DENISON, TX - It's an ongoing story and many area residents have questioned just what is going on with Schuler Development. And now as the project moves forward into the second phase of environmental impact study, city officials say developers have the green light to continue.

"It's got a lot of promise but it's very complicated and a lot of time's been spent on it to get to this point," said Tony Kaai, President of the Denison Development Alliance.

Denison city officials say even though it's taken several years, the Schuler Development on Lake Texoma is still moving forward.

"It's a huge deal for the City of Denison and for the county, and that's why we're putting in the effort because we realize how big it could be," said Denison Mayor Robert Brady.

Plans for the 2,400-acre housing development and resort are far from a stand still. In fact, they're now working to meet the Army Corps of Engineers' requirements.

"Now they'll start into the secondary phase which would be the impact on the lake itself, which would be drainage and erosion and those types of things," said Brady.

Developing such a large scale project has been about 10 years in the making, complicated by city boundaries, taxes and land purchases.

"We haven't had experience with this kind of project before so the learning curve was pretty steep for us," said Brady.

But both Brady and Kaai say the possible $1 billion in revenue it could bring in for the city is worth it.

"Yes they're going to be high income; obviously that's what we want in this area because that high income you know goes back to main street and sales tax and other amenities we have in this community," explained Kaai.

Now with the end in sight, even if it is two or three years away, the question is – is there a chance of failure for this big time project?

"There's always a chance it could fall through, it could stop tomorrow. The developer could say I'm finished and walk away. Now he's invested a lot of money, millions to this point and the city's invested a lot of time and effort, so yes there's always a chance, there's not a project that we work on that can't just immediately go away," said Kaai.