The plans, which were first proposed in 2003 by developer Wilmar Ltd, will see the development of a championship standard parkland golf course, a luxury hotel with leisure facilities and houses.
Mr Lunn praised the Planning Committee for removing the planning restriction which was holding up progress on this development.
Speaking after the planning meeting Mr Lunn, who has supported the development since 2003, said: “This is a very welcome and important decision by the Committee, which clears the way for an investment of around £60m into our City area.
“The benefits in terms of jobs, training opportunities, tourism and rates income will be huge and the proposal has been given a very warm welcome by businesses and interested parties across Lagan Valley and beyond.
“We will finally see a much needed luxury hotel and a championship standard parkland golf course with top class leisure facilities attached, hopefully ready for use by 2019.”
Mr Lunn also commended the cross party planning committee members who combined to give the decision unanimous approval.
He said: “After the disappointment around the John Lewis plans and the frustrating lack of progress at the Maze site, this is a real boost to the local economy. When finished, this resort, along with Down Royal racecourse, Hillsborough Castle and eventually Maze development, together with many other local facilities, will move Lisburn forward dramatically as a tourism and business destination.”