While the Briarcliff Mansion won't house senior citizens, Galerie Living will restore the remarkable building as part of its agreement with Emory.

The restoration is set to be "extensive", according to one Emory official. “Once it is restored, we are hopeful that there will be opportunity for campus and community use.”

"At least part of the mystique and appeal [of the mansion] is that some of it is still very grand and exquisite, but lots of it is in disrepair,” Stephen Corder, Galerie Living's Director of Marketing, told The Emory Wheel.

"Once we renovate and refurbish it, it’ll become a destination location where we envision weddings, receptions, community events and corporate events.”

So despite its many ups and downs, it looks as if the grand old home will have a happy ending after all.

Liked this? Click the Like button above. And click the Follow button above for more great stories from loveMONEY

Inside the abandoned mansion built for the 'Coca-Cola kid'