One of Chattanooga’s oldest downtown office buildings, originally built in 1911 as an apartment complex, is returning to its residential roots under a new owner.
The Flatiron Building at 707 Georgia Ave. was sold last week to a group of Chattanooga investors that is planning to spend $6 million to buy and convert the historic, four-story building into residential condominiums built atop upgraded first-floor offices. Known as Flatiron Heights, the 27,884-foot structure will feature three stories of luxury condos renovated to add new balconies that will capture the downtown views offered from the top floors of the triangular building.
“We were attracted to the Flatiron Building by its great history and location, and with these upgrades, we think these condos will truly be unique in Chattanooga,” Robert Fisher, a commercial real estate agent with Keller Williams and a partner in the investment group that bought the Flatiron building.
The developers envision about 15 or so of the condos being built, although they are being flexible based on the size and type of units future residents may choose.
“When the Flatiron Building was originally built in 1911, it was an apartment building with about 30 units, and while we are changing the size of these units and making some improvements, we are keeping the historic look and brick exterior,” said Bo Ferger, another partner in the project. “Downtown Chattanooga is really attracting people wanting to live in the central city and the Flatiron certainly has a great location and historic look. It also offers tremendous views from the upper floors looking all the way to the Cameron Hill area.”