Michael Collins is the founder and CEO of Grayson Capital. Grayson Capital is a full-service real estate development firm with a focus on multifamily, healthcare, and public/private partnerships. Previously, Michael served as the managing director for JE Dunn Partners LLC, the private equity commercial real estate investment subsidiary of JE Dunn Construction Company.
Q: How did you become involved in the construction and design industry?
A: My first job after graduating from college was with a United States Senator from Missouri. I was tasked with working on federal construction projects associated with the IRS Service Center in Kansas City, Missouri. At the age of 22, I was deeply involved in a $300,000,000 project. While that first exposure to construction was well beyond my political science background, I found the work to be fascinating.
My government career continued as I contributed to courthouse projects through the Administration Office of Courts (AOC), a department overseen by judges, including those from the United States Supreme Court. I was given the job of overseeing the Rush Limbaugh Courthouse project in Jefferson City, Missouri. All these experiences ignited my passion for furthering my knowledge and pursuing a career in the construction industry.
Q: What is something that your company is doing that you consider innovative?
A: At Grayson, we are integrating healthcare and housing by incorporating medical offices offering primary care, orthopedic, and ambulatory healthcare services into our multifamily developments. We have recognized the growing demand for convenient healthcare access within communities where people reside, work, and shop. Our approach aligns with the emerging housing trends that prioritize bringing healthcare closer to individuals, and we are proud to be at the forefront of this type of development.
Q: What poses a challenge, risk, or opportunity for your clients, and what is your company doing to address it?
A: There are significant challenges that have emerged that directly affect our business. The increase in interest rates has substantially impacted the timing of putting the “first shovel” to the project. We find ourselves exploring alternative financing. The rising costs of insurance premiums have become a significant financial burden for construction businesses. The demand for experienced workers and the lack of skilled laborers is also a major challenge in our business. These challenges, collectively, create a complex environment for construction businesses.
Q: What is something you view as an emerging trend in the industry, and what are your perspectives on it?
A: When we founded Grayson in 2021, we recognized that our business model was part of a growing trend. The healthcare sector is known for its stability and offers significant opportunities. Our focus includes serving hospitals, health systems, physicians, and government entities. We are committed to staying adaptable to our clients' needs, and we anticipate that the ongoing trend of providing healthcare services closer to communities will continue to thrive.
Q: What are some of the biggest surprises as you started your business, and how do you get away from those surprises and relax?
A: In my first year, I was taken by surprise by the fluctuation in interest rates. While we expected some volatility, the rate changes over the past year and a half have been quite significant. Additionally, as a first-time business owner, I've come to realize that I have less control over my daily schedule than I initially thought.
During my downtime, I find relaxation in activities like golfing, boating, and smoking meat. I also stay busy attending my four kids' various dance and sports activities. I'm a passionate fan of both baseball and music, and I enjoy listening to a wide range of genres, from old school hip-hop to rock, blues, and one of my favorites, the Dave Matthews Band.
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