$200M Cannon Beach Clears Surf-Lagoon Excavation Milestone
Rough excavation of the surf lagoon is complete and underground utilities are progressing at the planned resort. The lagoon package and the wider $200M development carry different costs and schedules.
Cannon Beach has reached a visible construction milestone in McKinney, with rough excavation of its surf lagoon complete and underground utility work progressing. An October 2 developer update, reported October 5, places the hospitality and entertainment development beyond its initial earthmoving stage while leaving substantial construction ahead.
The approximately $200 million development is planned for the northeast corner of State Highway 121 and Stacy Road. Its lagoon is the central attraction, but the wider scheme brings together hospitality, recreation and commercial uses. Finishing the excavation is an enabling milestone, rather than completion of the pool or confirmation that the resort is ready to open.
Project at a Glance
- Overall development:
- Approximately $200 million
- Location:
- SH 121 and Stacy Road
- Latest reported milestone:
- Lagoon rough excavation complete
- First-phase opening target:
- Late 2027
Cannon Beach: delivery team and construction timeline
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Explore the lagoon package, development milestones and planned contractor role in the full Project Insight.
A lagoon package within a larger development
The September 29 state registration for Cannon Beach Surf Park identifies a $6 million lagoon-pool scope covering 143,445 square feet. It lists December 1, 2026 through March 1, 2027 as the estimated construction window. Those figures describe the registered pool package, not the entire resort investment or its public opening date.
The filed area equates to approximately 3.3 acres. Public-facing tourism material describes a four-acre lagoon, while the developer’s latest reported update refers to a roughly three-acre pool. These descriptions should not be treated as interchangeable engineering measurements. The registered scope provides one defined area; a final as-built water surface has not been verified.
How the project reached the current stage
McKinney’s records trace the development partnership through a May 20, 2025 Chapter 380 and infrastructure grant agreement. A subsequent city record says construction began in December 2025 and identifies a December 23 sale of approximately 36.63 acres, financed through a promissory note to the economic development corporation.
The city’s September 2026 budget proposal concerned approximately $20.87 million of land-sale proceeds and milestone-based credits against that note. That structure matters: a budget appropriation linked to a development agreement is not evidence that an equivalent construction contract was awarded or that the same amount has already been paid to builders.
The opening plan extends beyond the excavation
Visit McKinney currently targets a late-2027 first-phase opening. Its published program includes the surf lagoon, beach and cabanas, with broader plans for a resort hotel, recreation, restaurants and office accommodation. The tourism description markets the overall development at approximately 35 acres, a rounded project description distinct from the city’s land-sale acreage.
TCH’s construction assessment is that the next meaningful evidence will concern the finished lagoon structure, water-treatment and wave systems, permanent utilities and commissioning. Excavating the basin creates the space for those systems, but does not establish their installation or operational readiness. Similarly, a pool-package completion target should not be substituted for an opening date covering public access, surrounding facilities and operating approvals.
Delivery roles and the next milestones
The project’s city-filed application sets out a planned delivery approach. Our member Project Insight distinguishes that documented intention from a subsequently confirmed contract appointment and follows the development through its agreements, construction start and current earthworks update.
Future updates should establish the transition from underground work to completed structures, identify which amenities form the opening phase and reconcile the pool filing with the broader operating timetable. Those milestones will provide a clearer measure of progress than treating every part of the $200 million proposal as a single construction package.