Property and development manager Ben O'Malley said diggers and a construction team last week moved on to the Coronet Square site, which will comprise 13 three- and four-bedroom apartments in the heart of the development.
A construction team, led by Arrowtown company AJ Saville Builder Ltd, has started work on the foundations of the first of four homes to be built over the next 12 months.
The first house is expected to be complete by next winter.
Company owner Allister Saville had built 13 homes at the resort in the past eight years, Mr O'Malley said.
In 2006, his company won the overall award in the National Registered Master Builders House of the Year for a new home over $1 million.
The company made the finals again in 2007 for a character-filled home at Millbrook and was a Gold finalist nationally again this year.
Mr O'Malley said up to 35 builders and subcontractors would be employed on site over the next year, spending about eight months on each home in a "rolling programme".
Coronet Square project manager Rowan Small said it was fantastic to get under way after months of preparation from Haden Emslie in designing the houses and work by landscape architect Paddy Baxter, of Baxter Design Group.
"It's going to be a great office for the next few months because it's such a stunning site with plenty of sunshine," he said.
"The homes are being built to a level that's well over and above the required building code for insulation levels, future-proofing them and keeping them as energy efficient as possible," Mr Small said.
The energy efficient houses included features such as double garaging, ski-drying cupboards and fitted joinery.
Each apartment would be fitted out with the latest appliances and high quality fittings, including a full home entertainment system.
The landscape design included dry stacked stone walls, paving, block planting and an expansive infinity lawn running to the edges of the golf course, Mr Small said.
