JUNO BEACH,
Fla., Oct. 20, 2014
/PRNewswire/ -- ValueRich, Inc. (Symbol: VRCH) ValueRich owns and
operates real estate assets in Florida, including two communities named
Ravello and Visconti. The
communities are comprised of 440 build-ready lots located in
Port St. Lucie,
Florida.
VR Preserve Development Group, LLC (the "Company"), a
subsidiary of ValueRich, Inc., signed a Joint Venture Agreement
with Neandross Development Group, LLC ("Neandross") to build 65
single-family homes on the 65 Visconti lots owned by the Company.
The development will be named Visconti and the size of the homes
will range from 2500-4000 square feet. The architecture will
resemble homes from the West Indies, Bahamas and Spain. The homes will be constructed of steel
reinforced concrete block and covered with stucco for long lasting
durability.
The Joint Venture is predicated on the Company selling
lots and Neandross building the homes. The Company will be selling
its lots at pre-set prices ranging from $40,000 per lot for interior lots to over
$85,000 for exterior, larger lots.
The Joint Venture also calls for a 50/50 split of the profits
between the Company and Neandross after construction
costs.
Bruce Neandross, the CEO of
Neandross, has been a builder and developer for over thirty-five
years. His career began after studying Business/Economics and
Architecture at the University of
Arizona. In Bruce's own words, "My true education took place
with hands on experience as a construction superintendent,
contractor and general partner in more than fifteen successful
residential and commercial developments. My love of architecture
and my passion for construction innovation drove me to build more
than 250 grand estate homes." The Company and Neandross
believe the 65 homes can be constructed and sold within the
three-year period set forth in the Joint Venture. Neandross has
purchased and closed on the first two lots from the Company and has
begun construction on two homes.
Forward-Looking Statements: The statements in this press
release constitute forward-looking statements within the meaning of
federal securities laws. Such statements are based on our current
beliefs and expectations and are inherently subject to significant
business, economic and competitive uncertainties and contingencies,
many of which are beyond our control. In addition, such
forward-looking statements are subject to assumptions with respect
to future business strategies and decisions that are subject to
change.
Visit the company at www.viavisconti.com
Joseph Visconti
561-714-7873
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visit:http://www.prnewswire.com/news-releases/valuerich-signs-joint-venture-with-neandross-development-to-build-65-homes-998045639.html
SOURCE ValueRich