Project Spotlight: Municipal Utility District
Preston Harbor
Preston Harbor, a $6 billion development in Denison, Texas, spanning 3,114 acres with 9.5 miles of Lake Texoma shoreline, is designed to expand residential capacity and enhance regional tourism along Lake Texoma.
Scale
3,114 acres with 9.5 miles of shoreline
Residential Development
7,500 projected homes
Population
20,000 projected residents at build-out
Amenities
Margaritaville resort hotel and conference center, retail, restaurants, and a marina.
The Challenge
Preston Harbor’s scale and location required a coordinated public-finance structure capable of supporting phased development across thousands of acres while balancing municipal interests, infrastructure timing, and long-term fiscal sustainability. Supporting both residential growth and destination-driven economic development required careful negotiation with the City of Denison and the creation of flexible, transparent tools that could adapt as development progressed.
The Solution
The establishment of a Tax Increment Reinvestment Zone (TIRZ) and a master district system, including an initial participant district, enabled regional infrastructure to be financed through a combination of tax increment revenues and contract taxes levied by participant subdistricts.
ABHR’s Role
The firm negotiated an amended development agreement with the City, establishing terms of a TIRZ and providing municipal consent to finance public infrastructure. Additionally, ABHR established the master district system, and created the initial participant district, covering 500 acres.