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A rendering of a gallery in the Peter Zumthor-designed building. Photo: Atelier Peter Zumthor & Partner / The Boundary.

LACMA Pushes to Meet $600 Million Fundraising Goal

The Los Angeles County Museum of Art is juggling new challenges in its goal to start breaking ground for a new Peter Zumthor–designed building by late 2019, reports the Los Angeles Times. With the project trailing about six months behind schedule, the museum is steadily on track to secure the $600 million it needs in order to continue with its plans for the renovated building, which would serve as a town square along Los Angeles’s Miracle Mile. But US tariffs on steel, inflation, and the city’s growing construction, among other factors, threaten to upset the project’s rhythm; its price tag has already leapt from $600 million to $650 million to allot for contingency costs. If the museum—which has an array of other ambitious expansions in the works—fails to reach its $600 million target by December, it “would really have to reevaluate the amount of money we’d have to raise,” as LACMA director Michael Govan said. Govan added that the “big hurdle” will be the project’s environmental impact report, which will be completed this fall and will determine whether LA County gives the project its promised $125 million. David Geffen pledged $150 million to the museum last year, but no major gifts have been announced since then. As of now, new funds are trickling in from board members and newcomer philanthropists.

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