A partnership known as Waterfall Development has closed on a 3,114-acre land purchase for a $6B master-planned community that plans to build 7,500 new homes, effectively doubling the population of Denison, TX, which is about 75 miles north of Dallas.
The venture is led by McKinney, TX-based Craig International, with general partners including Horizon Capital Partners, also based in McKinney; Texas-based investor N9 Capital Partners and the Choctaw Nation of Oklahoma.
The project, known as Preston Harbor, will expand the west side of Denison and include 9.5 miles of shore frontage on Lake Texoma, a 90,000-acre man-made lake that was created on what used to be Preston, TX.
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