Classic Homes
Classic Homes is a Virginia based home building and real estate company. The company focuses primarily on building single family homes in Northern Virginia. The company builds both on customer owned land (On Your Lot) and in its communities on land the company acquires and develops.
Company History
Brothers Chaman Puri and Prem Puri formed the precursor to Classic Homes, PC Homes, in 1983. During 16 years they built approximately 900 homes and townhomes in communities throughout Virginia, including Cascades and were included on national builders lists. In 1998, due to the troubled health of Prem Puri, they sold PC Homes to K Hovnanian Homes.
After merging operations with K Hovnanian, the founders left the company in 2000 and formed Classic Homes, bringing with them most of the staff of PC Homes. Responding to vulnerability to the previous health issue, the management structure was altered. The company at this point added the Build On Your Lot product to its portfolio, in part due to its inability to acquire land on which to build homes. This part of the business has come to be the majority of its construction volume today.
Company operations
Classic Homes builds AbOUT 50 homes per year, with volumes in 2006 (during the real estate boom) of 80 homes and volumes in 2008 (during the ensuing slump) of 20 homes. Base prices for homes vary from $249,900 to $1,500,000.
Its communities are located in McLean, Nokesville, Woodbridge, Stafford, and Spotsylvania. It also co-markets land owned by other investors in a variety of areas in a "build to suit" arrangement with the lot and home priced as one lump sum although the seller of land and builder of home are not the same entity.
Due to the nature of the offering, its Build On Your Lot program has a larger footprint, including the counties of Arlington, Fairfax, Prince William, Loudoun, King George, Spotsylvania, Fauquier, Caroline, and Orange as well as the cities of Falls Church, Fairfax, and Manassas
Extreme Makeover
In June of 2008, Classic Homes worked with ABC's Extreme Makeover: Home EDition to build a new home for a family consisting of a single woman with 14 kids. The home built was an adapted version of their Monticello model. The program aired as the two-hour season premiere of the 2008 season. The personal and financial condition of the Recipient resulted both in praise for helping someone in need as well as scorn for encouraging what some believe to be an unsustainable situation as well as continued criticism of ABC for exploiting tragic situations.