The picturesque south shore of Lake Texoma will soon be home to a massive resort community that will add thousands of homes to Grayson County.
Denison City Council recently approved a project spearheaded by McKinney developer Craig International to develop an over 3,100-acre residential resort on Lake Texoma, according to The Dallas Morning News.
With an estimated value exceeding $4 billion, the development will be called Preston Harbor. It will include a 200-room resort hotel, a town center with retail shops and restaurants, a marina with 400 to 600 boat slips, and various top-end amenities.
There will be more than 7,000 residential units erected, including both single-family and multi-family units. One unique feature will be the incorporation of an active adult community tailored specifically for individuals aged 55 and older.
Situated just an hour and a half north of Dallas, the project is set to invigorate the region.
“We are going to fundamentally change the city of Denison as you begin to develop Preston Harbor,” Denison Mayor Janet Gott told the DMN. “Preston Harbor is going to be part of our future.”
Denison — currently home to 26,494 — is in Grayson County and has seen approximately 8% population growth since 2020.
The region has seen considerable growth in demand since Texas Instruments announced $30 billion plans to erect four semiconductor chip-making plants in Sherman in 2021.
The following year GlobiTech — a subsidiary of Taiwan-based GlobalWafers — decided to open a new $5 billion semiconductor chip-making facility nearby, as The Dallas Express reported.
Finisar has also revealed plans to build a $3 billion plant for a semiconductor chip-making facility.
This emerging semiconductor hub has triggered a land grab in Grayson County, as The Dallas Express reported.
Developers like Centurion American Development Group are looking to build mixed-use spaces to house the new employees of the semiconductor corridor expected to pour in.
“Sherman-Denison has more synergy and velocity than it ever has,” land broker Rex Glendenning told the DMN.
Against this backdrop, Preston Harbor emerges as a beacon of progress, offering a compelling residential opportunity that promises an idyllic lifestyle on the shores of Lake Texoma. It will be conveniently located near FM 84, making it easily accessible in this flourishing region.
“We believe Preston Harbor will become the premier community in North Texas,” Miles Prestemon, who is Craig International’s chief operating officer, explained, according to the DMN.
About 90 miles in the opposite direction from Dallas, Todd Interests is developing an upscale community and resort on the site of the well-known Fairfield Lake State Park. As The Dallas Express reported, Freestone Club and Resort will offer residents an opulent lifestyle experience and plenty of recreational activities with 34 miles of shoreline.