The recession may be nearing an end, at least in Chapel Hill.

The development moratorium the Town Council enacted in 2007 in response to feverish activity near N.C. 86 and Interstate 40 got a de facto extension as the credit markets collapsed in 2008.

But the moratorium is over, and developers all over town have submitted new proposals in recent months, including one giant subdivision on Homestead Road and one gargantuan mixed-use project across from Southern Village.

Capkov Ventures plans 1,200 multi-family housing units and 570,000 square feet of commercial space, including a hotel. The project, dubbed Obey Creek, would comprise 120 acres with three access points along U.S. 15/501 South near Market Street and Southern Community Park.

Capstone Development Corp., meanwhile, plans 330 homes in 137 buildings, including single-families, townhomes and apartment-style units. If approved, The Cottages subdivision would sit on 33 acres with 1,175 parking spaces.