It maintained that major improvements to the East Hill junction of the dual-carriageway A30 will bring new homes, work space and community facilities to Pool in west Cornwall with potential to create 2,000 jobs.
CPR Regeneration - the urban regeneration company for Camborne, Pool and Redruth - has been negotiating over the past 18 months to buy the land needed. The construction works are being managed by Cornwall County Council together with the Highways Agency. The project should be completed by the end of next year.
CPR Regeneration chief executive Nigel Tipple said: "We have been working hard to assemble all the necessary land for this vital project and it means that we can soon proceed with a number of planning applications aimed at creating new work space and homes in Pool."