Is it possible to remove a portion of an attic for high ceilings?

most homes in our city have high vaulted ceilings which makes the home look much more modern and spacious. However, our two story home does not. The home is over 2,800 sq ft. and we sacrificed having high vaulted ceilings for more square footage that we get with a loft and fifth bedroom. For the loft upstairs, is it possible to remove the attic (which is only used for instillation) for higher ceilings? We would keep the attic above the rest of the upstair rooms so that the house stays instillated. Have you ever heard of anyone doing this?