The Medical Arts building was designed in 1927, and was reportedly one of the most modern hospitals in the Southern United States. I have also heard rumor that it was the first racially integrated hospital in the South, and as such the first southern hospital where a black and white child were born in the same maternity ward on the same day.
At the time of this writing the current owner is simply renovating the parking structure to sell parking on Peachtree St. It is unknown whether any plans are in the works for the structure itself.
There is very little remaining of the interior of the building, though many floors still had the "medical institution green" paint on the walls. The marble foyer is clearly original, and the brass elevator doors are decorated with metal plates depicting the classic "caduceus" medical symbol.
The 6th floor was at some point decimated by a fire, probably after the building became vacant.