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CITY INKS DEAL FOR MAJOR DEVELOPMENT PROJECT
Article By: by
Denison Chamber of Commerce
Posted: 3/22/2013 Views: 502 Impressions: 12595
Categories: Business, Government: City, Government: County, Home Life, Local News
Posted: 3/22/2013 Views: 502 Impressions: 12595
Categories: Business, Government: City, Government: County, Home Life, Local News
Denison, Texas - The City of Denison announced today a major milestone for the Preston Harbour Development on Lake Texoma. The United States Army Corps of Engineers (USACE) executed a deed transferring 600 acres of lakeside property on Lake Texoma to the City. The land conveyance is the key to a 3,000 acre lakeside development by Schuler Development that will create more than $1.9 billion in new investment in the City of Denison. The city and Schuler Development have been working on the planned, high-end development on Lake Texoma for more than 12 years.
"This is one of the most significant events in Denison's history and it will shape our future. It has been a complicated process. It literally took an act of Congress to make this project a reality," said Mayor Jared Johnson. "Denison has been blessed in the last few years with a new hospital, new school facilities, expanding industries and now we have this development that will bring hundreds of millions of dollars in new investment and job opportunities for our citizens," he added.The developer, Schuler Development, spent more than a decade planning and working with officials, and ultimately the Water Resources Development Act of 2007 (WRDA 2007) was approved, authorizing the Secretary of the Army to convey the property to the City of Denison.
"It's been a pleasure working on a project so important to Grayson and adjoining counties. This day of success was spawned by officials at the precinct, county, state, and federal levels working together. The rewards of this cooperation will benefit future generations, highlight the greatness of Lake Texoma and surroundings, and will result in an estimated two billion dollars in new investment," said Congressman Ralph Hall. "I laud Schuler Development, the leaders in the cities of Denison and Sherman, the former Secretary of the Army Pete Geren, and the Corps of Engineers. The final signature from Brigadier General Tom Kula is the culmination of hard work by all concerned, and the creation of a premiere lakefront development bodes good news for the people of North Texas and a place of beauty that they and their children can enjoy," he added.
"This land transfer symbolizes the strong partnerships that exist between the Army
Corps of Engineers and our local governments and communities. We are happy to have played a contributing role in this endeavor, which is one more example of how the Corps touches the lives of the American people every day," said Brigadier General Kula.
This remarkable land is envisioned to become a vibrant mixed-use development and an incredible asset for the City of Denison. The vision is to create a truly extraordinary community with a host of waterfront amenities, all within an hour north of Dallas.
"The moment I saw this magnificent property, I knew it was something special - that it had the potential to be a topnotch development and a focal point for the community," said George Schuler, founder of Schuler Development. "From the pristine panoramic lake views, to the dramatic cliffs, to the beautiful rolling vistas, I'm eager to incorporate the area's distinctive visual, historic, and natural features into a development that will become the premier lakefront destination in the region."
The next step for the development will be an intensive, participative planning process in which Schuler Development will work directly with a multidisciplinary design team - including planners, architects, designers and coding experts - to define a collective vision for the development. The high-end 3,000 acre development is situated along nine miles of Lake Texoma shoreline on the east side of the Little Mineral Arm. City officials have hailed the development as a key to Denison's economic future.
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