DENISON, Texas (KTEN) — The Denison City Council approved a residential project on the shores of Lake Texoma that's been in the works for more than two decades at its meeting Monday night.

Preston Harbor was the pet project of the late North Texas developer George Schuler, working in conjunction with Denison for 20 years. The Council gave the green light for development company Craig International to buy the land and begin the planning process.

"It's been long coming," said Denison Mayor Janet Gott. "It was the dream of George Schuler, and we lost George in April, so we are all committed to making George's dream come true."

The resort will sit on 3,100 acres northwest of Denison. Plans include more than 7,000 homes, a private marina, and a town center for events. Gott said Preston Harbor will nearly double Denison's size.

"You can imagine a day planned out in Preston Harbor which will include a golf cart ride to the marina for a cup of coffee; a morning fishing excursion; hiking, walking and biking on the many trails throughout the community," said Craig International executive Miles Prestemon.

Also on Monday's city council agenda: Swearing in new council member Josh Massey as two other members reached the end of their two-term limits.

"The whole purpose of term limits is so that you can get others engaged, and you get new and fresh ideas," Gott said.

One election has yet to be decided: The Place 5 seat on the council, currently filled by Kristofor Spiegel. Neither candidate secured more than 50 percent of the vote, so the city declared a run-off.

Early voting in that election starts Tuesday, May 30, and Election Day will be June 10.

Speigel will continue to represent Place 5 until the election is decided.