London's National Gallery Announces Plans to Raise $1 B. for New 'Project Domani'

"On Wednesday, London's National Gallery announced plans to raise nearly $1 billion for Project Domani, the institution's new initiative to collect art from the 20th and 21st centuries, along with a new wing to house that part of the collection. As part of Project Domani, the National Gallery held an international architectural competition to design the new wing, receiving 65 entrants."

"On Wednesday, the institution announced the six short-listed architects, which includes Farshid Moussavi Architecture with Piercy & Company, Foster + Partners, Kengo Kuma and Associates, Renzo Piano Building Workshop with Williams Matthews Associates and Adamson Associates, Selldorf Architects with Purcell, and Studio Seilern Architects with Donald Insall Associates, Vista Building Safety Ltd, and Ralph Appelbaum Associates."

"So far about half of the required funds have been raised, with £150 million pledged by Crankstart, a charity founded by Michael Moritz and his wife Harriet Heyman, £150 million from the Julia Rausing Trust, and then an additional £75 million from the National Gallery Trust, John Booth, the institution's chair of trustees, and other donors."

London's National Gallery launched Project Domani to raise nearly $1 billion for acquiring 20th- and 21st-century art and to build a new wing at 30 Orange Street. The gallery ran an international architectural competition with 65 entrants and shortlisted six teams, including Farshid Moussavi Architecture with Piercy & Company, Foster + Partners, Kengo Kuma and Associates, Renzo Piano Building Workshop with Williams Matthews Associates and Adamson Associates, Selldorf Architects with Purcell, and Studio Seilern Architects with Donald Insall Associates, Vista Building Safety Ltd, and Ralph Appelbaum Associates. About half the funds are pledged: £150 million from Crankstart, £150 million from the Julia Rausing Trust, and £75 million from the National Gallery Trust, John Booth, and other donors. An additional £375 million is earmarked for post-1900 acquisitions and an endowment for the new wing's operating costs. The competition winner will be announced in April and the wing is projected to open in the early 2030s.

Read at ARTnews.com