DENISON, Texas (KTEN) — The Preston Harbor development got the green light to move forward on Monday night. The Denison City Council conducted a public hearing to take action to rezone the requested land for the massive project.

The development encompasses more than 3,000 acres of land in the northwest corner of the city along State Highway 84 and FM 406.

Plans for Preston Harbor include 7,500  homes, a Maragritaville resort and hotel, retail stores, restaurants, and a marina on Lake Texoma.

The Preston Harbor development has been in the works for more than a decade, and it could eventually double Denison's population.

In 2013, the property was annexed into the city as agricultural land. On Monday night, the city council approved the property to be used as a mixed-use development.

To make sure all parties involved are on the same page, a plan development document was created to outline all project details.

"The developer has things that they have to do, and we have requirements that we have to meet in order to uphold that development agreement," said Mary Tate, the city's director of Development Services. 

Groundbreaking for Preston Harbor is planned for later this year. Construction is expected to take five to 10 years.

"It's just a really exciting project that a lot of people have worked very hard on for a number of years... decades," Tate said. "It's exciting to see it come to fruition."

An artist's rendering of the Preston Harbor project in Denison.