The General Services Administration plans to consolidate its real estate assets as part of a $70 million  project designed to save taxpayer dollars, agency chief Dan Tangherlini announced Monday.

“As public servants we have a responsibility to serve the American people as effectively and efficiently as possible,” the GSA administrator said.

The initiative, which will involve 19 projects to convert offices into federally owned space, has a target of $17 million in annual rent savings, 507,000 square feet less of real estate and $38 million less in lease payments.

“By consolidating these locations we are not just eliminating redundant rents and space but also encouraging collaboration among government workers by creating open workspace,” Tangherlini said, adding, “We’re ushering in a new day for office space throughout the federal government.”

Over 1 million federal workers use a total of 377.9 million square feet of workspace, which make up more than 9,000 GSA properties.