ROWLETT -- Its still years away from completion, but neighbors in Rowlett are already noticing the changes that will become "Bayside."

It’s the beginning of an ambitious, $1-billion mixed-use project on the edge of Lake Ray Hubbard that will include a marina, hotels, shops, and restaurants.

The signature element is an eight-acre blue lagoon -- the equivalent of 10 football fields worth of water.

"It's absolutely fantastic,” said Rowlett City Manager Brian Funderburk.

A aerial look at some of the land that will eventually become Bayside in Rowlett.

Funderburk says it’s a project three years in the making, and once complete, it will increase the tax base by one-third.

"We're going to have an entertainment venue that Rowlett has never had," Funderburk said.

Rowlett City Manager Brian Funderburk

Heavy machinery was already in motion on the former Elgin B. Robertson Park on Thursday, preparing a part of the 257-acre property for the project.

The park used to be owned by the City of Dallas, but was transferred to Rowlett in an arrangement that included a $32-million purchase of the land by developer Kent Donahue.

The project will be called Bayside, and will include over 1 million square feet of office, retail, restaurant, and entertainment space.