In 2002, Murray Prokosch and Gerald Pahl, along with wives Margaret Prokosch and Rose Pahl, combined a successful business career and more than twenty years experience in the construction and development industry to create Classic Construction Ltd. (CCL). Their first-hand experience convinced them of the need for creative solutions to increase home ownership opportunities for low income Albertans. Murray and his partners set out to demonstrate that the private sector construction industry could provide these solutions.

After three successful years providing high end housing in Medicine Hat, Murray and his partners approached Canada Mortgage and Housing Corporation (CMHC) with a proposal for home ownership geared to lower income households. This plan recognized that home ownership is affected by a household’s ability to contribute a down payment and/or have a sufficient income to meeting monthly payment obligations.

Murray and his partners proposed that CCL would forgo a portion of its profits, choosing instead to assist purchasers with down payment funds and funds contributed on a monthly basis over a number of years. As a result many households, previously “stalled” in their quest to home ownership, were now able to afford their own home. Most were able to do so for a lower monthly cost than when renting.

Previous “affordable housing” proposals were based on the contractor maintaining their profit margins by providing smaller and lower quality housing. Murray and his partners committed to CCL providing this support without penalizing the home owner. This commitment has not gone unnoticed.

CMHC has used the Classic Attainable Ownership Initiative model as a “best practice”, one to be replicated elsewhere. In 2005, CCL was recognized by the Alberta Government “…for creating sustainable housing solutions that help meet community needs in Medicine Hat.” This recognition, in the form of a chrome shovel, was presented by the then Minister of Alberta Seniors and Community Supports, Yvonne Fritz and The Hon. Rob Renner who was the Municipal Affairs Minister at the time.

Two years later a representative for the Honourable Monte Solberg, Federal Minister for Human Resources and Social Development and Cypress-Medicine Hat MLA Len Mitzel presented a plaque to Murray and CCL “…for creating sustainable housing solutions that meet community needs in Medicine Hat.”

CCL has accepted repeat acknowledgements on Alberta Venture Magazine’s Fast 50 List. In 2007 CCL was ranked 8th overall among companies with gross revenues below $20 million. CCL was the only construction company on this list. In 2008 CCL eclipsed this feat by ranking 10th overall among companies with gross revenues above $20 million. In this category there were numerous construction companies, but none ranked higher than Classic Construction Ltd. Keep in mind that this success came predominantly by providing affordable housing to lower income Albertans.

Recognized as a leader in affordable housing discussions, Murray Prokosch has become a highly sought speaker addressing representatives of the Cities of Lethbridge, St. Albert and Edmonton. The Alberta Housing Coalition; Canada Mortgage & Housing Corporation; the Alberta Urban Municipalities Association and the CMHC National Conference on Affordable Home Ownership are also among those who have invited and/or received Murray. He was also invited to speak directly and publicly to the Municipal Affairs and Housing’s Affordable Housing Task Force.

Today CCL provides the Classic Attainable Ownership Initiative in Medicine Hat and High River. Soon projects will commence in Brooks and Canmore. Not only will individual households benefit from this initiative but each community will benefit from the provision of funds garnered from the interest earned on the monthly assistance monies. It is Murray and his partners vision to see these funds contribute to the strengthening of families and communities where CCL builds.

Murray Prokosch, President & CEO of Classic has been appointed by the Alberta Government to sit on the Alberta Secretariat for Action on Homelessness. The secretariat has been given a specific mandate and terms of reference to address homelessness in our province.

Murray Prokosch and his partners are guided by the belief that everyone should have a chance to own their own home. They have committed the resources of CCL to this endeavour, all the while earning a reputation of honesty, integrity and an unwavering dedication.