Craig International announced on Mar. 24 that it plans to develop a 189-acre mixed-use project in Denison, positioning the site as a gateway to the Lake Texoma region.
The development is significant for the area, as it aims to provide new retail, entertainment, apartments, and office spaces in a walkable environment. The company was selected after a competitive request for proposal process managed by the Denison Development Alliance and expects to close on the $12 million land purchase within about 120 days.
The site is located at U.S. Highway 75 and Farm to Market Road 84, an intersection that sees up to 60,000 vehicles daily. Craig International is currently seeking a major retail anchor focused on sports and outdoor recreation due to its proximity to Lake Texoma. “If we can land our first big land sale on the retail side, then that’ll be the catalyst that really accelerates the project,” David Craig said.
This new development will serve as an entry point for Preston Harbor—a separate $7 billion master-planned community also led by Craig International—where Centurion American plans an initial phase of 1,300 homes. Preston Harbor covers approximately 3,100 acres and could potentially double Denison’s population of around 28,000 when completed.
Regional growth has been driven by large industrial investments such as semiconductor facilities from Texas Instruments and GlobalWafers. Planned infrastructure improvements like the Grayson County Tollway are expected to further enhance access to these developments.
Kimley-Horn has been appointed civil engineer for this four-phase project. Planning and pre-development costs are estimated at $3 million before construction begins; groundbreaking is tentatively scheduled for 2028 but depends on tenant demand and finalizing land planning processes.
