1,299 New Homesites Planned for Part of Lake Texoma Development
Waterfall Partners headed by David H. Craig, CEO of Craig International, the master developer for the massive 3,100-acre Preston Harbor development, has tapped Farmers Branch-based Centurion American Development Group to develop 550 acres within the Preston Harbor development. Centurion will develop 338 acres into 1,184 residential lots and an additional 21 acres featuring 115 estate lots – many featuring scenic lake and greenbelt views.
The project reflects a real synergy between two of North Texas’ most impactful developers. Preston Harbor is a lakefront, master-planned community on Lake Texoma that will reshape North Texas. One of Craig International’s largest projects to date, Preston Harbor is a 6-billion-dollar project that will bring a monumental boost to the region’s housing availability and tourism popularity. Located north of FM 406 and west of Hwy 84 in Denison, Texas, Preston Harbor encompasses 9.5 miles of Lake Texoma shoreline, including several tributaries.
Centurion American wants to create a community that welcomes a variety of homeowners including those seeking suburban homes with lakeside lifestyle, vacation homeowners and digital nomads. In addition to the single-family homes, the development plans include the eagerly anticipated Margaritaville Resort Hotel, retail shops, restaurants, and a marina on Lake Texoma. The entire community will interlink through a series of walkable paths, peaceful bike trails, and golf cart paths with plenty of space for outdoor activities.
“When we began Preston Harbor, we made a commitment to fulfill the dream that Denison resident George Schuler had for the area 20 years ago when he purchased these parcels of land,” said David H. Craig, Founder, Chairman and CEO of Craig International. “Preston Harbor is one of the most impactful developments in the state of Texas today, and much of that is attributable to the visionary leadership of David Craig and his commitment to seeing the dreams of George Schuler come to life,” said Mehrdad Moayedi, CEO of Centurion American Development Group. “Preston Harbor is poised to be one of the premier residential developments not only in North Texas but across the region.”
Centurion American expects to break ground on the residential component in Q3 2025. Lots are estimated to be turned over to builders before the end of 2026.
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