ATLANTA — A new report is recommending that the government get rid of a federal building in downtown Atlanta.
The Public Building Reform Board released a new report on Thursday that recommends closing the Peachtree Summit Federal Building because it’s being underutilized and would cost hundreds of millions of dollars to fully modernize it.
The report targets 11 properties across the country, including Peachtree Summit, and the board estimates that either selling or consolidating the properties could “save taxpayers $5.4 billion and generate an estimated $346 million in sales proceeds.”
“Billions of dollars are being spent annually by the federal government to operate, lease, and maintain office space that is underused, in disrepair, or vacant,” PBRB Acting Chairman Talmage Hocker said. “Due to current market conditions, however, we have a rare opportunity to realize triple bottom line benefits. By reducing the federal footprint, we can save U.S. taxpayers billions of dollars in day-to-day operations and maintenance costs, enable federal employees to work in safer, modernized workspaces, and return underused properties to the local tax base to be repurposed to meet each community’s most pressing needs.”
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It is important to note that the PBRB is a separate entity from the newly created Department of Government Efficiency, which says it’s working to clean up government waste.
The Peachtree Summit Federal Building, built in 1976, sits at the corner of West Peachtree Street and Ivan Allen Boulevard.
Among the 29 stories, the building is home to several federal agencies as well as a daycare center, a fitness center, and a cafeteria.
According to the new report, the building “requires over $255 million in repairs and upgrades, including HVAC system upgrades, window replacement, electrical wiring upgrades, and renovations to the public areas throughout the building.”
In 2024, the board was told that the building is an “underutilized asset that is suitable for disposal in the next five to 10 years,” and the tenants of the building could be moved over to the Sam Nunn Building.
In total, the report says it would cost $536 million to fully modernize the building and would cost taxpayers another $255 million in maintenances.
The savings to taxpayers if the building is sold are estimated to be $707 million.
The PBRB can only make recommendations about building closures. Ultimately, that decision will lie with the General Services Administration.
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