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Quick answer: Preston Harbor is a 3,114-acre master-planned community taking shape on Denison, Texas's Lake Texoma shoreline, with a reported buildout value between $6 and $7 billion - making it one of the largest single real estate developments anywhere in North Texas or southern Oklahoma. At full buildout it's expected to bring roughly 7,500 homes, a 900-slip marina, a Margaritaville resort, and enough new commercial space to reshape Denison's economy for a generation. Here's what's actually been announced, who's building it, and what buyers should know before they get serious about it.
What exactly is Preston Harbor?
Preston Harbor is a mixed-use, master-planned community spanning 3,114 acres along roughly 9.5 miles of Lake Texoma shoreline inside Denison, Texas city limits. The site plan also includes 27 internal lakes - four of them larger than 25 acres - woven through the neighborhoods, along with trails, green space, and golf-cart paths connecting the different sections of the community. It sits within Denison's city limits, giving residents access to Denison's schools, downtown, and city services alongside amenities that didn't exist on this stretch of shoreline before.
Preston Harbor's conceptual site plan, showing the planned single-family "pods," the multi-family site, a proposed Denison ISD school site, and the marina corridor. Plan is conceptual and subject to change. Source: Denison Development Alliance.
Who's behind Preston Harbor?
The land was assembled by Waterfall Development, an affiliate of McKinney-based Craig International led by CEO David Craig, which closed on the roughly 3,114-acre purchase for a reported $67.5 million. Centurion American Development Group, led by Mehrdad Moayedi, is building out the residential phases. The Choctaw Nation of Oklahoma has joined as a general partner as part of the tribe's push to diversify its economy beyond gaming, and Horizon Capital Partners is the lead developer behind the resort component alongside N9 Capital Partners.
What's actually planned inside Preston Harbor?
- Roughly 7,500 homes at full buildout - a mix of single-family homes, active-adult product, and multifamily units, phased in over many years rather than delivered all at once.
- A 900-slip marina plus boat storage, giving Preston Harbor one of the largest planned marinas anywhere on Lake Texoma.
- A $100 million Margaritaville Resort - the brand's third Texas property after South Padre Island and Crystal Beach - planned with around 150 hotel rooms, 50 cottages, and 50 casitas.
- Retail, restaurants, and commercial space built out alongside the residential phases rather than as an afterthought.
- A planned school site and a dedicated fire/police service area - the conceptual site plan filed with the city sets aside land for a Denison ISD campus and public-safety facilities inside the community, not just homes.
Centurion American's first residential phase covers roughly 550 acres and is planned for about 1,184 standard residential lots plus 115 larger estate parcels, with lot sizes ranging from 50-60 foot in-town lots up to multi-acre estate sites. That first phase is the one most buyers researching Preston Harbor today are actually asking about - it's the inventory expected to reach the market first.
What's the timeline?
Site work on Preston Harbor's North Arterial Road - the main road connecting Highway 84 to the resort and marina area - began in late 2025 and is expected to take roughly 9 to 12 months to complete. Centurion American has targeted having lots ready to hand off to homebuilders before the end of 2026, with the first completed homes realistically arriving as early as 2028. As with any development this size, phase releases, exact pricing, and amenity completion dates will keep shifting as construction progresses, so treat any specific date more than a year out as a planning target rather than a guarantee.
Why Preston Harbor matters for Denison's housing market
Denison had just over 26,000 residents and roughly 9,588 households as of the 2020 census. A development the size of Preston Harbor - potentially thousands of new rooftops over the coming decade - could more than double the city's population over time, which is exactly why it's reshaping how buyers, builders, and even the city itself think about "Denison real estate." City leaders have pointed to the expanded commercial tax base as a way to help keep property tax rates flat while funding infrastructure upgrades the city has needed for years. Preston Harbor also isn't coming out of nowhere - local boosters have tied the project's ambition back to a decades-old vision for Lake Texoma's Denison shoreline first championed by the late George Schuler, and existing lake businesses like The Point Restaurant and Tanglewood Resort are expected to keep operating alongside the new development rather than being displaced by it.
What should buyers check before getting serious about Preston Harbor?
- Which phase is currently selling - a development this size releases sections over time, and pricing, lot availability, and amenity completion vary phase to phase. What's true about availability today may not be true in six months.
- HOA and community fee structure - master-planned waterfront communities almost always carry HOA dues that fund shared marina, amenity, and common-area upkeep; get the actual number before assuming a monthly cost.
- Builder options vs. resale - early in a development like this, most transactions are new construction through builder contracts rather than resale, which changes the negotiation and timeline compared to a typical existing-home purchase.
- Which pod or section you're actually buying into - the conceptual site plan breaks Preston Harbor into numbered "pods" with different lot sizes, price points, and proximity to the marina and amenities, so two "Preston Harbor" listings can be very different purchases.
Preston Harbor at a glance
- Location: Denison, Texas, on the Lake Texoma shoreline
- Size: 3,114 acres, about 9.5 miles of shoreline, 27 internal lakes
- Reported buildout value: $6-7 billion
- Planned homes at full buildout: roughly 7,500
- Marina: 900 slips planned
- Resort: $100 million Margaritaville, about 150 rooms plus cottages and casitas
- Developers: Centurion American Development Group and Craig International/Waterfall Development, with the Choctaw Nation of Oklahoma as a general partner
- First lots to builders: targeted before end of 2026; first homes as early as 2028
- Nearby: Downtown Denison, Eisenhower birthplace, the Sherman and Grayson County growth corridor
Curious what's actually available in and around Preston Harbor right now, including current phase pricing? Browse Denison homes for sale or call (580) 217-7435 - we track new phase releases here and can get you accurate, current information instead of outdated marketing numbers.
