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Schuler Homes,
Parker Ranch to
develop site on
Big Island

The builders will construct
houses in the price range
of $200,000 to $300,000

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By Russ Lynch
Star-Bulletin

Schuler Homes Inc. and Parker Ranch have formed a joint venture to develop homes on a 60-acre piece of the Ranch's land at Waimea on the Big Island.

Mike Jones, president of Schuler's Hawaii division, said prices will range from close to $200,000 to nearly $300,000 on sites ranging from 5,000 square feet to 10,000 square feet. The number of homes to be built was not disclosed. The company said there will be a number of different styles to choose from and a range of design options will be available to suit the desires of individual customers.

Carl Carlson, president of Parker Ranch, said that while cattle ranching is Parker's most visible occupation, real estate development is an important part of its portfolio. "Successful businesses today rely on diversification," Carlson said.

The ranch has talked for years about developing some of its land and improving the Waimea community. Richard Smart, the ranch owner who died in late 1992, came up with an overall plan in 1986, designed to provide enough land for the town to grow through 2020.

Land to develop as many as 730 homes has been held by the Parker Ranch Foundation Trust to be released for small developments, some for housing and some for local businesses and community facilities. In February, a 44-home project there, Holoholo Ku, was announced by Honolulu developers U.J. "Rick" Rainalter and John P. Spierling.

Schuler said the primary market for its yet-unnamed project will be local residents. Site work is expected to start within a year and the first homes should be completed in mid-2002, he said. Schuler Homes, which built its first residence in 1973, has branched out to the mainland and has land-development and homebuilding operations in Arizona, California, Colorado and Washington, as well as Hawaii.