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86
THE KEITH
BEEDIE STORY
PART 1: LAYING THE FOUNDATION
CHAPTER 7: LETTING IN THE ENTREPRENEUR
INCORPORATION
By 1956 the work at Central Park Garden Village was continuing at a brisk
pace. The split-level houses were selling just as Keith had expected. The
designs proved to be so popular that he was selling each home before it was
completed. Profi ts from one sale were funnelled into the construction of the
next house. Keith was selling each house for $13,500, but in those days, if they
were building CMHC (Canada Mortgage and Housing Corporation) mortgaged
homes, they needed to hold them to a price set by CMHC. “They put a ceiling on
the maximum of the house,” says Keith. “They decided on a price of $12,500
for my places, but I couldn’t do it the way I wanted for that little. So I would put
another thousand into them to fi nish them the way I liked. The purchaser paid
that extra. Then CMHC would pay us a certain percentage of the mortgage,
contingent upon a fi nal inspection when the house was done.”
To Keith’s frustration, some of the inspectors were incredibly fussy.
“Th ose goddamn guys could drive you nuts,” says Keith. “Th ey could
fi nd some tiny thing and make a world of trouble for me.” Fortunately,
it was a mixed bag with the inspectors and sometimes Keith got lucky.
“I remember an inspector stopping by once,” says Keith. “He went
through the whole house and commented that there wasn’t much he
could fi nd wrong. Right at the end of the inspection, he headed out
the rear sliding glass door. Th ere should have been some stairs to a
patio two feet below the fl oor. We hadn’t built that yet.” Th e inspector
jumped down from the door. Keith held his breath, waiting for the
barrage of complaints sure to come. Instead, he was shocked when the
inspector scribbled on a piece of paper that everything was fi ne. “He
passed the house and I got my money,” says Keith. “I couldn’t believe
it since I think he’d even split his pants on the way down.” Keith only
wished it were always so easy.
Now Keith had three kids to support. He was grateful that the houses
he was building were selling and generating a steady income. As he
took on more jobs, he realized that the scope of his business had grown
beyond a simple one-man operation. He was paying multiple wages,
putting out considerable sums of money on materials and juggling
diff erent projects. Th e time had come to make it offi cial. In 1954, Keith
incorporated Beedie Construction.
“My dad has always been a great father. He has always made
me feel safe, because I have always known he’d be there for me
whenever I’ve needed him.”
—COLIN BEEDIE, KEITH’S SON
PART
TWO
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