Lake Lure is a town in Rutherford County, North Carolina, United States. Lake Lure was incorporated in 1927, and acquired the lake after which it is named in 1965. The plans for development came to a halt in 1929 with the advent of the Great Depression.
A mortgage-holder, Stroud & Company of Philadelphia, foreclosed on the lake and the dam. Stroud owned them and the power the dam generated until 1965. In 1963 the North Carolina General Assembly enacted the legislation that authorized the Town of Lake Lure to issue revenue bonds for the purpose of acquiring the assets from Stroud. The dam, power company, and real estate of Lake Lure were acquired by the Town of Lake Lure in 1965.