Classic Construction Ltd (Classic) was founded in 2002 by (Murray Prokosch, Gerald Pahl, along with wives Margaret Prokosch and Rose Pahl) with the vision of developing and building attractive, affordable homes for average Albertans. Initially, our approach centered on creating unique, efficient designs in order to reduce building costs and arrive at a lower priced product. However, we realized just how great the demand for entry-level homes was and set out to develop more innovative ways to make home ownership attainable.Our single greatest innovation has been our approach to the affordability problem. Rather than lowering quality standards, Classic proposed a revolutionary solution: simply help customers with the costs of home ownership.

Classic will help families purchase their homes by:

• Selling the home for less than the appraised market value
• Contributing significant money toward the down payment
• Contribute an even more significant amount of money toward the home buyers’ monthly expenses by providing a monthly subsidy that is not repaid. “In 2003, CMHC introduced enhancements to its mortgage loan insurance products designed to encourage the creation of affordable housing. In 2005 CMHC offered additional enhancements to facilitate more housing options. CMHC recognizes that it is the intent of Classic Construction Ltd to: • provide affordable and modest housing below market value of similar and comparable housing form • to assist homeowners with down payment assistance • provide funding for ongoing mortgage payment assistance.”* *CMHC quote taken from letter received dated Nov 21, 2006 from John McWilliam, Manager Special Projects. Prairie, Nunavut & NWT Region. Previous “affordable housing” proposals were based on the contractor maintaining their profit margins by providing smaller and lower quality housing. Murray Prokosch 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.” In a past issue of the Calgary Sun, City of Calgary Alderman Joe Ceci (ward 9) is quoted as stating “The private sector must step up and find a way to make a profit in building low-income housing”. With CMHC’s recognized mortgage qualifications lowering the household income for qualification by as much as $20,000 home ownership is attainable now, for people who otherwise might never find the chance to own their own home. Classic has done this for the people of Medicine Hat & High River. Classic has acquired land and will be doing this for the people of Brooks & Canmore. Classic wants to do this for people throughout Western Canada. 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. Murray is also an active member of the Alberta Secretariat for Action on Homelessness.

The Canadian Housing & Renewal Association celebrated their 39th Annual Congress with a National Convention held in Calgary, Alberta in May of 2007. During which, the Honourable Monte Solberg, Minister, Human Resources & Social Development made a keynote address. During that same address, Minister Solberg specifically used Classic Communities as an example of what a successful private sector company is capable of accomplishing for attainable ownership in Canada. 2007 saw Classic recognized for their contributions and presented with a plaque jointly from the Federal & Provincial Government “for creating sustainable housing solutions that help meet community needs in Medicine Hat”. The plaque was presented on behalf of the Honorable Monte Solberg, Minister, Human Resources & Social Development, Nicole Shupe from the Ministers staff, and the Hon. Len Mitzel, local MLA on May 18th, 2007 at our Northlands Pointe Ribbon Cutting. CMHC recently selected 6 partnerships in Canada to highlight as Success Stories in Affordable Housing. Classic Communities is honoured to be one of those six success stories.