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GLENCAIRN CORPORATION UNVEILS $100 MILLION PLAN FOR EXCLUSIVE RESIDENTIAL, CORPORATE COMMUNITY IN RICHFIELD

 GLENCAIRN CORPORATION UNVEILS $100 MILLION PLAN
 FOR EXCLUSIVE RESIDENTIAL, CORPORATE COMMUNITY IN RICHFIELD
 CLEVELAND, Jan. 7 /PRNewswire/ -- Glencairn Corporation today unveiled plans to turn an undeveloped area of Richfield Township and Richfield Village -- "the missing link between Cleveland and Akron" -- into a community of as many as 350 exclusive, luxury residences and an adjoining area for a major corporate headquarters or research facility. The project is valued in excess of $100 million.
 James Biggar, chairman and chief executive officer of Glencairn, said the strategic location of the site -- at the junction of Interstates 77 and 271 -- is inviting for both families and businesses.
 "This will be a very pleasing location for a two-career family," Biggar said. "One spouse could be working in Cleveland, the other in Akron -- or Medina, Elyria, Canton, Wooster, or Solon -- and it would serve them both very well.
 "And," Biggar added, "a business located here could draw upon more trained people within a 45-minute drive of that office than anywhere from the East Coast to Chicago."
 The 490-acre property, which on a map looks like two trapezoids split by I-77, borders the Cuyahoga Valley National Recreation Area. It offers the natural beauty of densely populated oak, maple, walnut, hickory, and beech trees, interspersed with streams, rolling hills, and deep ravines. "The atmosphere here is just spectacular. You have to see it and walk through it -- you look around and it makes you think, 'I want to live here,'" Biggar said. "What is exciting is that we will preserve this natural environment and add architectural beauty on both sides of the freeway."
 Glencairn, one of the area's largest land owners, believes the development will be a plus for Summit County and provide a direct conduit for the Akron and Cleveland areas to benefit from each other's economic resurgence. As chairman of the Gateway Economic Development Corporation and the New Cleveland Campaign, Biggar is a strong supporter of projects -- including Gateway, the future Rock and Roll Hall of Fame and Museum, and the National Inventors Hall of Fame -- that will bring the entire region new business, tourism, and increased hotel occupancy. "These developments are good for all of northern Ohio," he said.
 Although the area has not yet been developed because of the lack of city water, Biggar said a sewer line has recently been extended along Brecksville Road into the area. Biggar believes Glencairn can break ground as soon as water lines are extended sometime this year. He estimates that home building will begin in 1993 and the corporate/research phase could get under way as soon as water becomes available, with completion in two years.
 Community Support
 Richfield Mayor Ralph Waszak is enthusiastic about Biggar's plan. "I am very pleased with our preliminary discussions," Waszak said. "For us it means that the property will be utilized to its maximum in terms of bringing tax dollars into Richfield and Summit County, and that the land will be developed in an aesthetically pleasing manner.
 "Mr. Biggar is going to be very important to this community," he added, "because of his capability to bring together the public and private sectors and bring high quality business to Richfield." Waszak said the development would help ease the loss of the Coliseum and create a mechanism for Cleveland and Akron to grow together.
 Residences That Offer Natural Luxury and Privacy
 Biggar said Glencairn intends to develop a 380-acre portion of the property into a community called Glencairn Forest. It will be the setting for about 350 high-quality, single-family residences, sized between 2,800 and 7,000 square feet. Typically, the lots will vary from three-quarters of an acre to one-and-one-half acres, and many will either back up to deep ravines or border lakes.
 The residential site is bounded by I-77 on the west, I-271 on the north, the Cuyahoga Valley National Recreation Area on the east, and Wheatley Road on the south. The community, which will include a recreation center, swimming pool, and tennis courts, will have only one point of entry, affording privacy, controlled access, and safety.
 "This site has tremendous appeal to people who are primarily interested either in Akron or in Cleveland -- or especially those who are interested in both," Biggar said. "You can go anywhere in the state very quickly from this spot. It appeals to the trends of the future. This is a very ideal place to live and feel flexible."
 Future Site of a Fortune 500
 Just to the west, a 110-acre site will be known as Kinross Lakes, which Glencairn plans to develop into an inviting area for business, complete with woods, streams and lakes. Biggar envisions Kinross Lakes as the home of a Fortune 500 company or research facility, or the home of several smaller companies.
 "The view of the Cuyahoga Valley to the east would be breathtaking and uninhibited from, say, the fourth floor of an office building here," be said.
 The 110-acre site is bordered by I-77 on the east, Wheatley Road on the south, Brecksville Road to the west, and I-271 on the north.
 A New Beginning for Biggar
 This is the first venture for Glencairn Corporation, an investment company founded by Biggar and his wife in June 1991.
 Biggar, 63, retired as chairman of Nestle USA Inc. in July and continues to serve on the Nestle Advisory Committee. With degrees in engineering administration and mechanical engineering from Case Institute of Technology, Biggar spent the first 10 years of his career with Reliance Electric. He then became director of marketing for Stouffer Foods and stayed with the Stouffer Corporation, which was acquired by Nestle S.A. in 1973. During his seven-year period as president of the combined Nestle Enterprises, Inc., sales volume nearly doubled and profits tripled. Biggar is also a former chairman of Cleveland Tomorrow.
 -0- 1/7/92
 /CONTACT: James Biggar of Glencairn Corporation, 216-831-8860, or Kevin Donahue, Cindy Schulz or Cheryl Brady of Dix & Eaton, 216-241-0405, for Glencairn Corporation/ CO: Glencairn Corporation ST: Ohio IN: SU:


PS -- NY007 -- 7124 01/07/92 05:01 EST
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