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Schuler to
build 35 homes
in Hawaii Kai

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Star-Bulletin staff

Schuler Homes Inc. has purchased a 4.7-acre parcel in Hawaii Kai across from Safeway on Keahole Street, where it plans to build 35 single-family homes.

Construction is expected to begin in 90 days with the first homes finished by March 2001. Pre-sales start in early October, and prices should average $450,000 with sizes ranging 1,500 to 2,200 square feet, the company said. Some homes will be waterfront. Schuler will build the homes with a hybrid of metal framing and wood. The company also recently purchased land in Makakilo to build 128 homes, and a Wailuku parcel for 56 homes.

Honolulu-based Schuler also develops homes in Arizona, California, Colorado, Oregon and Washington.

The company reported a 63 percent increase in second-quarter profit to $10.9 million from $6.7 million last year.

Schuler's Nasdaq-traded shares were unchanged today at $6.88. The stock is up about 6 percent since the start of 2000.