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Patrick Reilly

A Real Estate investor since 2003, Patrick joined Rehab Builders Inc. in early 2007 eager to learn the construction business from the ground up. Bringing nine years of corporate finance, sales & marketing experience, Patrick recognized Rehab Builders as an excellent opportunity to learn the business from a group that held strong core values similar to his own.

Since the formation of Rehab Development in 2008, Patrick has helped lead multiple Historic Main Street revitalization efforts in NC, SC, VA, and GA, helping the City of Henderson, NC become the first City in the country to successfully execute a Hope VI Main Street revitalization grant project since the program’s inception in 2004. Patrick works hard to build and maintain relationships within communities with public officials, property owners, & lending agencies, as well as multiple state and federal agencies.

He is constantly on the lookout for potential new projects and communities to partner with in the southeast USA. His passion is rehabbing historic buildings that would often otherwise be demolished, creating jobs that help people to continue to grow their skills sets, revitalizing downtown “Main Street” USA, and giving people a classic/unique product to live/work in upon completion of a project.

Patrick holds an M.B.A. from East Carolina University, a B.S from Michigan State University’s College of Agriculture, a Dale Carnegie Graduate and is a licensed North Carolina Real Estate Broker. Patrick is also the managing partner of Ferrell Historic Lofts (Danville, VA), River Market Lofts (Hawkinsville, GA), Nash Street Lofts (Wilson, NC), New Brick Historic Lofts (South Boston, VA), Wilson Furniture Company Lofts (Wilson, NC), and Lofts 29 (Concord, NC).

Patrick and his family live in Raleigh, NC and are members of Asbury Church. He is also a member of the downtown Raleigh Rotary Club, the oldest Civic Club in North Carolina.


Ed Lipsky

A Real Estate builder, designer, engineer, manager, and investor since 1971, Ed founded Rehab Builders Inc. in 1997 to specialize in adaptive reuse of historic buildings. Having difficulty finding engineering firms with specialized experience on historic buildings, Ed and Flay Blalock co-founded Rehab Engineering in 2005 to provide plumbing, mechanical, electrical, and structural design services. These services compliment and expedite Rehab Builders’ work on historic structures.Ed along with Flay Blalock, Patrick Reilly, and Josh Lipsky founded Rehab Development in 2008, to fill a need Ed had observed over the years in many of the towns he had worked in. Ed would regularly receive requests to aid in the development of projects that were too small for larger firms to be interested in, yet smaller firms lacked the expertise necessary to successfully execute.

In addition to implementation of design/build adaptive reuse of buildings for developers, Ed has purchased, designed, built, and managed 2 buildings in downtown Greensboro, NC. Additionally, he has developed a 30000 SF building in Winston-Salem, NC which now houses 28 upscale apartments and 6 commercial spaces combined.

Ed brings over 40 years of experience in all aspects of development, starting with tool in hand construction, through financing, design/build, and management.

Ed holds a degree in electrical engineering from N C State, is a licensed civil engineer, and an elder in the Presbyterian church.



Flay Blalock

Flay Blalock is a founding partner of Rehab Development and RehabENGINEERING, P.C.. Flay has over 20 years of experience in product design and development, and holds nine U.S. patents. As the Engineer of Record for RehabENGINEERING, Flay is responsible (through execution or oversight) for all mechanical, electrical, plumbing and structural design work performed by the firm. Flay is also responsible for new client development, planning and construction administration. Flay’s engineering capabilities make him vital to the design and construction phases of new and adaptive reuse projects. His involvement allows RehabDEVELOPMENT to make cost saving/value adding decisions, in real time. Both a LEED Accredited Professional and a certified HERS Rater, Flay brings a valuable awareness of energy and water efficient design strategies, as well as the capability to combine green building techniques with progressive building science to produce new and renovated buildings that are safe, healthy places to live and work. Flay and RehabENGINEERING specialize in the adaptive reuse of historic buildings, with a special concentration on multi-family housing and mixed-use projects



Josh Lipsky

Before starting with Rehab Builders, 2008 Josh worked for Performance Contracting Group out of Lenexa, KS and Turner Construction Co. from New York, NY. With these two companies Josh traveled the US and worked on high profile projects with very special challenges. His construction experience includes a hotel, a pharmaceutical plant, power plants, high rise condos, television studios, office buildings, apartment complexes, and an airport terminal. Josh holds a BS degree in Civil Engineering with a Construction Concentration from North Carolina State University.