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Port Allen to get retail complex

A&B Properties will develop a 32,000-square-foot retail complex in the Port Allen area to serve the harbor region. The Port Allen Marine Center will be a two-story complex on 1.7 acres at Waialo Road and Small Boat Harbor Road. The firm expects to rent space to tour-boat companies, food stores, boating suppliers and others.

Work on the $4.5 million project is to start this summer and be completed by summer of 2002. "Increased commercial activity at Port Allen has created the need for additional retail space," said A&B Properties president Robert Sasaki.

The company's master plan for the region includes a new warehouse and restaurant overlooking the harbor.

Schuler Homes to make offer

Honolulu-based Schuler Homes Inc. yesterday said it intends to offer up to $200 million in principal amount of its senior notes due 2009, and $200 million in principal amount of senior subordinated notes due 2011, in a private placement.

The company said it expects to use the proceeds to repay subordinated debt, including its existing 6 1/2 percent convertible debentures due January 2003, project specific debt, and substantially pay down its revolving credit facility.