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Scottsdale-based Meritage (NYSE: MTH) got approval from Mebane City Council on June 3 to go ahead with a 409-home project in what's considered the fastest-growing municipality within the Triad area.

City Council agreed to extend the Mebane city limits to include the 54-acre site for the Oakwood subdivision planned by Meritage Homes of the Carolinas, a subsidiary of the Valley-based builder.

Plans previously approved by Mebane call for 275 single family home lots and 134 townhome units on a net of about 134 acres. The site is east of downtown on Washington Street to the north, with connections on the east to Mattress Factory Road and to the west at Oakwood Street, in the Orange County portion of the city.