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Crosland LLC, based in Charlotte, hopes to build apartments, townhomes, hotels, offices and retail stores on about 300 acres in Johnston County.
The development would be located near the intersection of Interstate 40 and Highway 42. And it could create hundreds of new jobs, according to spokeswoman Julianne Smith-Hamilton.
The Johnston County Commission approved a rezoning request from the company Monday night.
The development would be one of Johnston County's largest, said Johnston County Planning and Zoning Director Berry Gray.
Few people have opposed the plan.
"Sounds good to me," said barber Ricky Edwards, who works near the property. "The more exposure, the better for us. The more people that come in, the more work we get."
A study says about 25,000 more cars will drive through the area if the development is built, according to the county's planning department. But the developer has agreed to pay for turn lanes and for widening roads. The North Carolina Department of Transportation would also change the timing of lights on Highway 42, Berry said.
But there's still a long road ahead. The developers don't expect to break ground on most of the project for another three years.
Before they start construction, they have to find tenants and lenders.
The company hopes that it can build most of the development by 2015, Smith-Hamilton said.
Crosland LLC has built shopping centers and homes in Cary, Chapel Hill, Durham, and Raleigh, among other places.

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By FIAT_ECONOMY on 10/08 07:21 PM
Ugh - developers, just stop...please...more CDO's for Goldman to sell...more CMBS to slice and dice...what a rat race...another 5% developer fee for Crosland...clean up the mess we have as a country prior to new residential and retail projects...
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