U.S. General Services Administration
GSA announces plans to dispose of the Liberty Loan Building in Washington, D.C.
Effort reflects combined work to better serve federal employees, optimize the federal footprint, save taxpayer dollars, and support community reuse
WASHINGTON – Today, the U.S. General Services Administration announced that the U.S. Department of the Treasury’s Bureau of the Fiscal Service will be vacating the Liberty Loan Building (401 14th St. SW, Washington, D.C.) and will relocate to the U.S. Mint Headquarters. This could lead to a potential reduction of 141,000 square feet for the federal government, saving about $15 million in reinvestment costs and providing through the GSA disposition process an opportunity for the community and local officials to pursue meaningful, continued use of this high-profile real estate.
The Liberty Loan Building was built as a temporary structure in 1919 to house the growing Liberty Loans bond program during World War I and has outlived its useful life. The move advances GSA’s efforts to right-size and modernize the federal buildings portfolio in order to better support agency missions and reduce costs for taxpayers.
“As the nation’s federal landlord we have partnered closely with other federal agencies for decades to assess their space requirements in an effort to optimize the federal footprint and provide significant taxpayer savings,” said Melanie Gilbert, the Acting Administrator and Regional Commissioner for the National Capital Region. “Moving underutilized and underperforming assets out of the building portfolio allows us to tailor a smaller federal footprint with better buildings – modernized and optimized for federal agency missions.”
The Real Property Disposition program gives GSA and local communities the opportunity to make valuable government real estate available for numerous local government and private sector uses.
“GSA will continue to coordinate with local officials and stakeholders to keep them informed of the disposition process—including opportunities for engagement—with the goal of meaningful reuse, such as advancing local economic development and employment,” Gilbert said.
The Bureau of the Fiscal Service is slated to complete the move by the spring of 2025, and GSA is partnering with them to streamline the decommissioning process and provide mission critical support through the end of their tenancy at the Liberty Loan Building.
“The United States Mint is proud to have our colleagues from the Bureau of the Fiscal Service join us at our Headquarters building, and we look forward to sharing the space with them, said Ventris C. Gibson, the U.S. Mint Director.”
“Fiscal Service and its predecessors have a long, storied history at the Liberty Loan Building. We have occupied the space, which serves as a landmark on the Tidal Basin, since 1919,” Tim Gribben, Commissioner of the Bureau of the Fiscal Service. “Unfortunately, we are unable to continue our tenancy there due to a number of challenges. However, we are excited that this move allows us to stay within the Treasury family and we look forward to working alongside our Mint colleagues.”
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About GSA: GSA provides centralized procurement and shared services for the federal government, managing a nationwide real estate portfolio of nearly 370 million rentable square feet, overseeing about $100 billion in products and services via federal contracts, and delivering technology services that serve millions of people across dozens of federal agencies. GSA’s mission is to deliver the best customer experience and value in real estate, acquisition, and technology services to the government and the American people. For more information, visit GSA.gov and follow us at @USGSA.