CONGRATULATIONS MELCOR

Then, in 1973, tragedy struck. During the final moments of an Elks (then Eskimos) and Roughriders football game, Stan, who was in attendance, had a heart attack and passed away. Garry Holmes succeeded Stan as company president.

Stan’s son, Timothy, had joined Melton as a salesman in the brokerage division in 1969. When his father passed, Tim became corporate vice president. In 1975, he succeeded Garry as president.

Timothy had his father’s drive, vision and community focus. In 1976, along with the Melton board, the decision was made to sell the bought Melton for $4.25 million. The name was then changed to Melcor Developments.

The sale and name change did not affect the family values of the brand. Timothy remained in leadership positions and continues to helm the company to this day.

Now, as he looks back over 100 years at the company his grandfather started, Timothy can’t help but marvel at the journey that Melcor – and the real estate industry – have been on so far. It’s a winding path with many ups and downs and the journey is far from finished. With rising interest rates, a housing shortage and economic challenges, Timothy, and Melcor, are doing what the family and business have always done best; work hard and make a difference.

“Inflation,” says Timothy, “is what has changed the most over the last 50 years. When I started in 1969, prices ranged from $7,500 for a single family home to $38,000 for an estate home. As we know, just 54 years later, prices have multiplied many times over.” battery pack that was shared by two employees! Today, some people shop for and purchase homes online, sometimes without ever setting foot in the home until moving day.”

A Leader in Canadian Surveying, Geospatial & Engineering

Global Raymac Surveys is a Geomatics and Engineering firm that uses revolutionizing new technology to provide our clients with unparalleled data across all sectors of professional land surveying and engineering with offices in Calgary, Vancouver, Edmonton, Medicine Hat, Grande Prairie, Invermere, Fort St. John, Lloydminster, and Rocky Mountain House. globalraymac.ca and our management committee, which is our highest-level executive team, is over 50 per cent women.”

Thanks for giving us something big to look up to.

Congratulations on your 100th Anniversary!

Yet some things remain the same.

“We believe that consistency in ownership, with the long-term view of a controlling shareholder, has been a key to our success,” Timothy points out about what helps keep the company strong despite the many changes. “We are patient and disciplined and that has allowed the company to endure the severe ups and downs of the real estate industry. Our ability to stay the course and stick to our founding principles and values underscores our 100 years of success.”

He continues, “Another key aspect is how we’ve always been financially conservative, not being overburdened with debt. This is a vital key to long-term survival. Diversity is key too; our ability to be in multiple markets – across Alberta and in B.C., Saskatchewan and the U.S. – so that we are not totally dependent on one market, has proven successful.”

Some things, however, are out of Melcor’s control.

Timothy says, “Inflation and the increasing cost and complexities of doing business are our biggest challenges in this economic climate. As the input costs of construction, materials and regulatory compliance keep on rising, we have no choice but to pass some costs on to home buyers.”

Nobody at Melcor takes this lying down. All operations, procedures and community giving are designed to ease the burden on homebuyers and families in a multitude of ways – be it providing incredible value for Melcor homes, creating safe and welcoming communities for families or robustly supporting the support services that help disenfranchised citizens, Melcor is determined to make a difference.

“In the real estate business, like many businesses, we depend on a reasonable level of growth in the overall economy. It’s important that the regional and provincial policies stimulate growth for the benefit of all residents,” says Timothy.

It starts with the land itself.

“For every Melcor community or investment, key considerations are an ideal location, safety of the families or businesses that will reside there, eco-friendly/sustainable builds and investor value. All of these are important factors in everything we do. Location is generally about the land we have and when the City or Town is ready for us to build out the land. Sometimes this is driven by dedicated school sites or other infrastructure purposes. Job creation and market forces drive our business.

“Our primary objective is building communities where people want to live, work, shop and play. This means that community-centric design, walkability, safety and local services are key. You will notice that many of our neighbourhood shopping centres are adjacent to Melcordesigned communities. We’ve been building naturalized storm ponds (sustainable, natural habitat) and zero lot line product (affordable housing) for decades. In one community, the naturalized storm pond was so successful that a resident called up and asked us to turn off the frog soundtrack!

“For our investors, we operate in a fiscally conservative way. We take stewardship of company assets and resources seriously and we constantly look to reward shareholders with increasing dividends. The company paid dividends in all but three years, which is quite remarkable when you consider that we’ve been public for 55 years.”

How do the golf courses fit into this model?

Timothy laughs, “Many people wonder how golf courses fit in. They were developed as a community amenity, much like a playground or

“Investing back in the communities where we do business is an important part of who we are,” Timothy says firmly. “As we pursue excellence in our business, we also want the communities where we do business to be the best they can be.”

He continues, “We give where we live to build strong communities. Our giving and involvement focus is on key pillars of strong communities: education, health, youth, sports, public gathering places such as libraries and social programs that lend a helping hand to those in need. To that end, some of our key contributions and pledges include:

• YMCA (including Melcor YMCA Welcome Village, Melcor Crowfoot YMCA and Melcor gymnasium at the Don Wheaton YMCA)

• Edmonton Triathlon Academy

• Various junior sports teams

• iHuman

• University of Alberta (including Stan Melton chair, golf and football, School of Business)

• Valour Place

• Art Gallery of Alberta

• Children’s Autism Services

• United Way

• Sign of Hope

“We also support Junior Achievement, Rotary Clubs, Scouts,

Your partners for a brilliant future.

bdplaw.com Congratulations www.englobecorp.com

We are proud to be your partner and wish you many more years of success.

It’s rewarding to offer a service that is necessary and appreciated. It is also rewarding to see the fruits of our labour as real estate development and having a tangible impact on communities takes time. The development of some communities and commercial projects can span multiple decades. The home is the biggest investment most people make in their life, and being part of that, being chosen as the community where a family decides to build their life together is an honour,” says Timothy.

“I’m grateful to the Melton family for having the confidence in me and providing support and cooperation. The Meltons have had a huge impact on the longevity of the business. I also acknowledge the important contributions of Melcor employees and our Board of Directors throughout the years.

“While I appreciate all the recognition that I’ve received over the years both personally and on behalf of Melcor, I’m particularly proud of the YMCA Fellowship of Honour. This is the YMCA’s highest honour recognizing outstanding service, exemplary leadership and significant impact on the YMCA movement. I was inducted in Ottawa in January 2013 by the Governor General of Canada. The YMCA has been near and dear to me and my family for many years, and I’ve served as both member and volunteer.” abroad. What will Melcor do next?

Over the course of a century, Melcor has already changed the face of Edmonton, Calgary and communities locally and abroad. What will Melcor do next?

“That will be up to the next generation,” smiles Timothy. “They’ve got to continue to live by our values, maintain our good reputation, operate with integrity and continue to maintain the solid financial footing that has been so important in our first 100 years.”

Edmonton: 1.780.423.6931

900, 10310 Jasper Avenue NW, Edmonton

Calgary: 1.403.283.3556

210, 101-6 Street SW, Calgary www.melcor.ca

The Calgary Chamber exists to help businesses thrive. As the convenor and catalyst for a vibrant, inclusive and prosperous business community, the Chamber works to build strength and resilience among its members and position Calgary as a magnet for talent, diversification and opportunity. As an independent, non-profit, non-partisan organization, we build on our 132year history to serve and advocate for businesses of all sizes, in all sectors and across the city.