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AVEW Holdings Inc. Signs Letter of Intent to Develop a Major Multi-Million Dollar Real Estate Development Project

Source: eTeligis
AUSTIN, TX(Eteligis Inc.)
AUSTIN, TX, United States, via ETELIGIS INC., 12/16/2014 - - AVEW Holdings Inc. (OTC: Pink: AVEW) (PINKSHEETS: AVEW), today announced that the company entered into a Real Estate Development Project in Austin Texas with D2 Investment, Inc. of Dallas Texas. The project will be called Lazy Creek Development and will consist of 37.75 residential acres, 13.13 multi family acres, and 5 commercial acres. The initial development project is estimated at 10 million dollars at lot infrastructure completion, which is scheduled to complete in November of 2015.

AVEW Holdings Inc. Custom Builder Division, Tarragon Homes will be constructing 150-200 homes starting the in fourth quarter of 2015. The estimated home construction project is in the range of 25 to 35 million dollars over an 18 month construction period.

Engineering and platting is currently under process by D2 Investment in conjunction with AVEW Real Estate Development Division.

Mr. Jim DePetris, C.O.O. of AVEW Real Estate Development stated, "The project is located in one of Austin, TX growth sectors and sits between U.S Highway 183 and U.S Highway 290. The real estate wraps around LBJ High School, which sits on a 12.23-acre parcel. On the west side of U.S 183 new commercial and housing subdivisions have been developed over the past five years."

Mr. Jose Chavez, CEO stated, "We are truly excited about the opportunity to partner with such a prestigious and experienced developer such as D2 Investment, and CEO, David Davis. Currently AVEW has a verbal pre-approval for development funding on this project and other projects. Funding specifics will be forth coming in the near future."