The Obama administration has put a freeze on the acquisition of new federal, non-defense real estate. Under the policy, spelled out in a May 11 Office of Management and Budget memo, federal agencies must offset any planned new space by consolidating or disposing of old space. The American Institute of Architects says the policy could create opportunities for building renovations and is less worrisome than current federal budgetary concerns.
OMB Freezes New Federal Real Estate Acquisitions
June 11, 2012