Centurion American Bringing 1,200 New Homes to Preston Harbor Development on Lake Texoma

Two of North Texas’ best-known developers announced yesterday plans for 1,300 new homes at Preston Harbor, an expansive master-planned development on Lake Texoma, where entertainment resorts and new housing communities are shining a spotlight on the Texas Oklahoma border.

Mehrdad Moayedi’s Centurion American Development Group will partner with David Craig’s Craig International, the master developer behind the 3,114-acre Preston Harbor community, to create new homesites across roughly 550 acres in Denison. The project includes more than 1,100 traditional single-family homesites ranging from 50 to 60 feet, along with 115 estate lots spanning from half an acre to 7 acres — many with views of the lake or greenbelt.

“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,” David H. Craig, CEO of Craig International, said in a release. “I can’t imagine anyone better suited to bring this unique single-family project to fruition than Mehrdad Moayedi.”

Craig International, perhaps best known for developing the $5 billion Craig Ranch in McKinney, will lead the overall vision for the project, while Centurion American — led by Moayedi — will handle the residential buildout. Centurion has developed more than 200,000 single-family homesites across North Texas and recently completed communities like Mercer Crossing in Farmers Branch and The Station in Sachse.

Centurion’s portion of Preston Harbor will include a variety of housing types aimed at full-time residents, second-home buyers, and remote workers seeking a lifestyle tied to nature and lake access, the company said.

“Preston Harbor is one of the most impactful developments in the state of Texas today,” Moayedi said in a release. “Preston Harbor is poised to be one of the premier residential developments not only in North Texas but across the region.”

The broader Preston Harbor community is designed as a lakefront destination, with plans for a Margaritaville Resort Hotel, marina, retail, restaurants, multifamily housing, and dedicated land for Denison ISD schools and first responder facilities. The entire development will be linked through a network of trails and golf cart paths to encourage walkability and active living.

Groundbreaking on Centurion’s residential phase is expected in Q3 2025, with lot deliveries projected before the end of 2026.