$3.47 Billion Worth of Arts Institutional Expansion Underway in NYC

Source: NY Times

The New York City arts scene is at a momentous phase in history as sixteen major arts institutions simultaneously pursue significant expansion projects adding up to $3.47 billion. Despite these daunting numbers, the NY Times reports that seasoned fundraisers remain unfazed as gala season approaches, confident in their abilities to engage their current donors and attract new ones for their respective initiatives. The plans range widely in price, from the Metropolitan Museum’s $500 million wing for contemporary works, to the Irish Arts Center’s $60 million new home in Manhattan’s Hell’s Kitchen neighborhood. A few big name donors helping to foot the bill for various projects are soprano Renee Fleming, cosmetics magnate Leonard A. Lauder, and businessman David M. Rubenstein.

Read full story at: NY Times

Arts, Media & Culture, News