LBC Boston Partners Properties earned unanimous approval from the Quincy City Council to develop a new mixed-use project in downtown Quincy, MA called Nova Residences of Quincy.

LBC plans to raze the existing property at 1500 Hancock St. by the end of next month to make way for the new development, a $40 million project that will consist of 171 apartments and 15,000 square feet of retail and restaurant space.

The project was greenlit after an…