The Westbrook Planning Board Tuesday unanimously approved a multistory, mixed-use complex with 110 residential rental units near the Presumpscot River in the city’s downtown.

Quaker Lane Associates of West Hartford, Connecticut, is the developer. “We’ve got the green light,” a jubilant Matthew Welter, principal and founder of the firm, said in a brief comment outside the meeting room after the board’s approval.

The multifamily development will feature three interconnected buildings with 76 one-bedroom units, 25 two-bedroom units and nine studios.

The project will be built on property at the end of Dana Street and on an adjacent 3.4-acre parcel Welter is buying from the city. Under the deal, Dana Street will become an entrance into the development and will cease as a public street. The street will have two walkaways with landscaped islands leading to the development.

The vacant, former American Journal building on Dana Street will be razed.

The development will also include a restaurant with an outside seating area and the walk along the river will be extended. The site’s border with Saccarappa Park will be landscaped.

“It looks beautiful,” Planning Board member Oriana Farnham said during Tuesday’s meeting.