A $450 million community in the works north of McKinney will have 1,200 homes built around a manmade lagoon.

Dallas-based Megatel Homes’ Venetian Lagoon community will start with 204 home sites.

The project is in the town of Weston, west of US. Highway 75.

Houses in the Collin County development will range from $250,000 to $500,000. There will also be 300 apartments.

“The development of this lagoon community is a perfect illustration of Megatel Homes’ innovative thinking and out-of-the-box mentality,” Megatel founder Zach Ipour said. “The Venetian Lagoon community presents residents with a unique and luxurious waterside living experience in a suburban Texas location.”

Ipour said construction of the lagoon will start within 60 days. “The lagoon will be open before our model homes will be open” later next year, he said.

The single-family homes Megatel plans to build will range from 1,200 to 3,500 square feet.

The entire project will have 1,200 houses.

There will be a 15-acre complex with an entertainment center, a clubhouse and a bowling alley. The lagoon area will include a swimming pool, cabanas, sand beaches and kayaking.

“We are building a massive clubhouse with a gym and a full-time restaurant,” Ipour said. “It will be a place where people can hang out and enjoy living in the suburbs.”

The Venetian Lagoon will cater to homebuyers who want to relocate to less dense areas.

“After the pandemic, we realized people are moving out of apartments and moving into homes to take advantage of low interest rates,” Ipour said. “And companies are allowing their employees to work from home.”

Ipour said Megatel bought the land for the Venetian Lagoon community about 90 days ago and is negotiating to expand the project with more property purchases.

Founded in 2006, Megatel Homes has built more than 100 North Texas communities and has more than a dozen in the planning stages.

Twitter: @SteveBrownDMN