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WINTER GARDEN, FL-In the first new construction in 18 years at the revitalized Village Grove community here, Greveco Development of Venezuela has broken ground on a 31-unit townhome project whose first eight-unit phase is already 100% pre-sold for $1 million at average per unit prices of $121,000. The development is off Park Avenue on Lime Road.

This is Greveco’s first project in the US. The company is developing the project for Crea Enterprises Inc., a local firm with strong South American business ties, area brokers tell GlobeSt.com. Winter Garden is six miles west of Downtown Orlando and is considered by brokers, consultants and developers as one of the fastest-developing submarkets in Central Florida.

Locally based Vance Realty Group is marketing the undertaking. Prices currently range from $109,900 to $133,000 but broker Barbara Killian anticipates a price increase based on “overwhelming response to the project’s first building.”

Killian says she has “a long waiting list of interested buyers that include first-timers and young, single professionals.” Three different two-bedroom and three-bedroom plans offering 1,000 sf to 1,600 sf of living area are available.

Killian says “right now, the only thing interrupting the project’s sales momentum has been a shortage of concrete, which has put much of the area’s new home construction on hold.”

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