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 create a one-of-a-kind residential community in fast-growing Grayson
County.
Centurion American’s acquisition includes approximately 550 acres within the Preston Harbor
development. Of that, roughly 338 acres are planned for 1,184 residential lots, ranging from 50- to 60-
feet. An additional 211 acres will feature 115 estate lots, each measuring approximately a half-acre to 7-
acres—many offering scenic lake and greenbelt views.
The project reflects a real synergy between two of North Texas’ most impactful developers.
“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. “I can’t imagine anyone
better suited to bring this unique single-family project to fruition than Mehrdad Moayedi. There
is no one else in North Texas who can create the type of luxury lifestyle that Preston Harbor
represents. Together, we’ll create something that will help redefine the region and enhance the
quality of life for residents and visitors alike.”
Preston Harbor is a 3,114-acre parcel in Denison encompassing 9.5 miles of shoreline along
beautiful Lake Texoma, including several tributaries. 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.
Additional acreage is designated for school campuses for Denison ISD as well as fire and police facilities.
Further development will include multi-residential as well.
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.
“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.
