Skip to main content

East Spencer is enjoying a long-sought real estate boom

EAST SPENCER, NC (WBTV) — The small town of East Spencer in Rowan County is experiencing a construction boom. After going ten years without a single new home being built and sold, there are now 15 new homes in various stages of completion with plans for more on the way.

Jerry McLellan and his wife Cathy live in Linwood, Davidson County, but are considering buying one of the new homes being built on E. Henderson St. in East Spencer. Jerry says the key is affordability.

“The real estate boom is going crazy,” McLellan said. “You can’t… for a little man even to afford a house, it’s $200,000 or more, you’re looking at payments of at least $1,300 or more and if you have a man who only earns 60 at 70,000 a year, it’s really hard for him to get into a house like these, but these are more affordable all the way, they’re $200,000.

These homes are built by All-Pro Development.

“We try to make really nice homes, affordable homes, we make granite countertops, luxury vinyl, wood cabinetry and I feel like no matter the price, everyone deserves a home he can be proud of,” All-Angelo Tillman said of the pro. “Right now, affordable housing, a lot of people aren’t doing affordable housing, you know, and nobody’s doing anything at that price, but first-time home buyers, they need things at that price.”

All-Pro is one of two developers building new homes in East Spencer, and town leaders couldn’t be happier. Ask Mayor Barbara Mallett.

“Oh wow, we’ve been waiting, we’ve been waiting for years, we’ve been planning for this between water/sewer, better zoning, code enforcement, we’ve tried to do everything we can to make sure we we’re ready when the time comes and we’re ready,” Mallett said. “We’ve positioned ourselves for that growth and for what’s here today…we’ve positioned ourselves.”

Cabarrus County PresPro Homes is also building here.

“Whenever our company says we’re going to do something, we do it,” said PresPro’s John Lambert.

And it did, according to Mayor Mallett.

“So here we are, 4-5 months later and we actually have a house coming out of the ground,” Mallett added.

Mayor Mallett says there’s something infectious about the new development in that it inspires existing owners to make renovations or clean up the property. She says it’s an exciting time for this town of just over 1,500 people.

Copyright 2022 WBTV. All rights reserved.