If, they wanted to spend the money, they could stop the lagoon further out and basically make that area a pool similar to SAB. Now would they do that, probably not because of the cost and oh my goodness how hard would it be to keep people out of it, unless it was completely fenced.
But it could be really cool and even put Koi and such in it.
I think if they build over the water it will all be Grand Villas.
Don't some of the BCV go over the canal?