A massive $7 billion resort development along Lake Texoma is gaining momentum, with construction on a Margaritaville-branded destination potentially beginning as early as 2027.
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The project is part of the larger Preston Harbor development near Denison, where developers have already completed the initial phase of design and land planning. According to project leaders, this milestone signals steady progress toward turning the long-envisioned resort into reality.
David Craig, CEO of Craig International Inc. and the lead developer behind the 3,100-acre project, confirmed that foundational planning work is now in place for the Margaritaville Resort component.
A major breakthrough for the project has been the completion of grading work on a 2.5-mile arterial road that will provide access to the otherwise hard-to-reach site. This infrastructure piece is critical, as it lays the groundwork for vertical construction to begin.
With road construction expected to wrap up within the next year, developers are targeting a groundbreaking window between the second and fourth quarters of 2027.
The resort itself will be led by Phoenix Hospitality Group and is planned as a phased development. The first phase is expected to include:
Once construction begins, the buildout is projected to take approximately 12 to 18 months.
Located roughly 75 miles north of Dallas, the Lake Texoma development is positioned to become a major tourism hub for North Texas and southern Oklahoma.
The Margaritaville brand — inspired by the lifestyle of Jimmy Buffett — is known for combining resort-style hospitality with entertainment, dining and waterfront experiences. Its addition to Preston Harbor is expected to significantly elevate the destination’s appeal.
Beyond tourism, the project is anticipated to generate substantial economic activity, including construction jobs, long-term employment in hospitality, and increased regional investment.
The Preston Harbor development reflects a growing trend of large-scale, mixed-use resort communities being built near major metro areas. These projects aim to capture both local weekend travelers and out-of-state visitors seeking destination-style experiences without long-haul travel.
From an infrastructure standpoint, the early focus on road access highlights a common challenge in large developments — ensuring connectivity before vertical construction begins. Without adequate access routes, even well-funded projects can face delays.
Additionally, the phased approach allows developers to scale the project based on demand, reducing financial risk while maintaining flexibility for future expansion. Later phases could potentially include expanded lodging, retail, entertainment venues and marina-related amenities tied to Lake Texoma’s recreational appeal.
As timelines firm up, the project will be closely watched as one of the largest resort developments in the region, with the potential to reshape tourism patterns across North Texas.
Originally reported by Aayush Gupta in WFAA.
