Foodies in Cambridge have a new place to look forward to next year, as one developer’s plans of reopening a restaurant in the area are now in full swing.

Cambridge City Council has given the go ahead signal to Pearle Hospitality Inc. for the construction of a new of a new addition to the Cambridge Old Mill Restaurant, which used to be formerly the Mill Restaurant.

The City Council which came to an agreement on Monday this week, gave its seal of approval for the private developer to get the necessary paperwork—tax certificates, building permits and the like—done and prepared for the rehabilitation and reopening of the former stone mill located along Water Street and Park Hill Road.

For close to two years now, Pearl Hospitality Inc has been trying to acquire land and get the necessary approval from Cambridge to renovate what use to be the Riverbank Restaurant. The developer also owns and manages Ancaster’s Old Mill Restaurant and Burlington’s Spencer’s at the Waterfront.

After getting the green light to start their plans, construction for the project is slated to begin by winter this year. The restaurant is set to open around spring of 2011.