EAST SPENCER, N.C. (WBTV) - A major economic development and affordable housing project in the town of East Spencer is being announced on Wednesday.
According to developer Kenneth Fox, functionally obsolete commercial properties, the lingering effects of a decimated manufacturing and textile economy, low municipal budgets, and the lack of educated, skilled and semi-skilled labor forces, have hurt areas like East Spencer.
On Wednesday a groundbreaking will be held for the Dunbar Village at East Spencer, located at 820 S. Long Street on the former property of the Dunbar Center.
Located within an “Opportunity Zone” (http://www.dunbardevelopment.com/opportunity-zones/), the Dunbar Development Company is co-developing the property with DIVA Construction Company.
According to a press release, the Dunbar Village at East Spencer aims to be the hub of education, economic development and entrepreneurship.
“Our philosophy is simple: We’ll use our passion for and knowledge of economic and real-estate development and fiber infrastructure development to help our stakeholders improve the economic value of their citizens and residents. We live and breathe economic development, real-estate development and fiber infrastructure deployments. So now we’re asking East Spencer and Rowan County to let our obsession translate to an improved economy and access to digital equality by their citizens and residents.”
The Dunbar Village at East Spencer will deliver over 45,000 square feet of flex-space and community services space; outside of the 30,000 square feet designated as educational space for both in-person and on-line active learning.
Phase II of the project is poised to deliver affordable housing to the market that is in alignment with the LMI (Low-To-Moderate Income) parameters of the Department Of Fair Housing And Labor.