Two donors made recent pledges totaling $75 million, adding to the coffers of the Los Angeles County Museum of Art (LACMA) and moving its ambitious plans forward.
Elaine Wynn, co-chair of the board and co-founder of Wynn Resorts, pledged $50 million to kick off the next phase for the Peter Zumthor-designed permanent collection building.
A. Jerrold Perenchio added a $25 million pledge to his original commitment to LACMA of 47 works of art worth more than $500 million. Perenchio produced “All in the Family” and “Blade Runner.”
The pledges are contingent on the launch of the new permanent collection building project which will replace four of the museum’s seven existing buildings and span across Wilshire Blvd.
“These historic and very generous gifts set the foundations of LACMA’s future and will serve as a catalyst to encourage others to come on board,” Michael Govan, LACMA CEO and Wallis Annenberg Director, wrote in a release following the announcement of the donors pledges.
The Los Angeles County Board of Supervisors has committed $125 million to the $600 million project (pending the Environmental Impact Report certification and building approval). EIR hearings are tentatively set to start in July. If approved, construction is set to begin in late 2018, and the new building is slated to open in 2023.