MUSKEGON, Mich. (WZZM) - Muskegon City Commissioners are approving a $14 million residential development in the city's downtown area.

Terrace Point Landing will be built on 11 acres along Muskegon Lake. The property is between the Shoreline Inn and Grand Valley State University's Alternative Energy Center.

With the commission's approval, the owners of Parkland Development will move ahead with plans to build 70 single-family condo homes on the property. It's the largest housing development in downtown Muskegon in a decade.

"Small homes in a highly-amenitized project at a affordable price that will be high quality," says Jon Rooks of Parkland Development. "Two, three, and four-bedroom homes with two-and-a-half or three baths, with great views of Muskegon Lake."

28 homes will be built directly along the lake. The project includes a private beach and pool.