A lagoon with canals navigated by water taxis, and a mile-long promenade. It might sound like Venice, however, we’re talking about Prosper, north of Dallas. Here, developer Jeff Blackard has unveiled “The Marco,” a Venice-inspired village that would cost billions of dollars to build.

The site lies at the northeast corner of US 380 and the Dallas North Tollway, currently nothing more than an open field. Blackard considers it one of the most valuable development sites in America, perhaps the world, in an area where the Texas real estate market is booming faster than anywhere else. The project calls for homes, condominiums, apartments, shops, restaurants, and a performing arts center operated by the city and local schools.

If all goes according to plan, the village could become a reality within five years. This would not be the first time Blackard has brought Europe to Texas. He has already built Entrada in Westlake, inspired by Spain; Seaside Village in Corpus Christi; and Adriatica in McKinney, a village modeled on Croatia. The idea is the same: neighborhoods where $2 million homes coexist with senior living facilities and apartments, allowing even restaurant waiters to live just a few steps from work. The developer is convinced that this model will last for centuries, rather than the usual 30 years before buildings are demolished.

The project has the backing of Mayor David Bristol, who describes it as potentially “generational,” provided the city council approves the zoning changes. Blackard has even bigger ambitions: if the project succeeds, he says, many more will follow. Venice, in other words, as an exportable model. In Texas, Italy is arriving not just through pizza, but through canals, too.