How about adding a peninsula in a favorable place? (Assuming your excavated material is not runny slop.)
It could be used as a good shore fishing spot for kids, scenic spot to place a bench for your wife, wave break to stop fetch in the direction of your prevailing wind, etc.
If you cut back the shoreline just a little approaching the peninsula, then you could have the same surface acres and an easy spot to place your excavation spoils.
