,500 homes, including luxury single-family residences, active adult communities, and multifamily units. The development also plans to introduce a $100 million Margaritaville resort hotel, retail shops, restaurants, and an upscale marina with 400 to 600 boat slips. This ambitious project is expected to add more than 18,000 residents to Denison, marking one of the largest land purchases in Grayson County’s history.

Project Details

The Preston Harbor development is strategically located on the south shore of Lake Texoma, about 75 miles north of Dallas. The project is designed to open the entire west side of Denison to the 90,000-acre lake, offering 9.5 miles of shoreline. The development includes 27 internal lakes, with four lakes greater than 25 acres, as well as diverse topography and wooded areas, enhancing its appeal as a premier destination.

Economic Impact

Beyond residential units, Preston Harbor is set to introduce a $100 million Margaritaville resort hotel, retail shops, restaurants, and an upscale marina with 400 to 600 boat slips. This development is projected to add more than 18,000 residents to Denison, significantly boosting the local economy.

Background

Craig International, led by David Craig, is renowned for its development of Craig Ranch, a 2,200-acre master-planned community in McKinney, Texas. The company has a history of successful large-scale projects and is now extending its expertise to the Preston Harbor development in Denison.

Frequently Asked Questions (FAQ)

What is the Preston Harbor development?

The Preston Harbor development is a $6 billion project in Denison, Texas, covering over 3,100 acres along Lake Texoma’s south shore. It includes approximately 7,500 homes, a $100 million Margaritaville resort hotel, retail shops, restaurants, and an upscale marina with 400 to 600 boat slips.

Who is leading the Preston Harbor project?

The project is led by Craig International, a development company founded by David Craig, known for its successful large-scale projects like Craig Ranch in McKinney, Texas.

What is the expected impact of the Preston Harbor development on Denison?

The development is expected to nearly double Denison’s population, adding more than 18,000 residents, and significantly boost the local economy through new housing, retail, and hospitality offerings.

Key Features of the Preston Harbor Development

Feature	Description
Location	South shore of Lake Texoma, Denison, Texas
Size	Over 3,100 acres
Residential Units	Approximately 7,500 homes, including luxury single-family, active adult, and multifamily units
Resort Hotel	$100 million Margaritaville resort hotel
Marina	Upscale marina with 400 to 600 boat slips
Economic Impact	Expected to add more than 18,000 residents to Denison, significantly boosting the local economy