Last Friday the site on Academy Road was sold to company CHI Investments.
And planning permission to create 41 flats and 75 parking places at the location was also submitted to Dumfries and Galloway Council.
The applicants want to create two new detached blocks and partially demolish the rear of the school to make way for the development.
Commenting on the bid, Annandale North Councillor Stephen Thompson said: “What Moffat needs is appropriate development in the right places, and the council’s planning officers will assess the submitted applications for the old Academy site against the Local Development Plan.
“No one wants to see the site derelict and there is considerable interest in what is being proposed.
“The Community Council and interested residents can exercise their opportunity to feed back their views on the application to the planning department.”
Meanwhile the sale of the site includes ‘clawback clauses’ put in place to ensure that the old Moffat Academy will not meet the same fate as ‘shabby’ Lockerbie.
The clauses give the council the option to purchase the property back at the original sale price in the event that planning permission is not obtained within a year, or if development does not proceed within two years of permission being obtained.
But the news of the sale as been welcomed by many in the town.
Dumfries MSP Oliver Mundell, who lives in Moffat, said: “Development on the old Moffat Academy site has been long overdue so it is welcome that there is going to be investment on a major site in the town.
“What I hope to see if planning permission for flats is given the green light is that these will be affordable homes for people living in the Moffat area.”
He added: “Having access to affordable housing is absolutely key for towns like Moffat to boost the economy in the rural area.
“I’m sure local people will be happy to see progress on such an important site at long last and I hope that we will begin to see movement at the old academy as soon as possible.”
