Asheville Boom

Feverish economic development is not new to Western North Carolina.  The arrival of the railroad in Asheville triggered a boom that resulted in the construction of over 65 new commercial buildings in the 1920s.  By 1927, the real estate market was slowing down.  Local banks were overextended and the boom finally turned bust with the arrival of the Great Depression in 1929.  Bank closings, bankruptcies, and evictions were widespread and the city government faced enormous debts that took almost 50 years to pay off.  On the other hand, the dramatic economic decline that hindered construction for several decades, ensured the survival of many historic buildings that are now hailed as architectural gems and that have contributed significantly to the revival of downtown Asheville as a popular tourist destination.

Multimedia:

Below is the Digital Heritage Moment as broadcast on the radio:

Audio clip: Adobe Flash Player (version 9 or above) is required to play this audio clip. Download the latest version here. You also need to have JavaScript enabled in your browser.

Related Posts

  • Railroads in Western North CarolinaRailroads in Western North Carolina Early in the 19th century railroads were being built throughout the expanding United States. Western North Carolina was growing as well. Asheville, a crossroads for agriculture, was also […]
  • George W. VanderbiltGeorge W. Vanderbilt
  • Buncombe TurnpikeBuncombe Turnpike The Buncombe Turnpike was the interstate highway of its day. Completed in 1828, it connected western North Carolina with Tennessee and Kentucky to the west, and the cities of Augusta, […]
  • All Souls Episcopal ChurchAll Souls Episcopal Church George Vanderbilt established All Souls Episcopal Church in 1896 to serve the workers on his Biltmore Estate near Asheville. The church was the centerpiece of the village he constructed […]
  • Notable MoviesNotable Movies