Atlanta continued to spring triumphantly from the recession in 2015, and opportunities abounded for homeowners, investors and developers to scoop up properties across the city at bargain prices, and then transform them to capitalize on the market's upswing. From offices to car dealerships to former storehouses, these flips weren't limited to homes. As the year draws to a close, we compiled a list of some of the biggest flips of the year, which were either completed or announced in 2015. Ranging from pretty flippin' awesome to downright perplexing, these flips represent the range of Atlanta's development.
The Glammest Flip of the Year
The residences above the Loews Atlanta in Midtown came into existence just as the market spiraled out of control. The economic free-fall left these high-end condos less than marketable, as buyers were few and far between. Rented as luxury apartments for the last few years, the units were flipped to become condos — starting around $1 million — as the real estate market quickly heated up this year. With marble everything, views for days and a primo Peachtree address, these puppies aren't coming cheap.
The Most Ambitious Flip of the Year
More than a year ago, a rundown elderly care home in Kirkwood hit the market a couple of doors down from Sun In My Belly restaurant. The 1915 Victorian had seen a lot of abuse over the years, but had sturdy bones calling for a skilled flipper to resurrect it to former glory. Apparently, someone who knew what they were doing scooped up the home for $285,000 and devoted 2015 to restoring the now century-old mansion. The restored home came back on the market last week for $750,000, and while it's not 100 percent finished, the lovely transformation is clearly drastic.
The Worst Flip of the Year
Glenridge Hall, a stately mansion from a bygone era, was a treasure listed on the National Register of Historic Places. However, that listing didn't save the home from the "flip" which led to the incredible historic mansion being reduced to a pile of dust to make way for a new housing development. No doubt, in the future, Sandy Springs will look back on this lost, rich history with a lot of regret.
The Sleekest Flip of the Year
Day-um. This flip took a humdrum Ormewood Park home from a typical Craftsman to sleek-ass contemporary stunner. While the curb appeal is debatable, the interiors are pretty spectacular, with tons of windows, hardwoods throughout and Carrara marble in the kitchen and bathrooms. Listed for $490,000 back in July, the home reportedly sold before it even officially made it to market. Too bad Ormewood Park didn't make it in the running for Curbed Cup 2015.
The Most Confusing Flip of the Year
When is an office not an office? When it's an apartment building... This flip took a former office building dating back to 1975 and transformed it into an upscale new rental high-rise known as, what else, The Office. Confusing as it may be, the building has been a success, bringing a needed high-end residential option to downtown.
The Least Atlanta Flip of the Year
Atlantans love cars. So when it was announced that a former Buckhead car dealership was destined to become not a car dealership, it marked a shift in priorities for the auto-centric city. The old Buckhead Chrysler Plymouth dealership on Piedmont Road was re-envisioned as a swanky events facility, and it threw open its fancy doors this fall.
The Most Anticipated Flip of the Year
A project years in the making, Ponce City Market debuted for the public this year as the mega-flip of the historic Sears & Roebuck distribution warehouse. Adjacent to the Beltline, PCM stands out as an adaptive-reuse statement. While there's still a lot of work to be done on the building — and the parking debacle pissed a few people off — all indications are that this flip is a resounding success.