The Academy of Motion Picture Arts has raised $100 million towards a $250 million capital campaign for the new museum.
Touted as the first major U.S. museum dedicated to the history and future development of motion pictures, award-winning architects Renzo Piano and Zoltan Pali, will house the non-profit museum in the May Company Wilshire building in Los Angeles. It is planned to open in 2016.
“The Academy museum will be a landmark that both our industry and our city can be immensely proud of,” said Academy CEO Dawn Hudson. “I appreciate the unwavering support of our board, our members, and especially our campaign chairs, all of whom have led us through this crucial stage.”
Launched in early 2012 by Campaign Chair Bob Iger and Co-Chairs Annette Bening and Tom Hanks, the campaign has raised $100 million through private donations towards a $250 million goal. “The early response to our fundraising campaign has been outstanding and is incredibly encouraging,” said Iger. “We are so grateful to the founding supporters of the campaign, who share our vision and passion for creating the Academy Museum.”
Located on the Los Angeles County Museum of Art (LACMA) campus, the nearly 300,000 square-foot Academy Museum will revitalize the historic building, which has been vacant or underutilized for nearly 20 years, and weave it back into the fabric of the city.
The design fully restores the Wilshire and Fairfax street-front facades of the 1938 Streamline Moderne building, and includes a spherical glass addition at the back of the original building. Designed to represent the marriage of art and technology, the addition will house a state-of-the-art theater which replaces an extension made to the structure in 1946.
“The design for the museum will finally enable this wonderful building to be animated and contribute to the city after sitting empty for so long,” said Piano, the Pritzker Prize winning architect. “I am very inspired by the Academy’s name and mission, the idea of the arts and sciences working together to create films. Our design will preserve the May Company building’s historic public profile while simultaneously signaling that the building is taking on a new life that celebrates both the industry and art form that this city created and gave to the world.”
“A major movie museum in the heart of this city has been a long-held dream of the Academy,” said Academy President Hawk Koch, “Thanks to the latest technological developments we can take the visiting public through time, back into our history and forward toward our future.”