Moody Street Development Approved

The Waltham City Council on Monday approved a major redevelopment project for the corner of Main and Moody Streets know as 1 Moody St., according to the city clerk.

The Council approved the project unanimously during its Wednesday night meeting. 

The project includes tearing down the 1 Moody St. office building, the Citizens Bank building and 55 Moody St. In its place, a new 269-unit luxury condominium complex and mixed use retail center would be constructed. 

The approval comes after a recent Oct. 9 meeting of the city's Rules & Ordinance Committee that ironed out minor details of the project, according to City Councilor Ed Tarallo. 

Developers are aiming to complete construction within two and a half years, according to the Boston Globe.