Image courtesy David M. Schwarz Architects

Redevelopment and expansion of the former Santander Bank branch building in West Newton will create 50 apartments in a project approved for Mark Development.

The Wellesley developer received approval from the Newton City Council on Tuesday for the project, which includes a 3,800-square-foot restaurant and 50 underground parking spaces.

The restaurant will occupy part of the original bank building, while a 70,000 square foot addition will house the apartments, including a 15-percent income-restricted portion that will be reserved for households earning 50 to 80 percent of area median income.

The project will include a 50-space underground parking garage.

The site includes three parcels at 1315 Washington St. and 31 and 33 Davis St., which were rezoned by Newton city councilors last fall for mixed-use development.

Mark Development also has agreed to purchase the West Newton Cinema property at 1296 Washington St. The theater will remain open at least through the end of 2023 and potentially be included in a redevelopment under a different operator, according to a statement from owner David Bramante.